Raymond James Financial Inc. acquired a new stake in shares of 89bio, Inc. (NASDAQ:ETNB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 377,370 shares of the company's stock, valued at approximately $2,951,000. Raymond James Financial Inc. owned approximately 0.36% of 89bio as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its holdings in shares of 89bio by 206.9% during the 4th quarter. Federated Hermes Inc. now owns 6,283 shares of the company's stock valued at $49,000 after purchasing an additional 4,236 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of 89bio in the fourth quarter worth about $86,000. Victory Capital Management Inc. boosted its stake in shares of 89bio by 11.5% during the 4th quarter. Victory Capital Management Inc. now owns 13,969 shares of the company's stock worth $109,000 after acquiring an additional 1,437 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of 89bio during the 4th quarter valued at about $114,000. Finally, New York State Common Retirement Fund raised its stake in shares of 89bio by 24.3% in the 4th quarter. New York State Common Retirement Fund now owns 16,367 shares of the company's stock valued at $128,000 after acquiring an additional 3,200 shares in the last quarter.
Insider Activity at 89bio
In other news, insider Quoc Le-Nguyen sold 15,329 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $5.95, for a total value of $91,207.55. Following the sale, the insider now owns 328,323 shares in the company, valued at approximately $1,953,521.85. The trade was a 4.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.80% of the stock is owned by insiders.
Wall Street Analyst Weigh In
ETNB has been the subject of a number of recent analyst reports. The Goldman Sachs Group started coverage on 89bio in a research report on Friday, March 14th. They set a "neutral" rating and a $11.00 target price for the company. HC Wainwright reiterated a "buy" rating and issued a $21.00 target price (down from $29.00) on shares of 89bio in a research note on Friday, February 28th. Cantor Fitzgerald raised shares of 89bio to a "strong-buy" rating in a research report on Wednesday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 89bio in a research report on Thursday, April 24th. Finally, Citigroup assumed coverage on 89bio in a research report on Thursday, March 13th. They set a "buy" rating and a $25.00 price objective for the company. Two research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, 89bio presently has an average rating of "Buy" and an average target price of $27.25.
Check Out Our Latest Report on 89bio
89bio Stock Performance
ETNB traded up $0.60 on Friday, hitting $8.73. 2,526,878 shares of the stock traded hands, compared to its average volume of 1,342,540. The business has a fifty day moving average price of $7.38 and a two-hundred day moving average price of $8.17. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.27 billion, a PE ratio of -3.00 and a beta of 1.25. 89bio, Inc. has a 52 week low of $4.16 and a 52 week high of $11.84.
89bio (NASDAQ:ETNB - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.50) by $0.01. During the same period in the prior year, the firm earned ($0.54) EPS. On average, research analysts predict that 89bio, Inc. will post -3.19 EPS for the current fiscal year.
About 89bio
(
Free Report)
89bio, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapies for the treatment of liver and cardio-metabolic diseases. Its lead product candidate is pegozafermin, a glycoPEGylated analog of fibroblast growth factor 21 for the treatment of nonalcoholic steatohepatitis; and for the treatment of severe hypertriglyceridemia.
Featured Stories
Before you consider 89bio, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and 89bio wasn't on the list.
While 89bio currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
