89bio, Inc. (NASDAQ:ETNB) Shares Purchased by RTW Investments LP

RTW Investments LP increased its holdings in shares of 89bio, Inc. (NASDAQ:ETNB - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,478,061 shares of the company's stock after buying an additional 99,513 shares during the quarter. RTW Investments LP owned 7.05% of 89bio worth $58,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ETNB. JPMorgan Chase & Co. raised its position in shares of 89bio by 77.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,467 shares of the company's stock valued at $736,000 after purchasing an additional 43,384 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of 89bio in the 4th quarter valued at approximately $1,897,000. Hennion & Walsh Asset Management Inc. purchased a new position in shares of 89bio in the 4th quarter valued at approximately $739,000. SG Americas Securities LLC raised its position in shares of 89bio by 18.3% in the 4th quarter. SG Americas Securities LLC now owns 36,325 shares of the company's stock valued at $284,000 after purchasing an additional 5,612 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new position in shares of 89bio in the 4th quarter valued at approximately $86,000.

Insider Activity

In other news, insider Quoc Le-Nguyen sold 15,329 shares of 89bio stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $5.95, for a total transaction of $91,207.55. Following the completion of the transaction, the insider now directly owns 328,323 shares of the company's stock, valued at $1,953,521.85. The trade was a 4.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on ETNB. Wolfe Research began coverage on shares of 89bio in a research report on Tuesday, February 4th. They issued an "outperform" rating for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 89bio in a research report on Saturday, May 10th. Citigroup initiated coverage on shares of 89bio in a research report on Thursday, March 13th. They issued a "buy" rating and a $25.00 price objective for the company. UBS Group lifted their price objective on shares of 89bio from $25.00 to $38.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group assumed coverage on shares of 89bio in a report on Friday, March 14th. They issued a "neutral" rating and a $11.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, 89bio has an average rating of "Buy" and a consensus target price of $26.43.

89bio Stock Performance

Shares of NASDAQ:ETNB traded down $0.08 during trading on Monday, hitting $7.70. 841,111 shares of the stock traded hands, compared to its average volume of 1,377,168. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -2.65 and a beta of 1.23. The company has a fifty day moving average price of $7.27 and a two-hundred day moving average price of $8.16. 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 posted its earnings results on Thursday, May 1st. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.01. During the same quarter in the previous year, the business earned ($0.54) EPS. As a group, equities analysts predict that 89bio, Inc. will post -3.19 EPS for the current year.

89bio Profile

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.