Vanguard Group Inc. grew its holdings in shares of 89bio, Inc. (NASDAQ:ETNB - Free Report) by 13.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,692,331 shares of the company's stock after purchasing an additional 686,054 shares during the quarter. Vanguard Group Inc. owned approximately 5.36% of 89bio worth $44,514,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of 89bio during the fourth quarter worth $2,951,000. Exome Asset Management LLC bought a new position in shares of 89bio in the third quarter valued at approximately $2,224,000. Assenagon Asset Management S.A. purchased a new position in 89bio during the fourth quarter valued at approximately $1,897,000. Candriam S.C.A. increased its holdings in 89bio by 24.5% during the 4th quarter. Candriam S.C.A. now owns 1,055,661 shares of the company's stock worth $8,255,000 after acquiring an additional 207,582 shares during the period. Finally, Geode Capital Management LLC lifted its stake in 89bio by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,074,970 shares of the company's stock worth $15,358,000 after purchasing an additional 160,356 shares in the last quarter.
Analysts Set New Price Targets
A number of equities analysts have weighed in on ETNB shares. Cantor Fitzgerald restated an "overweight" rating and issued a $29.00 target price on shares of 89bio in a research note on Thursday, January 2nd. Citigroup began coverage on 89bio in a report on Thursday, March 13th. They set a "buy" rating and a $25.00 price objective on the stock. The Goldman Sachs Group started coverage on shares of 89bio in a research note on Friday, March 14th. They set a "neutral" rating and a $11.00 price target on the stock. UBS Group boosted their price target on shares of 89bio from $25.00 to $38.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of 89bio in a report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $27.56.
View Our Latest Stock Analysis on 89bio
Insider Buying and Selling
In other news, Director Ra Capital Management, L.P. purchased 5,714,285 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average cost of $8.75 per share, for a total transaction of $49,999,993.75. Following the acquisition, the director now owns 19,554,319 shares of the company's stock, valued at approximately $171,100,291.25. This trade represents a 41.29 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles Mcwherter bought 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were acquired at an average price of $6.55 per share, with a total value of $32,750.00. Following the completion of the transaction, the director now directly owns 15,000 shares of the company's stock, valued at $98,250. This trade represents a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.80% of the stock is currently owned by insiders.
89bio Stock Performance
ETNB traded down $0.10 during mid-day trading on Thursday, reaching $5.79. 174,927 shares of the company traded hands, compared to its average volume of 2,396,636. The stock has a market capitalization of $845.25 million, a P/E ratio of -1.99 and a beta of 1.25. 89bio, Inc. has a 52-week low of $4.16 and a 52-week high of $11.84. 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's fifty day moving average price is $8.25 and its 200-day moving average price is $8.20.
89bio (NASDAQ:ETNB - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.42). On average, sell-side analysts expect that 89bio, Inc. will post -3.19 EPS for the current 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.
Further Reading
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
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
