BIT Capital GmbH Invests $371,000 in 89bio, Inc. (NASDAQ:ETNB)

BIT Capital GmbH acquired a new position in shares of 89bio, Inc. (NASDAQ:ETNB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 47,469 shares of the company's stock, valued at approximately $371,000.

A number of other institutional investors also recently made changes to their positions in ETNB. Quest Partners LLC lifted its holdings in 89bio by 172.1% during the 3rd quarter. Quest Partners LLC now owns 22,074 shares of the company's stock worth $163,000 after purchasing an additional 13,961 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of 89bio in the third quarter valued at about $160,000. Charles Schwab Investment Management Inc. grew its stake in shares of 89bio by 8.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 721,050 shares of the company's stock valued at $5,336,000 after acquiring an additional 53,932 shares in the last quarter. Algert Global LLC increased its position in 89bio by 103.4% during the third quarter. Algert Global LLC now owns 62,217 shares of the company's stock worth $460,000 after acquiring an additional 31,630 shares during the period. Finally, FMR LLC raised its stake in 89bio by 2,153.2% in the 3rd quarter. FMR LLC now owns 73,386 shares of the company's stock worth $543,000 after purchasing an additional 70,129 shares in the last quarter.

89bio Price Performance

Shares of 89bio stock traded down $0.79 during midday trading on Monday, hitting $7.30. 937,807 shares of the company traded hands, compared to its average volume of 2,432,938. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -2.51 and a beta of 1.17. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. The firm's fifty day moving average price is $9.16 and its 200-day moving average price is $8.42. 89bio, Inc. has a 12 month low of $5.99 and a 12 month high of $11.84.

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89bio (NASDAQ:ETNB - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported ($1.02) EPS for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.42). As a group, sell-side analysts forecast that 89bio, Inc. will post -3.19 earnings per share for the current year.

Insider Buying and Selling at 89bio

In other 89bio news, Director Ra Capital Management, L.P. purchased 5,714,285 shares of the business's stock in a transaction dated Thursday, January 30th. The shares were bought at an average price of $8.75 per share, for a total transaction of $49,999,993.75. Following the completion of the acquisition, the director now owns 19,554,319 shares in the company, valued at approximately $171,100,291.25. This trade represents a 41.29 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Quoc Le-Nguyen sold 10,963 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $6.49, for a total value of $71,149.87. Following the completion of the sale, the insider now owns 271,833 shares of the company's stock, valued at $1,764,196.17. The trade was a 3.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ETNB shares. Wolfe Research assumed coverage on shares of 89bio in a report on Tuesday, February 4th. They set an "outperform" rating on the stock. HC Wainwright restated a "buy" rating and set a $21.00 price objective (down previously from $29.00) on shares of 89bio in a research note on Friday, February 28th. Raymond James upgraded 89bio to a "strong-buy" rating in a research report on Thursday, December 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 89bio in a research note on Saturday, March 22nd. Finally, Citigroup started coverage on shares of 89bio in a report on Thursday, March 13th. They issued a "buy" rating and a $25.00 target price on the stock. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, 89bio currently has an average rating of "Moderate Buy" and a consensus price target of $27.56.

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.