89bio, Inc. (NASDAQ:ETNB - Get Free Report) Director Charles Mcwherter purchased 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were bought at an average price of $6.55 per share, for a total transaction of $32,750.00. Following the acquisition, the director now directly owns 15,000 shares in the company, valued at $98,250. This trade represents a 50.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
Charles Mcwherter also recently made the following trade(s):
- On Thursday, December 5th, Charles Mcwherter acquired 10,000 shares of 89bio stock. The shares were purchased at an average price of $8.00 per share, for a total transaction of $80,000.00.
89bio Trading Up 2.5 %
Shares of NASDAQ ETNB traded up $0.17 during trading hours on Thursday, reaching $6.92. The stock had a trading volume of 1,534,223 shares, compared to its average volume of 1,030,159. 89bio, Inc. has a 52-week low of $5.99 and a 52-week high of $16.63. The firm has a market cap of $734.42 million, a price-to-earnings ratio of -2.38 and a beta of 1.14. The business's fifty day moving average price is $7.80 and its two-hundred day moving average price is $8.20. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09.
Institutional Investors Weigh In On 89bio
A number of institutional investors and hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of 89bio by 1.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,998 shares of the company's stock valued at $1,043,000 after buying an additional 1,624 shares during the period. The Manufacturers Life Insurance Company grew its holdings in 89bio by 12.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,355 shares of the company's stock worth $251,000 after acquiring an additional 3,557 shares in the last quarter. SG Americas Securities LLC increased its position in 89bio by 21.4% during the 3rd quarter. SG Americas Securities LLC now owns 30,713 shares of the company's stock valued at $227,000 after purchasing an additional 5,421 shares during the period. Algert Global LLC raised its holdings in shares of 89bio by 30.8% in the 2nd quarter. Algert Global LLC now owns 30,587 shares of the company's stock valued at $245,000 after purchasing an additional 7,203 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of 89bio in the 2nd quarter worth approximately $66,000.
Analyst Upgrades and Downgrades
A number of research firms recently commented on ETNB. Raymond James raised shares of 89bio to a "strong-buy" rating in a research note on Thursday, December 12th. HC Wainwright reaffirmed a "buy" rating and set a $29.00 target price on shares of 89bio in a research note on Tuesday. Cantor Fitzgerald reissued an "overweight" rating and set a $29.00 price target on shares of 89bio in a research note on Thursday, January 2nd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 89bio in a research report on Saturday, January 18th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, 89bio has an average rating of "Moderate Buy" and a consensus target price of $30.33.
Read Our Latest Analysis on ETNB
About 89bio
(
Get 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.
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