Steward Partners Investment Advisory LLC Has $158,000 Stock Position in 89bio, Inc. (NASDAQ:ETNB)

Steward Partners Investment Advisory LLC lessened its position in 89bio, Inc. (NASDAQ:ETNB - Free Report) by 74.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,210 shares of the company's stock after selling 60,150 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in 89bio were worth $158,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETNB. Kingswood Wealth Advisors LLC acquired a new stake in shares of 89bio during the 4th quarter valued at about $86,000. New York State Common Retirement Fund lifted its stake in 89bio by 24.3% in the fourth 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 during the last quarter. Intech Investment Management LLC bought a new stake in 89bio in the third quarter worth approximately $160,000. Quest Partners LLC increased its stake in shares of 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. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of 89bio by 22.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,932 shares of the company's stock valued at $195,000 after purchasing an additional 4,562 shares in the last quarter.

Insider Buying and Selling

In related news, Director Charles Mcwherter acquired 5,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were bought at an average cost of $6.55 per share, for a total transaction of $32,750.00. Following the purchase, the director now owns 15,000 shares in the company, valued at approximately $98,250. This trade represents a 50.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Quoc Le-Nguyen sold 10,963 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $6.49, for a total value of $71,149.87. Following the transaction, the insider now owns 271,833 shares of the company's stock, valued at $1,764,196.17. This trade represents a 3.88 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.

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Wall Street Analysts Forecast Growth

ETNB has been the topic of a number of analyst reports. The Goldman Sachs Group assumed coverage on 89bio in a report on Friday, March 14th. They set a "neutral" rating and a $11.00 price objective on the stock. Wolfe Research assumed coverage on 89bio in a report on Tuesday, February 4th. They set an "outperform" rating on the stock. Raymond James upgraded shares of 89bio to a "strong-buy" rating in a research note on Thursday, December 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 89bio in a report on Friday, March 7th. Finally, UBS Group raised their target price 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. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, 89bio currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.56.

89bio Stock Performance

Shares of NASDAQ:ETNB traded down $0.05 on Thursday, hitting $8.74. 866,723 shares of the company were exchanged, compared to its average volume of 1,147,514. 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 company's 50 day moving average price is $8.87 and its two-hundred day moving average price is $8.43. 89bio, Inc. has a one year low of $5.99 and a one year high of $12.16. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -3.03 and a beta of 1.17.

89bio (NASDAQ:ETNB - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.42). Research analysts expect that 89bio, Inc. will post -3.19 earnings per share for the current year.

89bio Company 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.