Harbor Capital Advisors Inc. Purchases 142,032 Shares of 89bio, Inc. (NASDAQ:ETNB)

Harbor Capital Advisors Inc. increased its holdings in shares of 89bio, Inc. (NASDAQ:ETNB - Free Report) by 165.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 227,930 shares of the company's stock after buying an additional 142,032 shares during the quarter. Harbor Capital Advisors Inc. owned 0.23% of 89bio worth $1,687,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Ameritas Investment Partners Inc. lifted its stake in shares of 89bio by 28.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,886 shares of the company's stock worth $92,000 after buying an additional 1,744 shares during the last quarter. The Manufacturers Life Insurance Company increased its position 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 buying an additional 3,557 shares during the period. Swiss National Bank lifted its holdings in shares of 89bio by 3.1% during the first quarter. Swiss National Bank now owns 147,200 shares of the company's stock worth $1,713,000 after buying an additional 4,400 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of 89bio by 34.5% in the first quarter. ProShare Advisors LLC now owns 20,737 shares of the company's stock valued at $241,000 after acquiring an additional 5,319 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in 89bio by 21.4% during the third quarter. SG Americas Securities LLC now owns 30,713 shares of the company's stock worth $227,000 after acquiring an additional 5,421 shares during the period.

89bio Stock Performance

Shares of ETNB stock traded up $0.94 during trading hours on Wednesday, hitting $10.17. 1,407,747 shares of the company were exchanged, compared to its average volume of 943,564. The firm has a fifty day simple moving average of $8.14 and a 200 day simple moving average of $8.39. 89bio, Inc. has a 52-week low of $6.88 and a 52-week high of $16.63. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -5.16 and a beta of 1.07. The company has a current ratio of 13.92, a quick ratio of 13.92 and a debt-to-equity ratio of 0.04.

89bio (NASDAQ:ETNB - Get Free Report) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.48) EPS for the quarter, beating analysts' consensus estimates of ($0.56) by $0.08. During the same period in the previous year, the firm posted ($0.52) EPS. Research analysts predict that 89bio, Inc. will post -2.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $29.00 price target on shares of 89bio in a research note on Friday, September 20th. Raymond James boosted their price target on shares of 89bio from $50.00 to $53.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, August 6th. Royal Bank of Canada dropped their target price on shares of 89bio from $13.00 to $12.00 and set a "sector perform" rating on the stock in a report on Tuesday, August 6th. Finally, HC Wainwright reissued a "buy" rating and issued a $29.00 price objective on shares of 89bio in a research report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $31.00.

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.