89bio, Inc. (NASDAQ:ETNB - Get Free Report)'s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $4.16 and last traded at $5.54, with a volume of 4287191 shares changing hands. The stock had previously closed at $4.83.
Wall Street Analyst Weigh In
Several brokerages have weighed in on ETNB. UBS Group increased their price objective on 89bio from $25.00 to $38.00 and gave the company a "buy" rating in a report on Friday, January 31st. HC Wainwright reiterated a "buy" rating and issued a $21.00 target price (down previously from $29.00) on shares of 89bio in a research note on Friday, February 28th. Wolfe Research began coverage on shares of 89bio in a report on Tuesday, February 4th. They issued an "outperform" rating for the company. Citigroup started coverage on shares of 89bio in a report on Thursday, March 13th. They set a "buy" rating and a $25.00 target price on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $29.00 target price on shares of 89bio in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, 89bio currently has a consensus rating of "Moderate Buy" and an average target price of $27.56.
Get Our Latest Research Report on ETNB
89bio Stock Down 1.4 %
The company has a fifty day moving average price of $8.46 and a 200 day moving average price of $8.23. The company has a market cap of $851.82 million, a PE ratio of -2.00 and a beta of 1.25. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.66 and a quick ratio of 11.66.
89bio (NASDAQ:ETNB - Get Free Report) last issued 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, analysts anticipate that 89bio, Inc. will post -3.19 EPS for the current year.
Insider Transactions at 89bio
In other 89bio news, Director Ra Capital Management, L.P. bought 5,714,285 shares of 89bio stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average price of $8.75 per share, with a total value of $49,999,993.75. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Quoc Le-Nguyen sold 10,963 shares of the firm's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $6.49, for a total value of $71,149.87. Following the transaction, the insider now directly owns 271,833 shares in the company, valued at $1,764,196.17. This trade represents a 3.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.80% of the company's stock.
Hedge Funds Weigh In On 89bio
Several institutional investors and hedge funds have recently bought and sold shares of ETNB. FMR LLC grew its holdings 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 acquiring an additional 70,129 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of 89bio by 1.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,998 shares of the company's stock worth $1,043,000 after buying an additional 1,624 shares during the last quarter. Barclays PLC increased its stake in shares of 89bio by 228.9% during the third quarter. Barclays PLC now owns 214,768 shares of the company's stock valued at $1,590,000 after buying an additional 149,479 shares during the period. Geode Capital Management LLC increased its stake in shares of 89bio by 8.4% during the third quarter. Geode Capital Management LLC now owns 2,074,970 shares of the company's stock valued at $15,358,000 after buying an additional 160,356 shares during the period. Finally, Exome Asset Management LLC bought a new position in shares of 89bio during the third quarter valued at approximately $2,224,000.
89bio Company Profile
(
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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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