89bio, Inc. (NASDAQ:ETNB) Shares Acquired by Barclays PLC

Barclays PLC increased its holdings in shares of 89bio, Inc. (NASDAQ:ETNB - Free Report) by 228.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 214,768 shares of the company's stock after buying an additional 149,479 shares during the quarter. Barclays PLC owned about 0.20% of 89bio worth $1,590,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its holdings in shares of 89bio by 14.2% during the 3rd quarter. Janus Henderson Group PLC now owns 15,158,218 shares of the company's stock worth $112,140,000 after acquiring an additional 1,882,108 shares during the period. Westfield Capital Management Co. LP increased its position in 89bio by 29.6% during the third quarter. Westfield Capital Management Co. LP now owns 3,006,038 shares of the company's stock worth $22,245,000 after purchasing an additional 686,673 shares during the last quarter. Geode Capital Management LLC raised its stake in 89bio by 8.4% during the third quarter. Geode Capital Management LLC now owns 2,074,970 shares of the company's stock worth $15,358,000 after purchasing an additional 160,356 shares during the period. Erste Asset Management GmbH acquired a new position in shares of 89bio in the 3rd quarter valued at $5,631,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of 89bio by 8.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 721,050 shares of the company's stock valued at $5,336,000 after buying an additional 53,932 shares during the period.

Analyst Ratings Changes

ETNB has been the topic of several research reports. HC Wainwright reaffirmed a "buy" rating and issued a $29.00 target price on shares of 89bio in a research report on Monday, November 11th. Cantor Fitzgerald restated an "overweight" rating and set a $29.00 price target on shares of 89bio in a research note on Thursday, January 2nd. Finally, Raymond James raised 89bio to a "strong-buy" rating in a research note on Thursday, December 12th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, 89bio currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.33.

89bio Stock Down 11.4 %

Shares of NASDAQ ETNB traded down $0.84 on Friday, hitting $6.51. The company had a trading volume of 1,116,735 shares, compared to its average volume of 713,823. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09. 89bio, Inc. has a 12-month low of $6.26 and a 12-month high of $16.63. The firm has a market capitalization of $690.88 million, a P/E ratio of -2.24 and a beta of 1.14. The business has a 50 day moving average of $8.32 and a two-hundred day moving average of $8.27.

Insiders Place Their Bets

In other 89bio news, Director Charles Mcwherter acquired 10,000 shares of the company's stock in a transaction on Thursday, December 5th. The shares were bought at an average cost of $8.00 per share, for a total transaction of $80,000.00. Following the acquisition, the director now directly owns 10,000 shares of the company's stock, valued at $80,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rohan Palekar bought 5,000 shares of 89bio stock in a transaction dated Friday, December 6th. The shares were acquired at an average price of $7.89 per share, with a total value of $39,450.00. Following the completion of the purchase, the chief executive officer now owns 471,236 shares in the company, valued at approximately $3,718,052.04. The trade was a 1.07 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 25,000 shares of company stock worth $202,950 in the last 90 days. 2.80% of the stock is owned by company insiders.

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.