Candriam S.C.A. boosted its holdings in 89bio, Inc. (NASDAQ:ETNB - Free Report) by 24.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,055,661 shares of the company's stock after purchasing an additional 207,582 shares during the quarter. Candriam S.C.A. owned about 0.99% of 89bio worth $8,255,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in ETNB. JPMorgan Chase & Co. boosted its holdings in shares of 89bio by 77.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,467 shares of the company's stock valued at $736,000 after buying an additional 43,384 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in 89bio in the fourth quarter valued at $1,897,000. Barclays PLC grew its holdings in shares of 89bio by 228.9% during the third quarter. Barclays PLC now owns 214,768 shares of the company's stock worth $1,590,000 after purchasing an additional 149,479 shares during the last quarter. Geode Capital Management LLC increased its position 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 worth $15,358,000 after purchasing an additional 160,356 shares in the last quarter. Finally, FMR LLC increased its position in shares of 89bio by 2,153.2% during the third quarter. FMR LLC now owns 73,386 shares of the company's stock worth $543,000 after purchasing an additional 70,129 shares in the last quarter.
Analysts Set New Price Targets
A number of research analysts recently issued reports on ETNB shares. Weiss Ratings restated a "sell (d-)" rating on shares of 89bio in a research note on Friday. Raymond James upgraded shares of 89bio to a "strong-buy" rating in a research report on Thursday, December 12th. Wolfe Research started coverage on shares of 89bio in a research report on Tuesday, February 4th. They issued an "outperform" rating for the company. UBS Group increased their price target on shares of 89bio from $25.00 to $38.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $21.00 target price (down from $29.00) on shares of 89bio in a report on Friday, February 28th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $30.29.
Get Our Latest Report on ETNB
Insider Buying and Selling
In related news, insider Quoc Le-Nguyen sold 10,963 shares of the company'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 sale, the insider now owns 271,833 shares of the company's stock, valued at approximately $1,764,196.17. This represents a 3.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Mcwherter purchased 5,000 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were bought at an average cost of $6.55 per share, with a total value of $32,750.00. Following the transaction, the director now directly owns 15,000 shares of the company's stock, valued at $98,250. This represents a 50.00 % increase in their position. The disclosure for this purchase can be found here. 2.80% of the stock is currently owned by insiders.
89bio Stock Performance
Shares of 89bio stock traded up $0.39 on Tuesday, reaching $7.54. 1,643,775 shares of the stock were exchanged, compared to its average volume of 2,485,543. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average price of $8.78 and a two-hundred day moving average price of $8.47. 89bio, Inc. has a 1-year low of $5.99 and a 1-year high of $13.71. The firm has a market capitalization of $1.10 billion, a PE ratio of -2.59 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) earnings per share for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.42). As a group, research analysts anticipate that 89bio, Inc. will post -3.19 earnings per share for the current fiscal year.
89bio Profile
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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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