94,494 Shares in 89bio, Inc. (NASDAQ:ETNB) Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. purchased a new position in 89bio, Inc. (NASDAQ:ETNB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 94,494 shares of the company's stock, valued at approximately $739,000. Hennion & Walsh Asset Management Inc. owned approximately 0.09% of 89bio at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC raised its stake in 89bio by 14.2% during the 3rd quarter. Janus Henderson Group PLC now owns 15,158,218 shares of the company's stock valued at $112,140,000 after purchasing an additional 1,882,108 shares during the period. Westfield Capital Management Co. LP raised 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 valued at $22,245,000 after buying an additional 686,673 shares during the period. Geode Capital Management LLC lifted its stake in 89bio by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,074,970 shares of the company's stock worth $15,358,000 after acquiring an additional 160,356 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in 89bio during the 3rd quarter worth about $5,631,000. Finally, Charles Schwab Investment Management Inc. grew its stake in 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 acquiring an additional 53,932 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently commented on ETNB. Cantor Fitzgerald restated an "overweight" rating and set a $29.00 price target on shares of 89bio in a report on Thursday, January 2nd. Weiss Ratings reissued a "sell (d-)" rating on shares of 89bio in a research note on Saturday. Raymond James raised shares of 89bio to a "strong-buy" rating in a research note on Thursday, December 12th. Finally, HC Wainwright reissued a "buy" rating and set a $29.00 price objective on shares of 89bio in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, 89bio has an average rating of "Moderate Buy" and a consensus price target of $30.33.

89bio Stock Up 3.6 %

NASDAQ:ETNB traded up $0.22 during trading hours on Monday, reaching $6.31. The company's stock had a trading volume of 1,863,182 shares, compared to its average volume of 1,074,441. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.66 and a quick ratio of 11.66. The company has a market cap of $669.68 million, a price-to-earnings ratio of -2.17 and a beta of 1.14. 89bio, Inc. has a one year low of $5.99 and a one year high of $16.63. The business's 50-day moving average is $7.96 and its 200-day moving average is $8.22.

Insiders Place Their Bets

In other news, insider Quoc Le-Nguyen sold 10,963 shares of the firm's stock in a transaction dated 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 directly owns 271,833 shares of the company's stock, valued at approximately $1,764,196.17. This trade represents a 3.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles Mcwherter acquired 10,000 shares of the company's stock in a transaction dated Thursday, December 5th. The stock was acquired at an average price of $8.00 per share, for a total transaction of $80,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company's stock, valued at $80,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased 25,000 shares of company stock valued at $202,950 over the last quarter. Insiders own 2.80% of the company's stock.

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.