Free Trial

Millennium Management LLC Sells 76,845 Shares of 89bio, Inc. (NASDAQ:ETNB)

89bio logo with Medical background

Millennium Management LLC trimmed its position in 89bio, Inc. (NASDAQ:ETNB - Free Report) by 7.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,010,352 shares of the company's stock after selling 76,845 shares during the quarter. Millennium Management LLC owned about 1.03% of 89bio worth $8,093,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Quest Partners LLC lifted its position in 89bio by 226.2% during the 2nd quarter. Quest Partners LLC now owns 8,113 shares of the company's stock worth $65,000 after acquiring an additional 5,626 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position 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 purchasing an additional 1,744 shares during the last quarter. Principal Financial Group Inc. bought a new stake in 89bio during the 1st quarter valued at approximately $124,000. Chicago Partners Investment Group LLC grew its holdings in 89bio by 43.6% in the 4th quarter. Chicago Partners Investment Group LLC now owns 15,388 shares of the company's stock valued at $158,000 after buying an additional 4,673 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in 89bio by 10.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,760 shares of the company's stock worth $165,000 after buying an additional 1,360 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $29.00 price objective on shares of 89bio in a research note on Friday, September 20th. HC Wainwright restated a "buy" rating and set a $29.00 price objective on shares of 89bio in a report on Tuesday, August 6th. Raymond James increased their target price on shares of 89bio from $50.00 to $53.00 and gave the company a "strong-buy" rating in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada lowered their price target on 89bio from $13.00 to $12.00 and set a "sector perform" rating on the stock in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $30.14.

View Our Latest Stock Report on 89bio

89bio Price Performance

NASDAQ ETNB traded up $0.13 during trading on Thursday, reaching $7.44. 444,298 shares of the company traded hands, compared to its average volume of 969,872. 89bio, Inc. has a 1-year low of $6.57 and a 1-year high of $16.63. The company has a debt-to-equity ratio of 0.04, a quick ratio of 13.92 and a current ratio of 13.92. The stock's 50 day moving average price is $8.20 and its two-hundred day moving average price is $8.69. The company has a market cap of $731.98 million, a price-to-earnings ratio of -3.70 and a beta of 1.09.

89bio (NASDAQ:ETNB - Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.08. During the same period last year, the business posted ($0.52) earnings per share. As a group, analysts anticipate that 89bio, Inc. will post -2.32 EPS for the current year.

89bio Company Profile

(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.

Featured Articles

Institutional Ownership by Quarter for 89bio (NASDAQ:ETNB)

Should you invest $1,000 in 89bio right now?

Before you consider 89bio, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and 89bio wasn't on the list.

While 89bio currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

10 Best Cheap Stocks to Buy Now Cover

MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Post-Election Chaos or Opportunity? Prepare Your Investments
Strong Markets Meet Rising Volatility—Are Your Investments Safe?
Analysts Bullish on AI-Powered Healthcare: Intuitive Surgical’s 30% Upside

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines