89bio, Inc. (NASDAQ:ETNB - Get Free Report) Director Charles Mcwherter acquired 10,000 shares of 89bio stock in a transaction dated Thursday, December 5th. The shares were purchased at an average price of $8.00 per share, with a total value of $80,000.00. Following the acquisition, the director now owns 10,000 shares of the company's stock, valued at approximately $80,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
89bio Stock Performance
NASDAQ:ETNB opened at $8.03 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. 89bio, Inc. has a fifty-two week low of $7.00 and a fifty-two week high of $16.63. The company has a market cap of $852.19 million, a price-to-earnings ratio of -2.76 and a beta of 1.12. The stock has a fifty day moving average price of $8.36 and a 200-day moving average price of $8.37.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Cantor Fitzgerald restated an "overweight" rating and issued a $29.00 price target on shares of 89bio in a research note on Friday, September 20th. HC Wainwright reissued a "buy" rating and issued a $29.00 target price on shares of 89bio in a research report on Monday, November 11th. Finally, Raymond James decreased their price target on shares of 89bio from $53.00 to $49.00 and set a "strong-buy" rating on the stock in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, 89bio currently has an average rating of "Moderate Buy" and an average target price of $30.33.
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Institutional Investors Weigh In On 89bio
Several institutional investors and hedge funds have recently bought and sold shares of the company. Quest Partners LLC raised its position in shares of 89bio by 226.2% in the 2nd quarter. Quest Partners LLC now owns 8,113 shares of the company's stock valued at $65,000 after buying an additional 5,626 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in 89bio in the second quarter valued at approximately $66,000. China Universal Asset Management Co. Ltd. increased its stake in 89bio by 76.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,370 shares of the company's stock valued at $151,000 after acquiring an additional 8,810 shares during the last quarter. Intech Investment Management LLC acquired a new position in 89bio during the third quarter valued at approximately $160,000. Finally, SG Americas Securities LLC bought a new stake in 89bio during the second quarter worth $203,000.
About 89bio
(
Get 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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