89bio, Inc. (NASDAQ:ETNB - Get Free Report) CEO Rohan Palekar purchased 5,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were purchased at an average price of $7.89 per share, for a total transaction of $39,450.00. Following the completion of the purchase, the chief executive officer now directly owns 471,236 shares of the company's stock, valued at approximately $3,718,052.04. This trade represents a 1.07 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.
Rohan Palekar also recently made the following trade(s):
- On Friday, November 22nd, Rohan Palekar bought 10,000 shares of 89bio stock. The stock was acquired at an average cost of $8.35 per share, for a total transaction of $83,500.00.
89bio Price Performance
89bio stock opened at $8.00 on Wednesday. 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 company has a market capitalization of $849.01 million, a PE ratio of -2.78 and a beta of 1.12. 89bio, Inc. has a 12 month low of $7.00 and a 12 month high of $16.63. The stock has a 50-day moving average price of $8.37 and a two-hundred day moving average price of $8.37.
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Several analysts have commented on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $29.00 target price on shares of 89bio in a research report on Friday, September 20th. HC Wainwright reissued a "buy" rating and issued a $29.00 price target on shares of 89bio in a research note on Monday, November 11th. Finally, Raymond James dropped their price target on 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 analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $30.33.
Check Out Our Latest Analysis on 89bio
Hedge Funds Weigh In On 89bio
Hedge funds have recently made changes to their positions in the stock. Quest Partners LLC grew its stake in 89bio by 226.2% during the second quarter. Quest Partners LLC now owns 8,113 shares of the company's stock worth $65,000 after purchasing an additional 5,626 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of 89bio in the second quarter valued at approximately $66,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of 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 purchasing an additional 8,810 shares in the last quarter. Intech Investment Management LLC bought a new stake in 89bio during the third quarter worth $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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