89bio, Inc. (NASDAQ:ETNB - Get Free Report) insider Quoc Le-Nguyen sold 15,329 shares of 89bio stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $5.95, for a total transaction of $91,207.55. Following the sale, the insider now owns 328,323 shares of the company's stock, valued at approximately $1,953,521.85. The trade was a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
89bio Stock Performance
89bio stock opened at $6.06 on Friday. The stock has a fifty day moving average price of $8.15 and a 200 day moving average price of $8.19. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09. 89bio, Inc. has a 52 week low of $4.16 and a 52 week high of $11.84. The firm has a market capitalization of $884.66 million, a P/E ratio of -2.08 and a beta of 1.25.
89bio (NASDAQ:ETNB - Get Free Report) last released its earnings results on Thursday, March 6th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.42). Equities research analysts anticipate that 89bio, Inc. will post -3.19 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have commented on ETNB shares. Citigroup initiated coverage on 89bio in a research report on Thursday, March 13th. They set a "buy" rating and a $25.00 target price on the stock. Wolfe Research began coverage on shares of 89bio in a research report on Tuesday, February 4th. They set 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 company a "buy" rating in a research report on Friday, January 31st. Weiss Ratings restated a "sell (d-)" rating on shares of 89bio in a research report on Tuesday, April 8th. Finally, HC Wainwright reiterated a "buy" rating and set a $21.00 target price (down previously from $29.00) on shares of 89bio in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, seven have given 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 price target of $27.56.
Check Out Our Latest Stock Report on 89bio
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in 89bio by 77.4% during the third quarter. JPMorgan Chase & Co. now owns 99,467 shares of the company's stock worth $736,000 after acquiring an additional 43,384 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in 89bio during the fourth quarter valued at approximately $1,897,000. Barclays PLC grew its stake in 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 buying an additional 149,479 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of 89bio in the fourth quarter worth $114,000. Finally, Geode Capital Management LLC raised its stake in shares of 89bio by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,074,970 shares of the company's stock valued at $15,358,000 after acquiring an additional 160,356 shares during the period.
89bio Company Profile
(
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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