89bio, Inc. (NASDAQ:ETNB) Insider Quoc Le-Nguyen Sells 15,329 Shares

89bio, Inc. (NASDAQ:ETNB) insider Quoc Le-Nguyen sold 15,329 shares of the business’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $5.95, for a total transaction of $91,207.55. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

89bio Trading Up 2.9 %

NASDAQ ETNB opened at $6.06 on Friday. The firm’s fifty day moving average is $8.15 and its two-hundred day moving average is $8.19. 89bio, Inc. has a one year low of $4.16 and a one year high of $11.84. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. The firm has a market cap of $884.66 million, a PE ratio of -2.08 and a beta of 1.25.

89bio (NASDAQ:ETNB) last issued its quarterly 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). Analysts expect that 89bio, Inc. will post -3.19 earnings per share for the current year.

Institutional Investors Weigh In On 89bio

Several large investors have recently modified their holdings of the stock. Avoro Capital Advisors LLC purchased a new position in 89bio during the 4th quarter worth $32,062,000. Deep Track Capital LP lifted its position in 89bio by 134.2% in the fourth quarter. Deep Track Capital LP now owns 6,478,249 shares of the company’s stock valued at $50,660,000 after purchasing an additional 3,711,737 shares during the period. Suvretta Capital Management LLC boosted its holdings in 89bio by 27.7% in the 4th quarter. Suvretta Capital Management LLC now owns 10,202,696 shares of the company’s stock valued at $79,785,000 after purchasing an additional 2,211,052 shares in the last quarter. Janus Henderson Group PLC increased its position in 89bio by 8.9% during the 4th quarter. Janus Henderson Group PLC now owns 16,514,056 shares of the company’s stock worth $129,177,000 after purchasing an additional 1,355,838 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of 89bio in the 4th quarter valued at approximately $7,972,000.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ETNB. Weiss Ratings reiterated a “sell (d-)” rating on shares of 89bio in a report on Tuesday, April 8th. The Goldman Sachs Group began coverage on shares of 89bio in a research report on Friday, March 14th. They set a “neutral” rating and a $11.00 price objective for the company. Citigroup initiated coverage on shares of 89bio in a research report on Thursday, March 13th. They issued a “buy” rating and a $25.00 target price on the stock. UBS Group boosted 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $29.00 price objective on shares of 89bio in a report on Thursday, January 2nd. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.56.

About 89bio

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.