89bio, Inc. (NASDAQ:ETNB – Get Rating) CFO Ryan Martins sold 5,947 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $12.51, for a total transaction of $74,396.97. Following the completion of the transaction, the chief financial officer now owns 36,368 shares of the company’s stock, valued at $454,963.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
89bio Price Performance
Shares of ETNB traded up $0.31 during mid-day trading on Thursday, hitting $12.21. 1,082,064 shares of the company traded hands, compared to its average volume of 849,688. The business has a 50-day moving average of $9.59 and a 200 day moving average of $6.59. 89bio, Inc. has a one year low of $2.00 and a one year high of $13.46. The stock has a market capitalization of $568.22 million, a price-to-earnings ratio of -2.81 and a beta of 0.89. The company has a current ratio of 5.81, a quick ratio of 5.81 and a debt-to-equity ratio of 0.08.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of 89bio by 69.1% during the third quarter. Vanguard Group Inc. now owns 1,671,584 shares of the company’s stock worth $9,678,000 after purchasing an additional 683,232 shares during the period. Rubric Capital Management LP acquired a new stake in 89bio during the 3rd quarter valued at approximately $5,729,000. BlackRock Inc. boosted its holdings in shares of 89bio by 8.3% during the 1st quarter. BlackRock Inc. now owns 922,230 shares of the company’s stock worth $3,476,000 after buying an additional 70,489 shares in the last quarter. DAFNA Capital Management LLC boosted its holdings in shares of 89bio by 136.6% during the 2nd quarter. DAFNA Capital Management LLC now owns 766,774 shares of the company’s stock worth $2,469,000 after buying an additional 442,721 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of 89bio by 147.1% in the 3rd quarter. Two Sigma Advisers LP now owns 556,900 shares of the company’s stock worth $3,224,000 after purchasing an additional 331,500 shares in the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $34.00 price objective (up previously from $27.00) on shares of 89bio in a research report on Monday, November 14th. Raymond James upped their price objective on shares of 89bio from $14.00 to $25.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 14th. Finally, Royal Bank of Canada lowered their target price on shares of 89bio from $35.00 to $29.00 and set an “outperform” rating for the company in a research note on Friday, November 11th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $25.25.
89bio Company Profile
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.
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Read More: 89bio, Inc. (NASDAQ:ETNB) CFO Sells $74,396.97 in Stock