89bio, Inc. (NASDAQ:ETNB) Insider Sells $71,149.87 in Stock

89bio, Inc. (NASDAQ:ETNB) insider Quoc Le-Nguyen sold 10,963 shares of 89bio stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $6.49, for a total transaction of $71,149.87. Following the completion of the sale, the insider now owns 271,833 shares in the company, valued at approximately $1,764,196.17. This represents a 3.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

89bio Trading Up 3.6 %

Shares of 89bio stock opened at $6.31 on Monday. The business has a fifty day simple moving average of $7.96 and a 200-day simple moving average of $8.22. 89bio, Inc. has a fifty-two week low of $5.99 and a fifty-two week high of $16.63. The firm has a market cap of $669.68 million, a price-to-earnings ratio of -2.17 and a beta of 1.14. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ETNB. Raymond James raised 89bio to a “strong-buy” rating in a report on Thursday, December 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $29.00 target price on shares of 89bio in a research note on Thursday, January 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of 89bio in a research note on Saturday. Finally, HC Wainwright restated a “buy” rating and set a $29.00 price objective on shares of 89bio in a research note on Monday, November 11th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.33.

Institutional Investors Weigh In On 89bio

A number of institutional investors and hedge funds have recently bought and sold shares of ETNB. SG Americas Securities LLC raised its holdings in shares of 89bio by 18.3% in the 4th quarter. SG Americas Securities LLC now owns 36,325 shares of the company’s stock worth $284,000 after purchasing an additional 5,612 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in 89bio in the fourth quarter worth approximately $739,000. Assenagon Asset Management S.A. bought a new position in shares of 89bio in the fourth quarter valued at $1,897,000. Harbor Capital Advisors Inc. grew its holdings in shares of 89bio by 10.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 251,898 shares of the company’s stock worth $1,970,000 after acquiring an additional 23,968 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of 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 purchasing an additional 43,384 shares during the period.

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.