89bio, Inc. (NASDAQ:ETNB) CEO Acquires $83,500.00 in Stock

89bio, Inc. (NASDAQ:ETNBGet Free Report) CEO Rohan Palekar bought 10,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were bought at an average cost of $8.35 per share, for a total transaction of $83,500.00. Following the completion of the transaction, the chief executive officer now directly owns 466,236 shares of the company’s stock, valued at $3,893,070.60. This trade represents a 2.19 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

89bio Trading Up 2.3 %

Shares of NASDAQ:ETNB opened at $8.96 on Tuesday. The firm has a fifty day moving average of $8.20 and a two-hundred day moving average of $8.38. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09. 89bio, Inc. has a 12-month low of $7.00 and a 12-month high of $16.63. The firm has a market capitalization of $950.92 million, a P/E ratio of -3.08 and a beta of 1.07.

Analysts Set New Price Targets

Several brokerages have commented on ETNB. Royal Bank of Canada decreased their target price on shares of 89bio from $13.00 to $12.00 and set a “sector perform” rating for the company in a report on Tuesday, August 6th. Raymond James cut their target price on shares of 89bio from $53.00 to $49.00 and set a “strong-buy” rating on the stock in a research note on Friday, November 8th. HC Wainwright restated a “buy” rating and issued a $29.00 target price on shares of 89bio in a report on Monday, November 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $29.00 price target on shares of 89bio in a report on Friday, September 20th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, 89bio presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.33.

View Our Latest Research Report on 89bio

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Candriam S.C.A. lifted its holdings in shares of 89bio by 173.6% during the 2nd quarter. Candriam S.C.A. now owns 848,079 shares of the company’s stock valued at $6,793,000 after buying an additional 538,079 shares during the last quarter. Vanguard Group Inc. grew its position in 89bio by 9.6% in the first quarter. Vanguard Group Inc. now owns 4,722,971 shares of the company’s stock worth $54,975,000 after acquiring an additional 415,386 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of 89bio by 165.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 227,930 shares of the company’s stock worth $1,687,000 after purchasing an additional 142,032 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of 89bio during the 2nd quarter valued at $2,238,000. Finally, Janus Henderson Group PLC lifted its stake in shares of 89bio by 41.4% in the 1st quarter. Janus Henderson Group PLC now owns 12,603,382 shares of the company’s stock valued at $146,646,000 after purchasing an additional 3,688,241 shares during the last quarter.

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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