Quoc Le-Nguyen Sells 10,963 Shares of 89bio, Inc. (NASDAQ:ETNB) Stock

89bio, Inc. (NASDAQ:ETNB) insider Quoc Le-Nguyen sold 10,963 shares of 89bio stock in a transaction on 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 transaction, the insider now directly owns 271,833 shares in the company, valued at $1,764,196.17. The trade was a 3.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

89bio Stock Performance

NASDAQ:ETNB opened at $6.31 on Friday. 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 fifty-two week low of $5.99 and a fifty-two week high of $16.63. The stock has a market cap of $669.68 million, a PE ratio of -2.17 and a beta of 1.14. The firm’s fifty day simple moving average is $7.96 and its 200-day simple moving average is $8.21.

Hedge Funds Weigh In On 89bio

A number of institutional investors and hedge funds have recently made changes to their positions in ETNB. Rhumbline Advisers grew its stake in shares of 89bio by 26.9% during the 2nd quarter. Rhumbline Advisers now owns 128,944 shares of the company’s stock worth $1,033,000 after purchasing an additional 27,334 shares during the period. American Century Companies Inc. grew its stake in shares of 89bio by 219.0% during the 2nd quarter. American Century Companies Inc. now owns 63,864 shares of the company’s stock worth $512,000 after purchasing an additional 43,842 shares during the period. Renaissance Technologies LLC acquired a new position in shares of 89bio during the 2nd quarter worth $2,238,000. XTX Topco Ltd acquired a new position in shares of 89bio during the 2nd quarter worth $256,000. Finally, Integral Health Asset Management LLC boosted its position in shares of 89bio by 50.0% in the 2nd quarter. Integral Health Asset Management LLC now owns 450,000 shares of the company’s stock worth $3,604,000 after buying an additional 150,000 shares in the last quarter.

Analysts Set New Price Targets

ETNB has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $29.00 target price on shares of 89bio in a report on Thursday, January 2nd. HC Wainwright reissued a “buy” rating and issued a $29.00 price objective on shares of 89bio in a research note on Monday, November 11th. Finally, Raymond James raised shares of 89bio to a “strong-buy” rating in a research note on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, 89bio presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.33.

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; and for the treatment of severe hypertriglyceridemia.