89bio, Inc. (NASDAQ:ETNB) Director Charles Mcwherter Purchases 5,000 Shares

89bio, Inc. (NASDAQ:ETNB) Director Charles Mcwherter acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was purchased at an average price of $6.55 per share, for a total transaction of $32,750.00. Following the acquisition, the director now directly owns 15,000 shares in the company, valued at $98,250. This represents a 50.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Charles Mcwherter also recently made the following trade(s):

• On Thursday, December 5th, Charles Mcwherter bought 10,000 shares of 89bio stock. The stock was acquired at an average price of $8.00 per share, with a total value of $80,000.00.

89bio Price Performance

ETNB stock opened at $7.13 on Friday. 89bio, Inc. has a 52-week low of $5.99 and a 52-week high of $16.63. The business has a fifty day moving average of $7.74 and a two-hundred day moving average of $8.18. The stock has a market cap of $756.71 million, a price-to-earnings ratio of -2.45 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.

Hedge Funds Weigh In On 89bio

Hedge funds have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. boosted its stake in 89bio by 22.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 24,932 shares of the company’s stock worth $195,000 after buying an additional 4,562 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in shares of 89bio during the 4th quarter worth approximately $86,000. SG Americas Securities LLC boosted its position in shares of 89bio by 18.3% during 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 during the period. Hennion & Walsh Asset Management Inc. acquired a new stake in 89bio in the 4th quarter valued at approximately $739,000. Finally, Assenagon Asset Management S.A. purchased a new stake in 89bio in the fourth quarter valued at approximately $1,897,000.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Raymond James raised shares of 89bio to a “strong-buy” rating in a research note on Thursday, December 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 89bio in a research report on Saturday, January 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $29.00 target price on shares of 89bio in a report on Thursday, January 2nd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $29.00 target price on shares of 89bio in a research note on Tuesday, January 21st. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.33.

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.