Quoc Le-Nguyen Sells 15,329 Shares of 89bio, Inc. (NASDAQ:ETNB) Stock

89bio, Inc. (NASDAQ:ETNB) insider Quoc Le-Nguyen sold 15,329 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $5.95, for a total value of $91,207.55. Following the transaction, the insider now owns 328,323 shares of the company’s stock, valued at $1,953,521.85. This represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

89bio Price Performance

ETNB opened at $6.06 on Friday. The company has a fifty day moving average price of $8.04 and a two-hundred day moving average price of $8.18. The firm has a market capitalization of $884.66 million, a PE ratio of -2.08 and a beta of 1.25. 89bio, Inc. has a 52 week low of $4.16 and a 52 week high of $11.84. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66.

89bio (NASDAQ:ETNB) last released its quarterly earnings data on Thursday, March 6th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.42). As a group, analysts anticipate that 89bio, Inc. will post -3.19 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. increased its stake in 89bio by 206.9% in the fourth quarter. Federated Hermes Inc. now owns 6,283 shares of the company’s stock valued at $49,000 after purchasing an additional 4,236 shares in the last quarter. Quarry LP bought a new stake in shares of 89bio in the 4th quarter valued at $55,000. GAMMA Investing LLC raised its stake in 89bio by 4,898.7% during the 1st quarter. GAMMA Investing LLC now owns 7,648 shares of the company’s stock worth $56,000 after buying an additional 7,495 shares during the period. Kingswood Wealth Advisors LLC bought a new position in 89bio during the fourth quarter worth about $86,000. Finally, Sandia Investment Management LP grew its stake in 89bio by 28.5% in the fourth quarter. Sandia Investment Management LP now owns 11,286 shares of the company’s stock valued at $88,000 after acquiring an additional 2,500 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ETNB shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of 89bio in a research report on Tuesday, April 8th. UBS Group increased their price target on 89bio from $25.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective (down previously from $29.00) on shares of 89bio in a research report on Friday, February 28th. The Goldman Sachs Group initiated coverage on 89bio in a research note on Friday, March 14th. They issued a “neutral” rating and a $11.00 target price for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $29.00 price objective on shares of 89bio in a report on Thursday, January 2nd. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

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.