Laurion Capital Management LP Lowers Stake in 89bio, Inc. (NASDAQ:ETNB)

Laurion Capital Management LP lowered its holdings in shares of 89bio, Inc. (NASDAQ:ETNB) by 3.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 780,273 shares of the company’s stock after selling 30,260 shares during the period. Laurion Capital Management LP owned about 0.74% of 89bio worth $6,102,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ETNB. Avoro Capital Advisors LLC bought a new position in shares of 89bio during the 4th quarter valued at $32,062,000. Deep Track Capital LP grew its holdings in shares of 89bio by 134.2% during the 4th quarter. Deep Track Capital LP now owns 6,478,249 shares of the company’s stock valued at $50,660,000 after purchasing an additional 3,711,737 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of 89bio by 8.9% during the 4th quarter. Janus Henderson Group PLC now owns 16,514,056 shares of the company’s stock valued at $129,177,000 after purchasing an additional 1,355,838 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of 89bio during the 4th quarter valued at $7,972,000. Finally, Vanguard Group Inc. grew its holdings in shares of 89bio by 13.7% during the 4th quarter. Vanguard Group Inc. now owns 5,692,331 shares of the company’s stock valued at $44,514,000 after purchasing an additional 686,054 shares during the last quarter.

Insider Transactions at 89bio

In other news, insider Quoc Le-Nguyen sold 15,329 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $5.95, for a total value of $91,207.55. Following the completion of the sale, the insider now directly owns 328,323 shares of the company’s stock, valued at approximately $1,953,521.85. This trade represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

89bio Trading Down 1.2%

NASDAQ:ETNB opened at $7.70 on Monday. The company has a 50-day moving average price of $7.26 and a 200-day moving average price of $8.16. 89bio, Inc. has a 12 month low of $4.16 and a 12 month high of $11.84. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -2.65 and a beta of 1.23.

89bio (NASDAQ:ETNB) last posted its earnings results on Thursday, May 1st. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.01. During the same quarter in the previous year, the firm earned ($0.54) earnings per share. Equities analysts predict that 89bio, Inc. will post -3.19 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of 89bio in a report on Friday, March 14th. They set a “neutral” rating and a $11.00 target price on the stock. Wolfe Research assumed coverage on shares of 89bio in a report on Tuesday, February 4th. They set an “outperform” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of 89bio in a report on Saturday. Cantor Fitzgerald raised shares of 89bio to a “strong-buy” rating in a report on Wednesday, April 30th. Finally, UBS Group raised their price target on shares of 89bio from $25.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $27.25.

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.