Dynamic Technology Lab Private Ltd Invests $269,000 in 89BIO $ETNB

Dynamic Technology Lab Private Ltd acquired a new stake in 89BIO (NASDAQ:ETNB) during the second quarter, HoldingsChannel reports. The fund acquired 27,395 shares of the company’s stock, valued at approximately $269,000.

Several other institutional investors also recently bought and sold shares of the company. Comerica Bank raised its position in 89BIO by 0.6% during the 1st quarter. Comerica Bank now owns 258,123 shares of the company’s stock worth $1,877,000 after buying an additional 1,540 shares during the last quarter. Algert Global LLC raised its holdings in 89BIO by 0.9% during the first quarter. Algert Global LLC now owns 186,991 shares of the company’s stock worth $1,359,000 after purchasing an additional 1,584 shares in the last quarter. CWM LLC raised its holdings in 89BIO by 32.7% during the second quarter. CWM LLC now owns 7,827 shares of the company’s stock worth $77,000 after purchasing an additional 1,927 shares in the last quarter. Victory Capital Management Inc. lifted its position in 89BIO by 21.1% in the first quarter. Victory Capital Management Inc. now owns 16,913 shares of the company’s stock valued at $123,000 after purchasing an additional 2,944 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in 89BIO by 30.6% in the 1st quarter. Hsbc Holdings PLC now owns 14,940 shares of the company’s stock valued at $109,000 after purchasing an additional 3,504 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of 89BIO in a research report on Friday, October 31st. Wall Street Zen lowered 89BIO to a “strong sell” rating in a report on Saturday, November 1st. Zacks Research downgraded 89BIO from a “hold” rating to a “strong sell” rating in a report on Monday, October 20th. HC Wainwright cut shares of 89BIO from a “buy” rating to a “neutral” rating and set a $14.50 price target on the stock. in a research note on Friday, September 19th. Finally, Raymond James Financial downgraded shares of 89BIO from a “strong-buy” rating to a “market perform” rating in a report on Friday, September 19th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $22.50.

89BIO Price Performance

ETNB opened at $14.84 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 15.19 and a current ratio of 15.19. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -4.11 and a beta of 1.27. 89BIO has a one year low of $4.16 and a one year high of $15.06. The business’s fifty day moving average is $14.68 and its two-hundred day moving average is $11.32.

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.