89BIO $ETNB Shares Sold by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd reduced its position in 89BIO (NASDAQ:ETNB) by 57.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 22,618 shares of the company’s stock after selling 30,606 shares during the quarter. Persistent Asset Partners Ltd’s holdings in 89BIO were worth $222,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. CWM LLC grew its position in 89BIO by 9,265.1% during the first quarter. CWM LLC now owns 5,900 shares of the company’s stock worth $43,000 after buying an additional 5,837 shares during the period. KBC Group NV acquired a new stake in shares of 89BIO in the 2nd quarter worth approximately $55,000. AlphaQuest LLC increased its stake in 89BIO by 213.8% in the 2nd quarter. AlphaQuest LLC now owns 6,614 shares of the company’s stock valued at $65,000 after purchasing an additional 4,506 shares in the last quarter. Ieq Capital LLC acquired a new position in 89BIO during the first quarter worth $89,000. Finally, E Fund Management Co. Ltd. purchased a new stake in 89BIO during the first quarter worth $93,000.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ETNB shares. Wall Street Zen cut 89BIO to a “strong sell” rating in a research report on Saturday, November 1st. Bank of America dropped their target price on shares of 89BIO from $30.00 to $29.00 and set a “buy” rating for the company in a report on Monday, August 25th. HC Wainwright cut shares of 89BIO from a “buy” rating to a “neutral” rating and set a $14.50 target price for the company. in a research report on Friday, September 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 89BIO in a report on Wednesday, October 8th. Finally, Wolfe Research cut shares of 89BIO from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 19th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.50.

89BIO Stock Performance

Shares of NASDAQ:ETNB opened at $14.84 on Friday. The business has a 50-day moving average of $13.77 and a two-hundred day moving average of $10.97. The firm has a market capitalization of $2.20 billion, a PE ratio of -4.11 and a beta of 1.27. The company has a debt-to-equity ratio of 0.07, a current ratio of 15.19 and a quick ratio of 15.19. 89BIO has a 12 month low of $4.16 and a 12 month high of $15.06.

89BIO 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.