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 transaction of $91,207.55. Following the sale, the insider now directly owns 328,323 shares of the company’s stock, valued at $1,953,521.85. This represents a 4.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

89bio Trading Up 2.9 %

Shares of 89bio stock opened at $6.06 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.66 and a quick ratio of 11.66. The business has a fifty day simple moving average of $8.04 and a two-hundred day simple moving average of $8.18. 89bio, Inc. has a 1 year low of $4.16 and a 1 year high of $11.84. The company has a market capitalization of $884.66 million, a price-to-earnings ratio of -2.08 and a beta of 1.25.

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

Hedge Funds Weigh In On 89bio

A number of large investors have recently made changes to their positions in the company. FMR LLC grew its stake in shares of 89bio by 2,153.2% in the third quarter. FMR LLC now owns 73,386 shares of the company’s stock valued at $543,000 after acquiring an additional 70,129 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in 89bio by 1.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,998 shares of the company’s stock worth $1,043,000 after purchasing an additional 1,624 shares during the period. Barclays PLC lifted its holdings in shares of 89bio by 228.9% during the 3rd quarter. Barclays PLC now owns 214,768 shares of the company’s stock worth $1,590,000 after acquiring an additional 149,479 shares during the period. Geode Capital Management LLC boosted its holdings in shares of 89bio by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,074,970 shares of the company’s stock valued at $15,358,000 after purchasing an additional 160,356 shares in the last quarter. Finally, Exome Asset Management LLC acquired a new stake in 89bio in the third quarter valued at about $2,224,000.

Analyst Ratings Changes

A number of equities analysts have issued reports on ETNB shares. The Goldman Sachs Group assumed coverage on 89bio in a report on Friday, March 14th. They set a “neutral” rating and a $11.00 target price for the company. Citigroup started coverage on 89bio in a research note on Thursday, March 13th. They issued a “buy” rating and a $25.00 target price on the stock. Wolfe Research started coverage on shares of 89bio in a research note on Tuesday, February 4th. They set an “outperform” rating for the company. UBS Group boosted their price objective on shares of 89bio from $25.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 89bio in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $27.56.

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.