Natixis Invests $1.15 Million in 89bio, Inc. (NASDAQ:ETNB)

Natixis acquired a new position in shares of 89bio, Inc. (NASDAQ:ETNB) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 99,000 shares of the company’s stock, valued at approximately $1,152,000. Natixis owned approximately 0.10% of 89bio at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. RTW Investments LP purchased a new stake in shares of 89bio during the fourth quarter valued at approximately $62,317,000. Vanguard Group Inc. grew its stake in shares of 89bio by 9.6% in the first quarter. Vanguard Group Inc. now owns 4,722,971 shares of the company’s stock worth $54,975,000 after acquiring an additional 415,386 shares during the last quarter. BVF Inc. IL grew its stake in shares of 89bio by 119.2% in the fourth quarter. BVF Inc. IL now owns 4,047,354 shares of the company’s stock worth $45,209,000 after acquiring an additional 2,201,200 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in shares of 89bio by 22.9% in the first quarter. Westfield Capital Management Co. LP now owns 2,164,147 shares of the company’s stock worth $25,191,000 after acquiring an additional 402,999 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. purchased a new stake in shares of 89bio in the fourth quarter worth $22,340,000.

Wall Street Analysts Forecast Growth

ETNB has been the topic of a number of recent research reports. HC Wainwright reissued a “buy” rating and issued a $29.00 target price on shares of 89bio in a research note on Tuesday, June 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $29.00 price objective on shares of 89bio in a research report on Monday, July 1st. Bank of America reaffirmed a “buy” rating and set a $30.00 price objective on shares of 89bio in a research report on Monday, April 22nd. Finally, Evercore ISI dropped their target price on 89bio from $37.00 to $33.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 15th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $26.67.

89bio Stock Performance

Shares of NASDAQ ETNB traded up $0.66 during trading on Thursday, hitting $9.66. The company had a trading volume of 827,828 shares, compared to its average volume of 1,128,320. The stock has a 50 day simple moving average of $8.35 and a 200 day simple moving average of $9.73. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.03 and a current ratio of 15.03. 89bio, Inc. has a 12 month low of $6.57 and a 12 month high of $18.30. The firm has a market capitalization of $950.39 million, a P/E ratio of -4.81 and a beta of 1.10.

89bio (NASDAQ:ETNB) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.08). During the same period in the previous year, the company earned ($0.54) earnings per share. As a group, analysts anticipate that 89bio, Inc. will post -2.42 earnings per share for the current year.

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.