47,469 Shares in 89bio, Inc. (NASDAQ:ETNB) Acquired by BIT Capital GmbH

BIT Capital GmbH acquired a new stake in shares of 89bio, Inc. (NASDAQ:ETNB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 47,469 shares of the company’s stock, valued at approximately $371,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kingswood Wealth Advisors LLC acquired a new stake in 89bio in the fourth quarter valued at about $86,000. Victory Capital Management Inc. raised its stake in shares of 89bio by 11.5% during the fourth quarter. Victory Capital Management Inc. now owns 13,969 shares of the company’s stock valued at $109,000 after acquiring an additional 1,437 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in 89bio during the 4th quarter worth about $114,000. New York State Common Retirement Fund raised its position in shares of 89bio by 24.3% during the fourth quarter. New York State Common Retirement Fund now owns 16,367 shares of the company’s stock worth $128,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of 89bio in the third quarter worth approximately $160,000.

89bio Trading Up 0.1 %

NASDAQ ETNB opened at $8.02 on Thursday. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09. 89bio, Inc. has a 52 week low of $5.99 and a 52 week high of $11.84. The business has a 50 day moving average price of $9.07 and a 200-day moving average price of $8.42. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -2.76 and a beta of 1.17.

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

Insider Activity

In other 89bio news, Director Ra Capital Management, L.P. purchased 5,714,285 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was bought at an average cost of $8.75 per share, with a total value of $49,999,993.75. Following the completion of the transaction, the director now owns 19,554,319 shares of the company’s stock, valued at $171,100,291.25. The trade was a 41.29 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Quoc Le-Nguyen sold 10,963 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $6.49, for a total value of $71,149.87. Following the completion of the transaction, the insider now directly owns 271,833 shares in the company, valued at approximately $1,764,196.17. This represents a 3.88 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. UBS Group boosted their price target 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $29.00 price objective on shares of 89bio in a research report on Thursday, January 2nd. Citigroup started coverage on 89bio in a research report on Thursday, March 13th. They set a “buy” rating and a $25.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of 89bio in a report on Saturday, March 22nd. Finally, HC Wainwright restated a “buy” rating and set a $21.00 price target (down from $29.00) on shares of 89bio in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

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.