89bio, Inc. (NASDAQ:ETNB) Insider Sells $71,149.87 in Stock

89bio, Inc. (NASDAQ:ETNB) insider Quoc Le-Nguyen sold 10,963 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $6.49, for a total value of $71,149.87. Following the completion of the sale, the insider now directly owns 271,833 shares of the company’s stock, valued at $1,764,196.17. The trade was a 3.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

89bio Stock Performance

ETNB traded up $0.21 during trading on Friday, hitting $6.31. The stock had a trading volume of 1,862,817 shares, compared to its average volume of 950,747. 89bio, Inc. has a twelve month low of $5.99 and a twelve month high of $16.63. The firm has a market capitalization of $669.68 million, a P/E ratio of -2.17 and a beta of 1.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. The company’s 50-day moving average price is $8.05 and its 200 day moving average price is $8.22.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ETNB. Northwestern Mutual Wealth Management Co. purchased a new stake in 89bio in the 2nd quarter valued at approximately $66,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of 89bio by 76.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,370 shares of the company’s stock valued at $151,000 after buying an additional 8,810 shares during the period. Intech Investment Management LLC purchased a new stake in shares of 89bio in the third quarter valued at approximately $160,000. Quest Partners LLC grew its holdings in 89bio by 172.1% during the third quarter. Quest Partners LLC now owns 22,074 shares of the company’s stock worth $163,000 after acquiring an additional 13,961 shares during the period. Finally, SG Americas Securities LLC raised its position in 89bio by 21.4% in the third quarter. SG Americas Securities LLC now owns 30,713 shares of the company’s stock worth $227,000 after acquiring an additional 5,421 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently commented on ETNB. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $29.00 target price on shares of 89bio in a report on Thursday, January 2nd. HC Wainwright restated a “buy” rating and issued a $29.00 price objective on shares of 89bio in a research note on Monday, November 11th. Finally, Raymond James upgraded shares of 89bio to a “strong-buy” rating in a research note on Thursday, December 12th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.33.

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.