Rhumbline Advisers increased its stake in shares of 89BIO (NASDAQ:ETNB – Free Report) by 17.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 152,138 shares of the company’s stock after buying an additional 22,158 shares during the quarter. Rhumbline Advisers’ holdings in 89BIO were worth $1,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in 89BIO by 2.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,154 shares of the company’s stock worth $400,000 after acquiring an additional 1,169 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of 89BIO by 11.5% in the fourth quarter. Victory Capital Management Inc. now owns 13,969 shares of the company’s stock valued at $109,000 after purchasing an additional 1,437 shares during the period. Sandia Investment Management LP raised its stake in shares of 89BIO by 28.5% in the fourth quarter. Sandia Investment Management LP now owns 11,286 shares of the company’s stock worth $88,000 after purchasing an additional 2,500 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of 89BIO by 24.3% in the fourth quarter. New York State Common Retirement Fund now owns 16,367 shares of the company’s stock worth $128,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of 89BIO by 15.8% during the fourth quarter. Arizona State Retirement System now owns 23,817 shares of the company’s stock worth $186,000 after purchasing an additional 3,252 shares during the period.
89BIO Price Performance
Shares of NASDAQ ETNB opened at $10.00 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 18.03 and a quick ratio of 18.03. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -2.96 and a beta of 1.30. The firm’s 50 day simple moving average is $8.44 and its 200-day simple moving average is $8.30. 89BIO has a 12 month low of $4.16 and a 12 month high of $11.84.
Insider Buying and Selling at 89BIO
In other news, insider Quoc Le-Nguyen sold 15,329 shares of the stock in a transaction dated Tuesday, April 15th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.60% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on ETNB shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of 89BIO in a research report on Wednesday, June 11th. Citigroup assumed coverage on shares of 89BIO in a research note on Thursday, March 13th. They set a “buy” rating and a $25.00 price objective for the company. Cantor Fitzgerald upgraded shares of 89BIO to a “strong-buy” rating in a research note on Wednesday, April 30th. The Goldman Sachs Group started coverage on shares of 89BIO in a report on Friday, March 14th. They set a “neutral” rating and a $11.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and set a $21.00 target price (down from $29.00) on shares of 89BIO in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, 89BIO has an average rating of “Buy” and an average target price of $26.43.
View Our Latest Research Report on ETNB
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.
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