Parkman Healthcare Partners LLC lowered its position in 89bio, Inc. (NASDAQ:ETNB – Free Report) by 39.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 219,448 shares of the company’s stock after selling 144,105 shares during the period. Parkman Healthcare Partners LLC owned 0.24% of 89bio worth $2,451,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in 89bio by 193.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 489,004 shares of the company’s stock valued at $7,550,000 after acquiring an additional 322,339 shares during the last quarter. Campbell & CO Investment Adviser LLC grew its position in shares of 89bio by 18.2% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 15,037 shares of the company’s stock worth $232,000 after buying an additional 2,318 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in shares of 89bio by 93.2% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 51,400 shares of the company’s stock valued at $794,000 after acquiring an additional 24,800 shares in the last quarter. Citigroup Inc. lifted its position in shares of 89bio by 20.3% during the 3rd quarter. Citigroup Inc. now owns 161,856 shares of the company’s stock valued at $2,499,000 after acquiring an additional 27,294 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in 89bio by 53.7% during the third quarter. PNC Financial Services Group Inc. now owns 13,400 shares of the company’s stock worth $207,000 after acquiring an additional 4,680 shares in the last quarter.
89bio Stock Performance
Shares of ETNB traded down $0.17 on Thursday, reaching $9.29. 730,205 shares of the company’s stock traded hands, compared to its average volume of 1,111,614. The stock’s 50 day simple moving average is $8.92 and its two-hundred day simple moving average is $10.12. The stock has a market cap of $913.99 million, a PE ratio of -4.62 and a beta of 1.11. 89bio, Inc. has a 52-week low of $6.57 and a 52-week high of $22.10. The company has a current ratio of 15.03, a quick ratio of 15.03 and a debt-to-equity ratio of 0.05.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. Evercore ISI dropped their price objective on shares of 89bio from $37.00 to $33.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th. HC Wainwright reissued a “buy” rating and issued a $29.00 price objective on shares of 89bio in a research note on Tuesday. Royal Bank of Canada decreased their price objective on 89bio from $15.00 to $14.00 and set a “sector perform” rating for the company in a report on Friday, March 1st. Oppenheimer reiterated a “market perform” rating on shares of 89bio in a report on Tuesday, March 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $29.00 price target on shares of 89bio in a research note on Wednesday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.14.
Read Our Latest 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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