89bio’s (ETNB) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of 89bio (NASDAQ:ETNB) in a research note issued to investors on Tuesday,Benzinga reports. HC Wainwright currently has a $29.00 target price on the stock.

A number of other research analysts have also recently weighed in on ETNB. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 89bio in a report on Saturday, January 18th. Raymond James upgraded 89bio to a “strong-buy” rating in a research report on Thursday, December 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $29.00 price target on shares of 89bio in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.33.

89bio Trading Up 2.5 %

89bio stock opened at $6.92 on Tuesday. The firm has a market cap of $734.42 million, a PE ratio of -2.38 and a beta of 1.14. 89bio has a 12 month low of $5.99 and a 12 month high of $16.63. The stock’s 50 day simple moving average is $7.80 and its two-hundred day simple moving average is $8.20. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09.

Insider Activity at 89bio

In other 89bio news, Director Charles Mcwherter purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were purchased at an average cost of $6.55 per share, for a total transaction of $32,750.00. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $98,250. The trade was a 50.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Quoc Le-Nguyen sold 10,963 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $6.49, for a total transaction of $71,149.87. Following the completion of the sale, the insider now owns 271,833 shares of the company’s stock, valued at approximately $1,764,196.17. The trade was a 3.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders bought 30,000 shares of company stock valued at $235,700. 2.80% of the stock is owned by insiders.

Institutional Investors Weigh In On 89bio

Several hedge funds and other institutional investors have recently made changes to their positions in ETNB. Barclays PLC raised its stake in 89bio by 228.9% during the third quarter. Barclays PLC now owns 214,768 shares of the company’s stock worth $1,590,000 after purchasing an additional 149,479 shares during the period. Geode Capital Management LLC raised its position in shares of 89bio by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,074,970 shares of the company’s stock valued at $15,358,000 after buying an additional 160,356 shares during the period. FMR LLC lifted its holdings in 89bio by 2,153.2% in the third quarter. FMR LLC now owns 73,386 shares of the company’s stock valued at $543,000 after acquiring an additional 70,129 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in 89bio in the fourth quarter worth approximately $1,897,000. Finally, HighVista Strategies LLC acquired a new stake in 89bio during the third quarter worth $494,000.

89bio Company 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.