Harbor Capital Advisors Inc. Purchases 23,968 Shares of 89bio, Inc. (NASDAQ:ETNB)

Harbor Capital Advisors Inc. raised its position in 89bio, Inc. (NASDAQ:ETNB) by 10.5% in the 4th quarter, Holdings Channel reports. The firm owned 251,898 shares of the company’s stock after buying an additional 23,968 shares during the period. Harbor Capital Advisors Inc.’s holdings in 89bio were worth $1,970,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Quest Partners LLC grew its holdings in shares of 89bio by 226.2% in the 2nd quarter. Quest Partners LLC now owns 8,113 shares of the company’s stock valued at $65,000 after buying an additional 5,626 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in 89bio in the second quarter valued at about $66,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of 89bio by 76.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,370 shares of the company’s stock worth $151,000 after acquiring an additional 8,810 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of 89bio during the third quarter worth about $160,000. Finally, SG Americas Securities LLC lifted its holdings in shares of 89bio by 21.4% during the 3rd quarter. SG Americas Securities LLC now owns 30,713 shares of the company’s stock valued at $227,000 after purchasing an additional 5,421 shares in the last quarter.

Insiders Place Their Bets

In other news, CEO Rohan Palekar bought 5,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average cost of $7.89 per share, for a total transaction of $39,450.00. Following the completion of the acquisition, the chief executive officer now owns 471,236 shares in the company, valued at approximately $3,718,052.04. This represents a 1.07 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles Mcwherter purchased 10,000 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was purchased at an average price of $8.00 per share, with a total value of $80,000.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $80,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 25,000 shares of company stock valued at $202,950 in the last three months. 2.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

89bio Stock Performance

Shares of ETNB stock opened at $6.51 on Friday. 89bio, Inc. has a 12 month low of $6.26 and a 12 month high of $16.63. The company’s fifty day simple moving average is $8.32 and its 200-day simple moving average is $8.27. The firm has a market cap of $690.88 million, a PE ratio of -2.24 and a beta of 1.14. 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 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.