89bio, Inc. (NASDAQ:ETNB) Shares Sold by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC reduced its position in shares of 89bio, Inc. (NASDAQ:ETNB) by 74.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 20,210 shares of the company’s stock after selling 60,150 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in 89bio were worth $158,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Kingswood Wealth Advisors LLC acquired a new position in 89bio during the fourth quarter worth about $86,000. New York State Common Retirement Fund grew its holdings in 89bio by 24.3% during the fourth quarter. New York State Common Retirement Fund now owns 16,367 shares of the company’s stock worth $128,000 after acquiring an additional 3,200 shares during the period. Intech Investment Management LLC acquired a new position in 89bio during the third quarter worth about $160,000. Quest Partners LLC increased its stake in 89bio by 172.1% in the 3rd quarter. Quest Partners LLC now owns 22,074 shares of the company’s stock worth $163,000 after purchasing an additional 13,961 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in 89bio by 22.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,932 shares of the company’s stock worth $195,000 after purchasing an additional 4,562 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ETNB shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $29.00 price target on shares of 89bio in a research note on Thursday, January 2nd. Citigroup started coverage on 89bio in a research note on Thursday. They issued a “buy” rating and a $25.00 price target on the stock. UBS Group lifted their price target on 89bio from $25.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of 89bio in a research note on Friday, March 7th. Finally, Wolfe Research started coverage on 89bio in a research note on Tuesday, February 4th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

89bio Trading Up 3.5 %

Shares of NASDAQ ETNB opened at $8.47 on Monday. 89bio, Inc. has a one year low of $5.99 and a one year high of $13.71. The firm has a market capitalization of $1.24 billion, a PE ratio of -2.91 and a beta of 1.17. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $8.80 and a two-hundred day moving average price of $8.44.

89bio (NASDAQ:ETNB) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.42). As a group, analysts predict that 89bio, Inc. will post -3.19 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Quoc Le-Nguyen sold 10,963 shares of 89bio stock in a transaction dated Wednesday, January 15th. The stock was 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 directly owns 271,833 shares in the company, valued at $1,764,196.17. The trade was a 3.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles Mcwherter purchased 5,000 shares of 89bio stock in a transaction dated Tuesday, January 21st. The shares were purchased at an average price of $6.55 per share, with a total value of $32,750.00. Following the completion of the acquisition, the director now owns 15,000 shares in the company, valued at $98,250. The trade was a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.80% of the stock is owned by corporate insiders.

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.