Quoc Le-Nguyen Sells 10,963 Shares of 89bio, Inc. (NASDAQ:ETNB) Stock

89bio, Inc. (NASDAQ:ETNB) insider Quoc Le-Nguyen sold 10,963 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $6.49, for a total value of $71,149.87. Following the completion of the transaction, the insider now owns 271,833 shares in the company, valued at $1,764,196.17. This represents a 3.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

89bio Price Performance

Shares of NASDAQ:ETNB opened at $6.31 on Monday. The firm has a market capitalization of $669.68 million, a PE ratio of -2.17 and a beta of 1.14. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09. 89bio, Inc. has a 1-year low of $5.99 and a 1-year high of $16.63. The business’s 50 day moving average is $7.96 and its 200-day moving average is $8.22.

Institutional Investors Weigh In On 89bio

A number of institutional investors have recently bought and sold shares of ETNB. Barclays PLC lifted its holdings in shares of 89bio by 228.9% during the 3rd quarter. Barclays PLC now owns 214,768 shares of the company’s stock worth $1,590,000 after acquiring an additional 149,479 shares during the period. FMR LLC raised its position in 89bio by 2,153.2% in the third quarter. FMR LLC now owns 73,386 shares of the company’s stock worth $543,000 after purchasing an additional 70,129 shares in the last quarter. Geode Capital Management LLC lifted its stake in 89bio by 8.4% during the third quarter. Geode Capital Management LLC now owns 2,074,970 shares of the company’s stock worth $15,358,000 after purchasing an additional 160,356 shares during the period. HighVista Strategies LLC acquired a new stake in 89bio during the third quarter valued at approximately $494,000. Finally, Harbor Capital Advisors Inc. grew its stake in shares of 89bio by 165.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 227,930 shares of the company’s stock valued at $1,687,000 after purchasing an additional 142,032 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of 89bio in a research note on Saturday. HC Wainwright reissued a “buy” rating and set a $29.00 price objective on shares of 89bio in a research report on Monday, November 11th. Raymond James raised 89bio to a “strong-buy” rating in a report on Thursday, December 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.33.

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.