Inspire Investing LLC Decreases Stock Holdings in 89bio, Inc. (NASDAQ:ETNB)

Inspire Investing LLC lessened its stake in 89bio, Inc. (NASDAQ:ETNB) by 7.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 51,717 shares of the company’s stock after selling 4,395 shares during the quarter. Inspire Investing LLC’s holdings in 89bio were worth $404,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Barclays PLC lifted its position in shares of 89bio by 228.9% in the third quarter. Barclays PLC now owns 214,768 shares of the company’s stock valued at $1,590,000 after acquiring an additional 149,479 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in 89bio in the 4th quarter valued at $1,897,000. Geode Capital Management LLC boosted its stake in 89bio by 8.4% during the 3rd 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 last quarter. FMR LLC grew its holdings in shares of 89bio by 2,153.2% during the third quarter. FMR LLC now owns 73,386 shares of the company’s stock worth $543,000 after buying an additional 70,129 shares in the last quarter. Finally, HighVista Strategies LLC acquired a new stake in shares of 89bio in the third quarter valued at about $494,000.

Insider Buying and Selling at 89bio

In related news, Director Charles Mcwherter acquired 5,000 shares of the firm’s stock in a transaction dated 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 acquisition, the director now owns 15,000 shares in the company, valued at $98,250. The trade was a 50.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rohan Palekar purchased 10,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were purchased at an average price of $8.35 per share, with a total value of $83,500.00. Following the completion of the transaction, the chief executive officer now owns 466,236 shares of the company’s stock, valued at approximately $3,893,070.60. This trade represents a 2.19 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 30,000 shares of company stock worth $235,700 over the last quarter. 2.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Raymond James upgraded shares of 89bio to a “strong-buy” rating in a research report on Thursday, December 12th. Cantor Fitzgerald restated an “overweight” rating and set a $29.00 target price on shares of 89bio in a report on Thursday, January 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 89bio in a report on Saturday, January 18th. Finally, HC Wainwright reissued a “buy” rating and set a $29.00 price objective on shares of 89bio in a research note on Tuesday, January 21st. Two 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.33.

89bio Trading Up 3.0 %

ETNB opened at $7.13 on Friday. The stock has a market capitalization of $756.71 million, a PE ratio of -2.45 and a beta of 1.14. 89bio, Inc. has a one year low of $5.99 and a one year high of $16.63. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. The business’s 50 day moving average price is $7.74 and its 200 day moving average price is $8.18.

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.