89bio, Inc. (NASDAQ:ETNB) Director Charles Mcwherter Buys 5,000 Shares of Stock

89bio, Inc. (NASDAQ:ETNB) Director Charles Mcwherter acquired 5,000 shares of 89bio stock in a transaction that occurred on Tuesday, January 21st. The stock was purchased at an average price of $6.55 per share, with a total value of $32,750.00. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $98,250. This trade represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Charles Mcwherter also recently made the following trade(s):

• On Thursday, December 5th, Charles Mcwherter bought 10,000 shares of 89bio stock. The shares were acquired at an average cost of $8.00 per share, with a total value of $80,000.00.

89bio Stock Performance

Shares of ETNB opened at $6.92 on Friday. 89bio, Inc. has a 12-month low of $5.99 and a 12-month high of $16.63. The stock has a market cap of $734.42 million, a P/E ratio of -2.38 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. The company has a 50-day moving average of $7.80 and a two-hundred day moving average of $8.20.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC increased its position in 89bio by 14.2% during the third quarter. Janus Henderson Group PLC now owns 15,158,218 shares of the company’s stock worth $112,140,000 after buying an additional 1,882,108 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of 89bio by 29.6% during the third quarter. Westfield Capital Management Co. LP now owns 3,006,038 shares of the company’s stock valued at $22,245,000 after acquiring an additional 686,673 shares during the last quarter. Geode Capital Management LLC increased its position 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 in the last quarter. Erste Asset Management GmbH acquired a new position in 89bio in the 3rd quarter valued at about $5,631,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in 89bio by 8.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 721,050 shares of the company’s stock valued at $5,336,000 after purchasing an additional 53,932 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages recently weighed in on ETNB. HC Wainwright reaffirmed a “buy” rating and set a $29.00 price objective on shares of 89bio in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of 89bio in a report on Saturday, January 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $29.00 price objective on shares of 89bio in a research note on Thursday, January 2nd. Finally, Raymond James upgraded shares of 89bio to a “strong-buy” rating in a research report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, 89bio has a consensus rating of “Moderate Buy” and an average target price of $30.33.

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.