89bio, Inc. (NASDAQ:ETNB) Insider Sells $71,149.87 in Stock

89bio, Inc. (NASDAQ:ETNB) insider Quoc Le-Nguyen sold 10,963 shares of the business’s stock in a transaction 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 sale, the insider now owns 271,833 shares in the company, valued at approximately $1,764,196.17. The trade was a 3.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

89bio Trading Up 3.4 %

Shares of NASDAQ ETNB traded up $0.21 during midday trading on Friday, reaching $6.31. 1,862,817 shares of the stock were exchanged, compared to its average volume of 950,747. The stock has a 50 day moving average price of $8.05 and a 200-day moving average price of $8.22. 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 market capitalization of $669.68 million, a P/E ratio of -2.17 and a beta of 1.14. 89bio, Inc. has a 52-week low of $5.99 and a 52-week high of $16.63.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ETNB shares. HC Wainwright reiterated a “buy” rating and issued a $29.00 price objective on shares of 89bio in a research report on Monday, November 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $29.00 price target on shares of 89bio in a research report on Thursday, January 2nd. Finally, Raymond James upgraded 89bio to a “strong-buy” rating in a research report on Thursday, December 12th. Two research 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, 89bio currently has a consensus rating of “Moderate Buy” and an average price target of $30.33.

Institutional Trading of 89bio

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new position in shares of 89bio during the 2nd quarter worth $66,000. China Universal Asset Management Co. Ltd. increased its stake in 89bio by 76.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,370 shares of the company’s stock valued at $151,000 after purchasing an additional 8,810 shares during the last quarter. Intech Investment Management LLC purchased a new position in 89bio during the third quarter worth about $160,000. Quest Partners LLC boosted 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 buying an additional 13,961 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in 89bio by 21.4% in the 3rd quarter. SG Americas Securities LLC now owns 30,713 shares of the company’s stock worth $227,000 after buying an additional 5,421 shares during the last quarter.

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.