Assenagon Asset Management S.A. Purchases New Holdings in 89bio, Inc. (NASDAQ:ETNB)

Assenagon Asset Management S.A. purchased a new stake in shares of 89bio, Inc. (NASDAQ:ETNBFree Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 317,751 shares of the company’s stock, valued at approximately $4,906,000. Assenagon Asset Management S.A. owned about 0.42% of 89bio as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the stock. Bourgeon Capital Management LLC boosted its position in 89bio by 85.0% during the third quarter. Bourgeon Capital Management LLC now owns 55,500 shares of the company’s stock valued at $857,000 after purchasing an additional 25,500 shares during the last quarter. TD Asset Management Inc acquired a new stake in shares of 89bio in the third quarter valued at approximately $766,000. Raymond James & Associates lifted its position in shares of 89bio by 3.5% in the third quarter. Raymond James & Associates now owns 102,988 shares of the company’s stock valued at $1,590,000 after buying an additional 3,464 shares during the last quarter. Barclays PLC lifted its position in shares of 89bio by 22.2% in the second quarter. Barclays PLC now owns 196,068 shares of the company’s stock valued at $3,715,000 after buying an additional 35,592 shares during the last quarter. Finally, Tucker Asset Management LLC lifted its position in shares of 89bio by 508.8% in the second quarter. Tucker Asset Management LLC now owns 7,647 shares of the company’s stock valued at $145,000 after buying an additional 6,391 shares during the last quarter.

89bio Trading Down 4.9 %

Shares of ETNB opened at $10.19 on Wednesday. 89bio, Inc. has a 52-week low of $6.57 and a 52-week high of $22.93. The business’s fifty day moving average is $10.30 and its 200-day moving average is $12.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.23 and a current ratio of 18.23. The firm has a market cap of $949.77 million, a price-to-earnings ratio of -5.12 and a beta of 1.00.

89bio (NASDAQ:ETNBGet Free Report) last issued its quarterly earnings results on Wednesday, November 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.08. The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.38 million. The company’s revenue for the quarter was up .0% on a year-over-year basis. Equities analysts anticipate that 89bio, Inc. will post -2.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ETNB. Royal Bank of Canada cut 89bio from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $24.00 to $15.00 in a research report on Friday, January 12th. Oppenheimer cut 89bio from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 10th. UBS Group dropped their price target on 89bio from $36.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, October 12th. Evercore ISI dropped their price target on 89bio from $49.00 to $29.00 in a report on Wednesday, October 11th. Finally, HC Wainwright dropped their price target on 89bio from $35.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 20th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.56.

Check Out Our Latest Research Report on ETNB

89bio Company Profile

(Free Report)

89bio, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapies for the treatment of liver and cardio-metabolic diseases. The company's 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.

Further Reading

Institutional Ownership by Quarter for 89bio (NASDAQ:ETNB)

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