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 89bio stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $6.49, for a total transaction of $71,149.87. Following the sale, the insider now owns 271,833 shares of the company’s stock, valued at approximately $1,764,196.17. This represents a 3.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

89bio Stock Up 3.6 %

Shares of 89bio stock opened at $6.31 on Friday. 89bio, Inc. has a 52-week low of $5.99 and a 52-week high of $16.63. The company has a 50 day moving average of $7.96 and a 200 day moving average of $8.21. The company has a quick ratio of 11.66, a current 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.

Analyst Ratings Changes

ETNB has been the subject of a number of recent analyst reports. Raymond James upgraded shares of 89bio to a “strong-buy” rating in a research report on Thursday, December 12th. HC Wainwright reiterated a “buy” rating and set a $29.00 price target on shares of 89bio in a research report on Monday, November 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $29.00 price objective on shares of 89bio in a research note on Thursday, January 2nd. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.33.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ETNB. Rhumbline Advisers lifted its stake in 89bio by 26.9% in the second quarter. Rhumbline Advisers now owns 128,944 shares of the company’s stock worth $1,033,000 after acquiring an additional 27,334 shares during the last quarter. American Century Companies Inc. lifted its position in shares of 89bio by 219.0% during the 2nd quarter. American Century Companies Inc. now owns 63,864 shares of the company’s stock worth $512,000 after buying an additional 43,842 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of 89bio during the 2nd quarter worth approximately $2,238,000. XTX Topco Ltd purchased a new stake in shares of 89bio during the 2nd quarter worth approximately $256,000. Finally, Integral Health Asset Management LLC lifted its position in shares of 89bio by 50.0% during the 2nd quarter. Integral Health Asset Management LLC now owns 450,000 shares of the company’s stock worth $3,604,000 after buying an additional 150,000 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.