Bourgeon Capital Management LLC Has $237,000 Stock Holdings in 89bio, Inc. (NASDAQ:ETNB)

Bourgeon Capital Management LLC lowered its stake in 89bio, Inc. (NASDAQ:ETNBFree Report) by 8.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,254 shares of the company’s stock after selling 2,806 shares during the period. Bourgeon Capital Management LLC’s holdings in 89bio were worth $237,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ETNB. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of 89bio during the 4th quarter valued at $739,000. Assenagon Asset Management S.A. bought a new stake in shares of 89bio during the fourth quarter worth about $1,897,000. Harbor Capital Advisors Inc. increased its stake in shares of 89bio by 10.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 251,898 shares of the company’s stock valued at $1,970,000 after buying an additional 23,968 shares during the period. JPMorgan Chase & Co. raised its holdings in 89bio by 77.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,467 shares of the company’s stock valued at $736,000 after buying an additional 43,384 shares during the last quarter. Finally, Exome Asset Management LLC acquired a new stake in 89bio during the 3rd quarter worth approximately $2,224,000.

89bio Stock Performance

Shares of ETNB stock opened at $6.58 on Wednesday. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09. 89bio, Inc. has a 52 week low of $5.99 and a 52 week high of $16.63. The firm has a 50 day moving average of $7.89 and a 200-day moving average of $8.22. The company has a market cap of $698.34 million, a price-to-earnings ratio of -2.26 and a beta of 1.14.

Analyst Upgrades and Downgrades

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

Read Our Latest Analysis on ETNB

Insider Buying and Selling at 89bio

In other 89bio news, insider Quoc Le-Nguyen sold 10,963 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $6.49, for a total value of $71,149.87. Following the transaction, the insider now directly owns 271,833 shares of the company’s stock, valued at approximately $1,764,196.17. This trade represents a 3.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rohan Palekar bought 10,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were acquired at an average cost 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 $3,893,070.60. This represents a 2.19 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 25,000 shares of company stock valued at $202,950. Corporate insiders own 2.80% of the company’s stock.

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. 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.

See Also

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

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