89bio, Inc. (NASDAQ:ETNB – Get Rating) CFO Ryan Martins sold 5,947 shares of 89bio stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $12.51, for a total transaction of $74,396.97. Following the transaction, the chief financial officer now directly owns 36,368 shares in the company, valued at approximately $454,963.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
89bio Price Performance
ETNB stock opened at $11.54 on Friday. 89bio, Inc. has a one year low of $2.00 and a one year high of $13.46. The company's fifty day moving average price is $9.69 and its 200-day moving average price is $6.71. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.81 and a current ratio of 5.81. The company has a market capitalization of $537.07 million, a PE ratio of -2.65 and a beta of 0.89.
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Institutional Investors Weigh In On 89bio
Several large investors have recently bought and sold shares of ETNB. Rubric Capital Management LP bought a new stake in 89bio in the third quarter worth $5,729,000. Vanguard Group Inc. increased its position in 89bio by 69.1% in the third quarter. Vanguard Group Inc. now owns 1,671,584 shares of the company's stock worth $9,678,000 after purchasing an additional 683,232 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new stake in 89bio in the second quarter worth $1,630,000. DAFNA Capital Management LLC increased its position in 89bio by 136.6% in the second quarter. DAFNA Capital Management LLC now owns 766,774 shares of the company's stock worth $2,469,000 after purchasing an additional 442,721 shares during the last quarter. Finally, Orchard Capital Management LLC increased its position in 89bio by 227.5% in the third quarter. Orchard Capital Management LLC now owns 551,879 shares of the company's stock worth $3,195,000 after purchasing an additional 383,386 shares during the last quarter. Institutional investors own 87.78% of the company's stock.
Analyst Ratings Changes
Several equities analysts have weighed in on the stock. Royal Bank of Canada lowered their price target on shares of 89bio from $35.00 to $29.00 and set an "outperform" rating on the stock in a report on Friday, November 11th. Raymond James lifted their price target on shares of 89bio from $14.00 to $25.00 and gave the company a "strong-buy" rating in a report on Wednesday, September 14th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $34.00 target price (up previously from $27.00) on shares of 89bio in a report on Monday, November 14th. Seven investment analysts have rated the stock with 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 "Buy" and a consensus target price of $25.25.
About 89bio
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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.
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