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Barclays PLC Increases Stake in 89bio, Inc. (NASDAQ:ETNB)

Defense World · Feb 3, 2023 05:31

Barclays PLC boosted its position in shares of 89bio, Inc. (NASDAQ:ETNB – Get Rating) by 1,490.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 388,982 shares of the company's stock after purchasing an additional 364,518 shares during the quarter. Barclays PLC owned about 1.91% of 89bio worth $2,252,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new stake in 89bio during the 1st quarter valued at about $34,000. Rhumbline Advisers purchased a new stake in 89bio during the 1st quarter valued at about $42,000. Mirabella Financial Services LLP purchased a new stake in 89bio during the 1st quarter valued at about $43,000. Virtu Financial LLC purchased a new stake in 89bio during the 2nd quarter valued at about $65,000. Finally, Cubist Systematic Strategies LLC grew its position in 89bio by 33.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,342 shares of the company's stock valued at $82,000 after purchasing an additional 6,410 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at 89bio

In other news, CFO Ryan Martins sold 5,947 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $12.51, for a total value of $74,396.97. Following the transaction, the chief financial officer now owns 36,368 shares in the company, valued at approximately $454,963.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 11.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ETNB shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $34.00 price target (up previously from $27.00) on shares of 89bio in a report on Monday, November 14th. Royal Bank of Canada dropped 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. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, 89bio has a consensus rating of "Buy" and a consensus target price of $25.25.

89bio Price Performance

Shares of NASDAQ:ETNB opened at $12.70 on Friday. The firm's 50 day moving average price is $10.64 and its 200-day moving average price is $7.76. 89bio, Inc. has a twelve month low of $2.00 and a twelve month high of $12.95. The company has a quick ratio of 5.81, a current ratio of 5.81 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $591.06 million, a PE ratio of -2.91 and a beta of 0.80.

89bio (NASDAQ:ETNB – Get Rating) last issued its quarterly earnings data on Thursday, November 10th. The company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.32. Equities research analysts expect that 89bio, Inc. will post -2.65 EPS for the current year.

89bio Profile

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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.

Barclays PLC Increases Stake in 89bio, Inc. (NASDAQ:ETNB)

Insider Transactions at 89bio

Analyst Upgrades and Downgrades

89bio Price Performance

89bio Profile

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