DekaBank Deutsche Girozentrale Has $1.02 Million Stock Position in 89bio, Inc. (NASDAQ:ETNB)

DekaBank Deutsche Girozentrale raised its position in 89bio, Inc. (NASDAQ:ETNB) by 350.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,000 shares of the company’s stock after purchasing an additional 70,000 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in 89bio were worth $1,021,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its position in 89bio by 272.1% in the second quarter. BlackRock Inc. now owns 4,650,183 shares of the company’s stock worth $88,121,000 after acquiring an additional 3,400,611 shares in the last quarter. State Street Corp increased its position in 89bio by 2,823.9% during the first quarter. State Street Corp now owns 3,070,374 shares of the company’s stock worth $46,762,000 after buying an additional 2,965,364 shares during the last quarter. Braidwell LP bought a new position in 89bio during the third quarter valued at about $24,556,000. Marshall Wace LLP lifted its position in shares of 89bio by 231.0% in the fourth quarter. Marshall Wace LLP now owns 1,487,311 shares of the company’s stock worth $18,933,000 after buying an additional 1,037,931 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of 89bio during the 4th quarter worth about $13,043,000.

89bio Price Performance

NASDAQ:ETNB opened at $9.82 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 20.04 and a quick ratio of 20.04. 89bio, Inc. has a one year low of $6.57 and a one year high of $22.93. The company has a fifty day moving average price of $11.03 and a 200 day moving average price of $10.23. The stock has a market cap of $918.17 million, a P/E ratio of -4.89 and a beta of 1.04.

89bio (NASDAQ:ETNB) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). Analysts anticipate that 89bio, Inc. will post -2.2 earnings per share for the current year.

Insider Buying and Selling at 89bio

In other news, Director Ra Capital Management, L.P. acquired 1,350,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $15.35 per share, with a total value of $20,722,500.00. Following the acquisition, the director now owns 12,431,584 shares of the company’s stock, valued at $190,824,814.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Rohan Palekar sold 4,477 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $10.76, for a total value of $48,172.52. Following the completion of the transaction, the chief executive officer now directly owns 486,889 shares of the company’s stock, valued at approximately $5,238,925.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ra Capital Management, L.P. bought 1,350,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average price of $15.35 per share, with a total value of $20,722,500.00. Following the transaction, the director now directly owns 12,431,584 shares in the company, valued at $190,824,814.40. The disclosure for this purchase can be found here. Insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ETNB shares. Oppenheimer restated a “market perform” rating on shares of 89bio in a report on Tuesday, March 5th. Royal Bank of Canada reduced their price objective on shares of 89bio from $15.00 to $14.00 and set a “sector perform” rating for the company in a research note on Friday, March 1st. HC Wainwright reiterated a “buy” rating and issued a $31.00 target price on shares of 89bio in a research note on Wednesday, March 27th. Evercore ISI lifted their target price on shares of 89bio from $29.00 to $37.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $29.00 price target on shares of 89bio in a report on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.83.

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.