89bio, Inc. (NASDAQ:ETNB) Short Interest Update

89bio, Inc. (NASDAQ:ETNBGet Free Report) saw a significant decrease in short interest in May. As of May 15th, there was short interest totalling 10,120,000 shares, a decrease of 5.9% from the April 30th total of 10,750,000 shares. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is presently 9.6 days.

Institutional Trading of 89bio

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. New York State Common Retirement Fund raised its stake in 89bio by 4.8% in the fourth quarter. New York State Common Retirement Fund now owns 26,041 shares of the company’s stock valued at $291,000 after buying an additional 1,190 shares in the last quarter. Teacher Retirement System of Texas raised its stake in 89bio by 9.0% in the fourth quarter. Teacher Retirement System of Texas now owns 15,791 shares of the company’s stock valued at $176,000 after buying an additional 1,299 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in 89bio by 10.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,760 shares of the company’s stock valued at $165,000 after buying an additional 1,360 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of 89bio by 28.4% during the first quarter. Ameritas Investment Partners Inc. now owns 7,886 shares of the company’s stock worth $92,000 after purchasing an additional 1,744 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. grew its holdings in shares of 89bio by 66.7% during the first quarter. Wetzel Investment Advisors Inc. now owns 5,000 shares of the company’s stock worth $58,000 after purchasing an additional 2,000 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms have commented on ETNB. Bank of America restated a “buy” rating and set a $30.00 price target on shares of 89bio in a research note on Monday, April 22nd. HC Wainwright restated a “buy” rating and set a $29.00 price target on shares of 89bio in a research note on Thursday, May 16th. Evercore ISI decreased their price target on 89bio from $37.00 to $33.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 15th. Cantor Fitzgerald restated an “overweight” rating and set a $29.00 price target on shares of 89bio in a research note on Friday, May 17th. Finally, Oppenheimer reiterated a “market perform” rating on shares of 89bio in a research note on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.14.

Read Our Latest Stock Analysis on ETNB

89bio Stock Up 0.3 %

Shares of NASDAQ ETNB opened at $7.92 on Tuesday. The stock has a market cap of $779.20 million, a P/E ratio of -3.94 and a beta of 1.15. The company has a current ratio of 15.03, a quick ratio of 15.03 and a debt-to-equity ratio of 0.05. 89bio has a 12-month low of $6.57 and a 12-month high of $22.93. The business’s fifty day simple moving average is $9.33 and its 200-day simple moving average is $10.10.

89bio (NASDAQ:ETNBGet Free Report) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.08). During the same quarter in the prior year, the business posted ($0.54) earnings per share. As a group, equities analysts predict that 89bio will post -2.42 EPS for the current fiscal year.

89bio Company Profile

(Get 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.

Read More

Receive News & Ratings for 89bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 89bio and related companies with MarketBeat.com's FREE daily email newsletter.