12,272 Shares in 89BIO $ETNB Acquired by Ieq Capital LLC

Ieq Capital LLC bought a new stake in 89BIO (NASDAQ:ETNB) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 12,272 shares of the company’s stock, valued at approximately $89,000.

A number of other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP acquired a new stake in shares of 89BIO in the fourth quarter valued at $2,676,000. Hsbc Holdings PLC acquired a new position in 89BIO during the 4th quarter worth about $87,000. Price T Rowe Associates Inc. MD boosted its holdings in 89BIO by 11.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,292 shares of the company’s stock valued at $370,000 after acquiring an additional 4,976 shares during the period. Northern Trust Corp grew its position in 89BIO by 7.6% in the 4th quarter. Northern Trust Corp now owns 854,787 shares of the company’s stock valued at $6,684,000 after acquiring an additional 60,075 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in 89BIO by 107.7% in the 4th quarter. Ameriprise Financial Inc. now owns 28,230 shares of the company’s stock valued at $221,000 after acquiring an additional 14,641 shares in the last quarter.

89BIO Price Performance

Shares of ETNB opened at $8.57 on Tuesday. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -2.37 and a beta of 1.27. The firm’s fifty day simple moving average is $9.61 and its 200-day simple moving average is $8.75. 89BIO has a twelve month low of $4.16 and a twelve month high of $11.84. The company has a current ratio of 15.19, a quick ratio of 15.19 and a debt-to-equity ratio of 0.07.

89BIO (NASDAQ:ETNB) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.22). During the same quarter in the prior year, the business posted ($0.48) earnings per share. Equities analysts forecast that 89BIO will post -3.19 EPS for the current fiscal year.

Insider Buying and Selling at 89BIO

In related news, insider Quoc Le-Nguyen sold 10,461 shares of the business’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $11.02, for a total transaction of $115,280.22. Following the completion of the sale, the insider owned 309,364 shares in the company, valued at $3,409,191.28. The trade was a 3.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. HC Wainwright assumed coverage on shares of 89BIO in a research note on Thursday, September 4th. They issued a “buy” rating and a $32.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of 89BIO in a report on Saturday, August 30th. Royal Bank Of Canada decreased their price target on shares of 89BIO from $12.00 to $11.00 and set a “sector perform” rating for the company in a research report on Friday, August 8th. Finally, Bank of America cut their price objective on 89BIO from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Monday, August 25th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $28.00.

About 89BIO

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.