Jacobs Levy Equity Management Inc. Buys Shares of 98,848 89BIO $ETNB

Jacobs Levy Equity Management Inc. acquired a new stake in shares of 89BIO (NASDAQ:ETNB) during the first quarter, according to its most recent filing with the SEC. The fund acquired 98,848 shares of the company’s stock, valued at approximately $719,000. Jacobs Levy Equity Management Inc. owned 0.07% of 89BIO as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ETNB. CWM LLC boosted its holdings in 89BIO by 9,265.1% during the 1st quarter. CWM LLC now owns 5,900 shares of the company’s stock valued at $43,000 after acquiring an additional 5,837 shares during the period. GAMMA Investing LLC boosted its stake in 89BIO by 4,898.7% during the 1st quarter. GAMMA Investing LLC now owns 7,648 shares of the company’s stock valued at $56,000 after purchasing an additional 7,495 shares during the last quarter. Sandia Investment Management LP boosted its stake in shares of 89BIO by 28.5% in the 4th quarter. Sandia Investment Management LP now owns 11,286 shares of the company’s stock worth $88,000 after buying an additional 2,500 shares during the last quarter. Ieq Capital LLC bought a new position in 89BIO in the 1st quarter worth $89,000. Finally, Allianz Asset Management GmbH bought a new stake in 89BIO during the first quarter valued at about $93,000.

Insider Buying and Selling at 89BIO

In other news, insider Quoc Le-Nguyen sold 10,461 shares of 89BIO stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $11.02, for a total value of $115,280.22. Following the sale, the insider owned 309,364 shares of the company’s stock, valued at $3,409,191.28. The trade was a 3.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by insiders.

89BIO Stock Performance

NASDAQ:ETNB opened at $8.07 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 15.19 and a current ratio of 15.19. 89BIO has a fifty-two week low of $4.16 and a fifty-two week high of $11.84. The stock has a market capitalization of $1.20 billion, a P/E ratio of -2.24 and a beta of 1.27. The company has a 50 day moving average price of $9.49 and a 200 day moving average price of $8.73.

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

Analyst Ratings Changes

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

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.