Charles Schwab Investment Management Inc. Purchases 53,932 Shares of 89bio, Inc. (NASDAQ:ETNB)

Charles Schwab Investment Management Inc. raised its position in 89bio, Inc. (NASDAQ:ETNB) by 8.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 721,050 shares of the company’s stock after purchasing an additional 53,932 shares during the period. Charles Schwab Investment Management Inc. owned 0.73% of 89bio worth $5,336,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in 89bio by 28.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,221 shares of the company’s stock worth $364,000 after purchasing an additional 7,000 shares during the period. SG Americas Securities LLC bought a new position in shares of 89bio in the second quarter worth approximately $203,000. Raymond James & Associates raised its holdings in shares of 89bio by 35.2% during the second quarter. Raymond James & Associates now owns 182,943 shares of the company’s stock valued at $1,465,000 after purchasing an additional 47,670 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in 89bio by 20.5% during the second quarter. Bank of New York Mellon Corp now owns 299,689 shares of the company’s stock valued at $2,401,000 after buying an additional 50,943 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in 89bio by 26.9% during the second quarter. Rhumbline Advisers now owns 128,944 shares of the company’s stock valued at $1,033,000 after buying an additional 27,334 shares during the last quarter.

89bio Price Performance

Shares of NASDAQ ETNB opened at $7.85 on Friday. The firm has a market capitalization of $833.09 million, a P/E ratio of -2.70 and a beta of 1.12. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. 89bio, Inc. has a one year low of $7.00 and a one year high of $16.63. The company’s fifty day moving average is $8.40 and its two-hundred day moving average is $8.37.

Insider Buying and Selling at 89bio

In other news, CEO Rohan Palekar bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average price of $8.35 per share, with a total value of $83,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 466,236 shares of the company’s stock, valued at $3,893,070.60. This trade represents a 2.19 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have purchased 25,000 shares of company stock worth $202,950. Company insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $29.00 target price on shares of 89bio in a research report on Friday, September 20th. Raymond James cut their target price on shares of 89bio from $53.00 to $49.00 and set a “strong-buy” rating on the stock in a research report on Friday, November 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $29.00 target price on shares of 89bio in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.33.

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.