Barclays PLC Boosts Stock Holdings in 89bio, Inc. (NASDAQ:ETNB)

Barclays PLC lifted its position in shares of 89bio, Inc. (NASDAQ:ETNB) by 228.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 214,768 shares of the company’s stock after acquiring an additional 149,479 shares during the period. Barclays PLC owned approximately 0.20% of 89bio worth $1,590,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC increased its holdings in shares of 89bio by 226.2% in the 2nd quarter. Quest Partners LLC now owns 8,113 shares of the company’s stock worth $65,000 after purchasing an additional 5,626 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of 89bio during the second quarter valued at $66,000. China Universal Asset Management Co. Ltd. increased its holdings in 89bio by 76.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,370 shares of the company’s stock worth $151,000 after buying an additional 8,810 shares in the last quarter. Intech Investment Management LLC bought a new stake in 89bio in the 3rd quarter worth about $160,000. Finally, Algert Global LLC raised its position in 89bio by 30.8% in the 2nd quarter. Algert Global LLC now owns 30,587 shares of the company’s stock worth $245,000 after buying an additional 7,203 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $29.00 price target on shares of 89bio in a report on Monday, November 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $29.00 target price on shares of 89bio in a report on Friday, September 20th. Finally, Raymond James raised shares of 89bio to a “strong-buy” rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.33.

89bio Stock Down 1.6 %

Shares of ETNB stock opened at $7.88 on Friday. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09. 89bio, Inc. has a 12 month low of $6.43 and a 12 month high of $16.63. The stock has a market cap of $836.27 million, a P/E ratio of -2.71 and a beta of 1.12. The company has a 50 day simple moving average of $8.42 and a two-hundred day simple moving average of $8.34.

Insider Activity

In related news, CEO Rohan Palekar acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was bought at an average cost of $7.89 per share, for a total transaction of $39,450.00. Following the purchase, the chief executive officer now owns 471,236 shares in the company, valued at $3,718,052.04. The trade was a 1.07 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles Mcwherter bought 10,000 shares of 89bio stock in a transaction that occurred on Thursday, December 5th. The stock was purchased at an average cost of $8.00 per share, with a total value of $80,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $80,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 25,000 shares of company stock valued at $202,950 in the last 90 days. Company insiders own 2.80% of the company’s stock.

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.