Barclays PLC Acquires 149,479 Shares of 89bio, Inc. (NASDAQ:ETNB)

Barclays PLC increased its holdings in shares of 89bio, Inc. (NASDAQ:ETNB) by 228.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 214,768 shares of the company’s stock after buying an additional 149,479 shares during the period. Barclays PLC owned 0.20% of 89bio worth $1,590,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Quest Partners LLC grew its holdings in 89bio by 226.2% during the 2nd quarter. Quest Partners LLC now owns 8,113 shares of the company’s stock worth $65,000 after acquiring an additional 5,626 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in 89bio in the second quarter valued at about $66,000. China Universal Asset Management Co. Ltd. increased its holdings in 89bio by 76.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,370 shares of the company’s stock valued at $151,000 after purchasing an additional 8,810 shares during the last quarter. Intech Investment Management LLC bought a new stake in 89bio in the third quarter valued at about $160,000. Finally, Algert Global LLC boosted its holdings in 89bio by 30.8% during the second 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.

Insider Transactions at 89bio

In other news, CEO Rohan Palekar acquired 5,000 shares of 89bio stock in a transaction dated Friday, December 6th. The stock was bought at an average cost of $7.89 per share, with a total value of $39,450.00. Following the completion of the transaction, the chief executive officer now directly owns 471,236 shares of the company’s stock, valued at approximately $3,718,052.04. This represents a 1.07 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles Mcwherter acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were purchased at an average price of $8.00 per share, with a total value of $80,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $80,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased 25,000 shares of company stock valued at $202,950 over the last quarter. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. HC Wainwright restated a “buy” rating and set a $29.00 target price on shares of 89bio in a research report on Monday, November 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $29.00 target price on shares of 89bio in a research note on Thursday, January 2nd. Finally, Raymond James upgraded shares of 89bio to a “strong-buy” rating in a report on Thursday, December 12th. Two 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.33.

89bio Price Performance

Shares of ETNB opened at $6.51 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. The firm has a market capitalization of $690.88 million, a PE ratio of -2.24 and a beta of 1.14. The stock has a 50 day simple moving average of $8.32 and a 200 day simple moving average of $8.27. 89bio, Inc. has a 52-week low of $6.26 and a 52-week high of $16.63.

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.