89bio (NASDAQ:ETNB) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of 89bio (NASDAQ:ETNB) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $29.00 target price on the stock.

A number of other analysts also recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 89bio in a research report on Saturday. Raymond James raised shares of 89bio to a “strong-buy” rating in a research note on Thursday, December 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $29.00 target price on shares of 89bio in a research note on Thursday, January 2nd. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.33.

89bio Trading Up 4.3 %

ETNB opened at $6.58 on Tuesday. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09. 89bio has a 52 week low of $5.99 and a 52 week high of $16.63. The stock has a market cap of $698.34 million, a PE ratio of -2.26 and a beta of 1.14. The business has a 50 day moving average of $7.89 and a 200-day moving average of $8.22.

Insider Buying and Selling at 89bio

In related news, insider Quoc Le-Nguyen sold 10,963 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $6.49, for a total value of $71,149.87. Following the transaction, the insider now directly owns 271,833 shares of the company’s stock, valued at approximately $1,764,196.17. This represents a 3.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles Mcwherter bought 10,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were acquired at an average price of $8.00 per share, for a total transaction of $80,000.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at approximately $80,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 25,000 shares of company stock worth $202,950. 2.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On 89bio

A number of hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of 89bio during the 2nd quarter valued at about $66,000. China Universal Asset Management Co. Ltd. grew its position 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 purchasing an additional 8,810 shares during the period. Intech Investment Management LLC purchased a new stake in 89bio during the 3rd quarter valued at $160,000. Quest Partners LLC lifted its holdings in shares of 89bio by 172.1% during the 3rd quarter. Quest Partners LLC now owns 22,074 shares of the company’s stock valued at $163,000 after buying an additional 13,961 shares during the period. Finally, Algert Global LLC boosted its stake in shares of 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.

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.