Squarepoint Ops LLC Purchases Shares of 40,862 89bio, Inc. (NASDAQ:ETNB)

Squarepoint Ops LLC purchased a new stake in 89bio, Inc. (NASDAQ:ETNB) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 40,862 shares of the company’s stock, valued at approximately $327,000.

Several other large investors have also recently bought and sold shares of ETNB. Janus Henderson Group PLC grew its position in shares of 89bio by 41.4% during the 1st quarter. Janus Henderson Group PLC now owns 12,603,382 shares of the company’s stock worth $146,646,000 after purchasing an additional 3,688,241 shares in the last quarter. RA Capital Management L.P. grew its position in shares of 89bio by 11.8% during the 1st quarter. RA Capital Management L.P. now owns 12,766,948 shares of the company’s stock worth $148,607,000 after purchasing an additional 1,350,000 shares in the last quarter. Candriam S.C.A. grew its position in shares of 89bio by 173.6% during the 2nd quarter. Candriam S.C.A. now owns 848,079 shares of the company’s stock worth $6,793,000 after purchasing an additional 538,079 shares in the last quarter. Vanguard Group Inc. grew its position in shares of 89bio by 9.6% during the 1st quarter. Vanguard Group Inc. now owns 4,722,971 shares of the company’s stock worth $54,975,000 after purchasing an additional 415,386 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its position in shares of 89bio by 22.9% during the 1st quarter. Westfield Capital Management Co. LP now owns 2,164,147 shares of the company’s stock worth $25,191,000 after purchasing an additional 402,999 shares in the last quarter.

89bio Price Performance

ETNB stock opened at $7.79 on Friday. The company has a fifty day moving average price of $8.14 and a 200-day moving average price of $8.65. The company has a market capitalization of $766.38 million, a P/E ratio of -3.95 and a beta of 1.09. 89bio, Inc. has a 52-week low of $6.57 and a 52-week high of $16.63. The company has a debt-to-equity ratio of 0.04, a quick ratio of 13.92 and a current ratio of 13.92.

89bio (NASDAQ:ETNB) last announced its earnings results on Monday, August 5th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.08. During the same quarter in the prior year, the company posted ($0.52) EPS. As a group, equities analysts expect that 89bio, Inc. will post -2.32 EPS for the current year.

Analyst Ratings Changes

ETNB has been the topic of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $29.00 price target on shares of 89bio in a research report on Friday, September 20th. HC Wainwright reiterated a “buy” rating and set a $29.00 price target on shares of 89bio in a research report on Tuesday, August 6th. Raymond James increased their price target on shares of 89bio from $50.00 to $53.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada reduced their price target on shares of 89bio from $13.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, 89bio has an average rating of “Moderate Buy” and a consensus target price of $30.14.

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.