SG Americas Securities LLC Buys 5,421 Shares of 89bio, Inc. (NASDAQ:ETNB)

SG Americas Securities LLC lifted its stake in shares of 89bio, Inc. (NASDAQ:ETNB) by 21.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,713 shares of the company’s stock after purchasing an additional 5,421 shares during the period. SG Americas Securities LLC’s holdings in 89bio were worth $227,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Northwestern Mutual Wealth Management Co. bought a new position in 89bio in the 2nd quarter worth approximately $66,000. Algert Global LLC raised its position in shares of 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 acquiring an additional 7,203 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of 89bio by 12.8% during the second quarter. The Manufacturers Life Insurance Company now owns 31,355 shares of the company’s stock valued at $251,000 after acquiring an additional 3,557 shares during the period. Squarepoint Ops LLC bought a new position in 89bio in the second quarter valued at about $327,000. Finally, Integral Health Asset Management LLC boosted its holdings in 89bio by 50.0% in the second quarter. Integral Health Asset Management LLC now owns 450,000 shares of the company’s stock valued at $3,604,000 after acquiring an additional 150,000 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have issued reports on ETNB. HC Wainwright restated a “buy” rating and set a $29.00 target price on shares of 89bio in a research report on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $29.00 price objective on shares of 89bio in a research note on Friday, September 20th. Raymond James upped their target price on shares of 89bio from $50.00 to $53.00 and gave the company a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada cut their price target on 89bio from $13.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 6th. 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 stock. According to data from MarketBeat, 89bio presently has an average rating of “Moderate Buy” and an average price target of $31.00.

89bio Stock Down 2.6 %

Shares of NASDAQ:ETNB opened at $8.13 on Tuesday. The company has a 50 day moving average price of $8.17 and a two-hundred day moving average price of $8.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 13.92 and a current ratio of 13.92. The company has a market capitalization of $799.86 million, a PE ratio of -4.04 and a beta of 1.09. 89bio, Inc. has a 52 week low of $6.57 and a 52 week high of $16.63.

89bio (NASDAQ:ETNB) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.08. During the same quarter in the prior year, the firm posted ($0.52) earnings per share. Analysts forecast that 89bio, Inc. will post -2.32 earnings per share for the current year.

89bio 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.