SG Americas Securities LLC Has $284,000 Stock Position in 89bio, Inc. (NASDAQ:ETNB)

SG Americas Securities LLC lifted its position in shares of 89bio, Inc. (NASDAQ:ETNB) by 18.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,325 shares of the company’s stock after acquiring an additional 5,612 shares during the quarter. SG Americas Securities LLC’s holdings in 89bio were worth $284,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in 89bio by 77.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 99,467 shares of the company’s stock worth $736,000 after purchasing an additional 43,384 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of 89bio during the 4th quarter worth approximately $1,897,000. Barclays PLC raised its stake in shares of 89bio by 228.9% during the third quarter. Barclays PLC now owns 214,768 shares of the company’s stock worth $1,590,000 after buying an additional 149,479 shares during the last quarter. Geode Capital Management LLC lifted its holdings in 89bio by 8.4% in the third quarter. Geode Capital Management LLC now owns 2,074,970 shares of the company’s stock valued at $15,358,000 after buying an additional 160,356 shares during the period. Finally, FMR LLC boosted its stake in 89bio by 2,153.2% in the third quarter. FMR LLC now owns 73,386 shares of the company’s stock valued at $543,000 after acquiring an additional 70,129 shares during the last quarter.

89bio Trading Up 8.5 %

NASDAQ:ETNB opened at $11.66 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.66 and a quick ratio of 11.66. The business’s 50-day simple moving average is $7.89 and its 200-day simple moving average is $8.22. 89bio, Inc. has a fifty-two week low of $5.99 and a fifty-two week high of $16.63. The stock has a market capitalization of $1.24 billion, a PE ratio of -4.01 and a beta of 1.17.

Analyst Upgrades and Downgrades

Several analysts have commented on ETNB shares. UBS Group upped their target price on shares of 89bio from $25.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $29.00 price objective on shares of 89bio in a report on Thursday, January 2nd. Raymond James upgraded 89bio to a “strong-buy” rating in a report on Thursday, December 12th. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 price target on shares of 89bio in a research note on Tuesday, January 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of 89bio in a research note on Saturday, February 1st. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, 89bio presently has an average rating of “Moderate Buy” and an average target price of $31.43.

Insiders Place Their Bets

In related news, CEO Rohan Palekar acquired 10,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of $8.35 per share, with a total value of $83,500.00. Following the completion of the transaction, the chief executive officer now directly owns 466,236 shares of the company’s stock, valued at approximately $3,893,070.60. The trade was a 2.19 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Quoc Le-Nguyen sold 10,963 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $6.49, for a total transaction of $71,149.87. Following the sale, the insider now owns 271,833 shares in the company, valued at approximately $1,764,196.17. The trade was a 3.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have purchased 5,744,285 shares of company stock worth $50,235,694. Company insiders own 2.80% of the company’s stock.

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.