Rhumbline Advisers Has $1.02 Million Stock Position in 89bio, Inc. (NASDAQ:ETNB)

Rhumbline Advisers raised its stake in 89bio, Inc. (NASDAQ:ETNB) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 129,980 shares of the company’s stock after acquiring an additional 4,125 shares during the quarter. Rhumbline Advisers owned about 0.12% of 89bio worth $1,016,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Kingswood Wealth Advisors LLC acquired a new stake in 89bio in the 4th quarter worth about $86,000. Intech Investment Management LLC bought a new position in shares of 89bio during the third quarter worth approximately $160,000. Quest Partners LLC raised its position in shares of 89bio by 172.1% in the third 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 in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of 89bio by 22.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 24,932 shares of the company’s stock valued at $195,000 after buying an additional 4,562 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of 89bio by 18.3% in the fourth quarter. SG Americas Securities LLC now owns 36,325 shares of the company’s stock valued at $284,000 after buying an additional 5,612 shares during the period.

Insider Transactions at 89bio

In related news, Director Charles Mcwherter acquired 5,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was bought at an average cost of $6.55 per share, for a total transaction of $32,750.00. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $98,250. The trade was a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ra Capital Management, L.P. bought 5,714,285 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were purchased at an average cost of $8.75 per share, with a total value of $49,999,993.75. Following the transaction, the director now directly owns 19,554,319 shares in the company, valued at approximately $171,100,291.25. This trade represents a 41.29 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

ETNB has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $21.00 price objective (down previously from $29.00) on shares of 89bio in a research note on Friday, February 28th. Wolfe Research began coverage on 89bio in a research report on Tuesday, February 4th. They issued an “outperform” rating on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $29.00 price objective on shares of 89bio in a research report on Thursday, January 2nd. UBS Group increased their price objective on shares of 89bio from $25.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of 89bio in a research report on Wednesday, February 19th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $30.29.

89bio Price Performance

ETNB stock opened at $8.31 on Friday. The stock has a market cap of $881.91 million, a price-to-earnings ratio of -2.86 and a beta of 1.17. 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 company has a 50 day simple moving average of $8.80 and a 200 day simple moving average of $8.48. 89bio, Inc. has a 1 year low of $5.99 and a 1 year high of $13.71.

89bio (NASDAQ:ETNB) last released its quarterly earnings data on Thursday, March 6th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.42). Research analysts anticipate that 89bio, Inc. will post -3.19 EPS for the current fiscal year.

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.