89bio, Inc. (NASDAQ:ETNB) Shares Sold by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC trimmed its holdings in 89bio, Inc. (NASDAQ:ETNB) by 74.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,210 shares of the company’s stock after selling 60,150 shares during the period. Steward Partners Investment Advisory LLC’s holdings in 89bio were worth $158,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Kingswood Wealth Advisors LLC acquired a new position in shares of 89bio in the 4th quarter valued at approximately $86,000. New York State Common Retirement Fund raised its position in shares of 89bio by 24.3% in the 4th quarter. New York State Common Retirement Fund now owns 16,367 shares of the company’s stock valued at $128,000 after purchasing an additional 3,200 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of 89bio in the 3rd quarter valued at approximately $160,000. Quest Partners LLC raised its position 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 acquiring an additional 13,961 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of 89bio by 22.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,932 shares of the company’s stock valued at $195,000 after acquiring an additional 4,562 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ETNB. HC Wainwright reissued a “buy” rating and set a $21.00 price target (down from $29.00) on shares of 89bio in a research report on Friday, February 28th. Cantor Fitzgerald reissued an “overweight” rating and set a $29.00 price target on shares of 89bio in a research report on Thursday, January 2nd. Raymond James raised 89bio to a “strong-buy” rating in a research report on Thursday, December 12th. The Goldman Sachs Group began coverage on 89bio in a research report on Friday. They set a “neutral” rating and a $11.00 price target on the stock. Finally, Wolfe Research began coverage on 89bio in a research report on Tuesday, February 4th. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $27.56.

89bio Price Performance

Shares of ETNB opened at $8.47 on Monday. The company has a market cap of $1.24 billion, a P/E ratio of -2.91 and a beta of 1.17. The stock has a fifty day moving average price of $8.80 and a 200 day moving average price of $8.44. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.66 and a quick ratio of 11.66. 89bio, Inc. has a 12 month low of $5.99 and a 12 month high of $13.71.

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

Insider Activity

In other news, 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 transaction, the insider now directly owns 271,833 shares of the company’s stock, valued at approximately $1,764,196.17. This trade represents a 3.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ra Capital Management, L.P. purchased 5,714,285 shares of the stock in a transaction dated Thursday, January 30th. The shares were acquired at an average cost of $8.75 per share, for a total transaction of $49,999,993.75. Following the completion of the acquisition, the director now directly owns 19,554,319 shares of the company’s stock, 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. Corporate insiders own 2.80% of the company’s stock.

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.