89bio, Inc. (NASDAQ:ETNB) Director Acquires $32,750.00 in Stock

89bio, Inc. (NASDAQ:ETNB) Director Charles Mcwherter acquired 5,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was acquired at an average cost of $6.55 per share, with a total value of $32,750.00. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $98,250. This trade represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Charles Mcwherter also recently made the following trade(s):

• On Thursday, December 5th, Charles Mcwherter purchased 10,000 shares of 89bio stock. The stock was acquired at an average cost of $8.00 per share, for a total transaction of $80,000.00.

89bio Stock Performance

Shares of ETNB stock opened at $6.92 on Friday. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09. The company has a market cap of $734.42 million, a PE ratio of -2.38 and a beta of 1.14. The company’s fifty day simple moving average is $7.80 and its 200-day simple moving average is $8.20. 89bio, Inc. has a 52 week low of $5.99 and a 52 week high of $16.63.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC boosted its position in shares of 89bio by 228.9% in 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 period. Assenagon Asset Management S.A. purchased a new position in 89bio in the 4th quarter worth approximately $1,897,000. Geode Capital Management LLC grew its position 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 acquiring an additional 160,356 shares in the last quarter. FMR LLC grew its position 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 in the last quarter. Finally, HighVista Strategies LLC purchased a new stake in shares of 89bio during the third quarter valued at approximately $494,000.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Raymond James upgraded shares of 89bio to a “strong-buy” rating in a report on Thursday, December 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $29.00 price target on shares of 89bio in a research note on Thursday, January 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of 89bio in a report on Saturday, January 18th. Finally, HC Wainwright restated a “buy” rating and set a $29.00 price objective on shares of 89bio in a report on Tuesday. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.33.

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.