89BIO $ETNB Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in 89BIO (NASDAQ:ETNB) by 7.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,111,299 shares of the company’s stock after purchasing an additional 213,325 shares during the period. Geode Capital Management LLC’s holdings in 89BIO were worth $30,558,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. CWM LLC grew its holdings in 89BIO by 9,265.1% in the first quarter. CWM LLC now owns 5,900 shares of the company’s stock valued at $43,000 after purchasing an additional 5,837 shares during the period. Victory Capital Management Inc. grew its stake in 89BIO by 21.1% in the 1st quarter. Victory Capital Management Inc. now owns 16,913 shares of the company’s stock valued at $123,000 after acquiring an additional 2,944 shares during the period. Allianz Asset Management GmbH purchased a new stake in 89BIO in the 1st quarter worth $93,000. KLP Kapitalforvaltning AS increased its holdings in 89BIO by 130.1% in the 1st quarter. KLP Kapitalforvaltning AS now owns 33,600 shares of the company’s stock worth $244,000 after acquiring an additional 19,000 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in 89BIO by 153.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,295 shares of the company’s stock worth $148,000 after acquiring an additional 12,300 shares during the period.

89BIO Price Performance

Shares of NASDAQ ETNB opened at $14.84 on Friday. The stock has a market cap of $2.20 billion, a PE ratio of -4.11 and a beta of 1.27. The company has a current ratio of 15.19, a quick ratio of 15.19 and a debt-to-equity ratio of 0.07. 89BIO has a 12-month low of $4.16 and a 12-month high of $15.06. The company has a 50-day moving average of $14.81 and a 200 day moving average of $11.37.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ETNB. Weiss Ratings reiterated a “sell (d-)” rating on shares of 89BIO in a research report on Wednesday, October 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of 89BIO in a report on Friday, October 31st. Zacks Research lowered 89BIO from a “hold” rating to a “strong sell” rating in a research note on Monday, October 20th. Wall Street Zen cut 89BIO to a “strong sell” rating in a report on Saturday, November 1st. Finally, Wolfe Research lowered 89BIO from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 19th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, 89BIO currently has a consensus rating of “Hold” and a consensus target price of $22.50.

89BIO Company 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.