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

89bio, Inc. (NASDAQ:ETNB) Director Charles Mcwherter purchased 5,000 shares of 89bio stock in a transaction dated Tuesday, January 21st. The shares were acquired 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 owns 15,000 shares of the company’s stock, valued at approximately $98,250. This represents a 50.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

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

89bio Stock Performance

NASDAQ:ETNB traded up $0.17 during midday trading on Thursday, hitting $6.92. The company’s stock had a trading volume of 1,534,223 shares, compared to its average volume of 1,030,159. 89bio, Inc. has a fifty-two week low of $5.99 and a fifty-two week high of $16.63. 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 firm has a market cap of $734.42 million, a P/E ratio of -2.38 and a beta of 1.14. The firm’s 50 day moving average is $7.80 and its 200-day moving average is $8.20.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ETNB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 89bio by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,998 shares of the company’s stock valued at $1,043,000 after purchasing an additional 1,624 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of 89bio by 12.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,355 shares of the company’s stock valued at $251,000 after buying an additional 3,557 shares during the period. SG Americas Securities LLC boosted its stake in shares of 89bio by 21.4% in the third quarter. SG Americas Securities LLC now owns 30,713 shares of the company’s stock worth $227,000 after buying an additional 5,421 shares during the last quarter. Algert Global LLC grew its holdings in 89bio by 30.8% during the second quarter. Algert Global LLC now owns 30,587 shares of the company’s stock worth $245,000 after acquiring an additional 7,203 shares during the period. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in 89bio during the second quarter valued at approximately $66,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of 89bio in a research note on Saturday, January 18th. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 price objective on shares of 89bio in a research report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $29.00 target price on shares of 89bio in a research report on Thursday, January 2nd. Finally, Raymond James raised shares of 89bio to a “strong-buy” rating in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, 89bio has a consensus rating of “Moderate Buy” and a consensus 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.