89bio, Inc. (NASDAQ:ETNB) Shares Purchased by Comerica Bank

Comerica Bank boosted its holdings in shares of 89bio, Inc. (NASDAQ:ETNB) by 13.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 256,583 shares of the company’s stock after acquiring an additional 30,603 shares during the quarter. Comerica Bank owned about 0.24% of 89bio worth $2,006,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ETNB. Northern Trust Corp lifted its holdings in shares of 89bio by 7.6% in the 4th quarter. Northern Trust Corp now owns 854,787 shares of the company’s stock worth $6,684,000 after acquiring an additional 60,075 shares during the last quarter. Quarry LP acquired a new position in 89bio during the fourth quarter worth $55,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of 89bio during the fourth quarter worth $477,000. Price T Rowe Associates Inc. MD grew its stake in shares of 89bio by 11.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,292 shares of the company’s stock valued at $370,000 after buying an additional 4,976 shares in the last quarter. Finally, Silverarc Capital Management LLC raised its holdings in shares of 89bio by 4.6% in the 4th quarter. Silverarc Capital Management LLC now owns 96,511 shares of the company’s stock valued at $755,000 after buying an additional 4,213 shares during the period.

Insider Activity

In other 89bio news, insider Quoc Le-Nguyen sold 15,329 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $5.95, for a total value of $91,207.55. Following the completion of the sale, the insider now owns 328,323 shares in the company, valued at approximately $1,953,521.85. The trade was a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on ETNB shares. HC Wainwright restated a “buy” rating and set a $21.00 target price (down from $29.00) on shares of 89bio in a report on Friday, February 28th. Citigroup began coverage on shares of 89bio in a report on Thursday, March 13th. They issued a “buy” rating and a $25.00 price objective for the company. UBS Group increased their target price on shares of 89bio from $25.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Weiss Ratings restated a “sell (d-)” rating on shares of 89bio in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group began coverage on 89bio in a research note on Friday, March 14th. They issued a “neutral” rating and a $11.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $27.25.

89bio Trading Down 1.2 %

NASDAQ:ETNB opened at $7.70 on Friday. 89bio, Inc. has a 1 year low of $4.16 and a 1 year high of $11.84. The stock has a market cap of $1.12 billion, a P/E ratio of -2.65 and a beta of 1.23. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. The stock has a 50-day simple moving average of $7.26 and a 200-day simple moving average of $8.16.

89bio (NASDAQ:ETNB) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.01. During the same quarter in the previous year, the business earned ($0.54) earnings per share. As a group, analysts anticipate that 89bio, Inc. will post -3.19 earnings per share for the current fiscal year.

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.