Harbor Capital Advisors Inc. Has $1.69 Million Position in 89bio, Inc. (NASDAQ:ETNB)

Harbor Capital Advisors Inc. raised its stake in shares of 89bio, Inc. (NASDAQ:ETNB) by 165.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 227,930 shares of the company’s stock after purchasing an additional 142,032 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in 89bio were worth $1,687,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Candriam S.C.A. lifted its position in shares of 89bio by 173.6% during the 2nd quarter. Candriam S.C.A. now owns 848,079 shares of the company’s stock worth $6,793,000 after purchasing an additional 538,079 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in 89bio by 22.9% in the 1st quarter. Westfield Capital Management Co. LP now owns 2,164,147 shares of the company’s stock valued at $25,191,000 after buying an additional 402,999 shares during the last quarter. Vanguard Group Inc. increased its position in 89bio by 9.6% in the 1st quarter. Vanguard Group Inc. now owns 4,722,971 shares of the company’s stock worth $54,975,000 after buying an additional 415,386 shares during the period. Renaissance Technologies LLC acquired a new position in shares of 89bio during the second quarter worth approximately $2,238,000. Finally, Janus Henderson Group PLC boosted its position in shares of 89bio by 41.4% in the first quarter. Janus Henderson Group PLC now owns 12,603,382 shares of the company’s stock valued at $146,646,000 after acquiring an additional 3,688,241 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ETNB shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $29.00 target price on shares of 89bio in a research report on Friday, September 20th. HC Wainwright reaffirmed a “buy” rating and set a $29.00 price objective on shares of 89bio in a research report on Tuesday, August 6th. Raymond James lifted their target price on 89bio from $50.00 to $53.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada cut their price target on 89bio from $13.00 to $12.00 and set a “sector perform” rating for the company in a report on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, 89bio has an average rating of “Moderate Buy” and a consensus price target of $31.00.

89bio Price Performance

Shares of 89bio stock opened at $9.23 on Wednesday. The firm has a market cap of $908.05 million, a P/E ratio of -4.69 and a beta of 1.07. The firm’s 50-day simple moving average is $8.12 and its 200-day simple moving average is $8.37. 89bio, Inc. has a twelve month low of $6.88 and a twelve month high of $16.63. The company has a debt-to-equity ratio of 0.04, a quick ratio of 13.92 and a current ratio of 13.92.

89bio (NASDAQ:ETNB) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.08. During the same period in the prior year, the business earned ($0.52) earnings per share. As a group, research analysts expect that 89bio, Inc. will post -2.32 EPS for the current fiscal year.

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.