PNC Financial Services Group Inc. Has $205,000 Stock Holdings in 89BIO $ETNB

PNC Financial Services Group Inc. trimmed its position in shares of 89BIO (NASDAQ:ETNB) by 17.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,875 shares of the company’s stock after selling 4,543 shares during the quarter. PNC Financial Services Group Inc.’s holdings in 89BIO were worth $205,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. RA Capital Management L.P. raised its stake in 89BIO by 40.3% during the 1st quarter. RA Capital Management L.P. now owns 19,889,683 shares of the company’s stock worth $144,598,000 after buying an additional 5,714,285 shares during the period. Beck Bode LLC bought a new stake in shares of 89BIO in the first quarter worth about $13,199,000. Assenagon Asset Management S.A. increased its holdings in shares of 89BIO by 406.2% in the second quarter. Assenagon Asset Management S.A. now owns 2,171,194 shares of the company’s stock worth $21,321,000 after acquiring an additional 1,742,299 shares in the last quarter. Vanguard Group Inc. raised its position in shares of 89BIO by 25.8% during the first quarter. Vanguard Group Inc. now owns 7,163,609 shares of the company’s stock worth $52,079,000 after purchasing an additional 1,471,278 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of 89BIO during the first quarter worth about $7,531,000.

89BIO Stock Performance

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

Analyst Ratings Changes

Several brokerages recently issued reports on ETNB. Zacks Research lowered 89BIO from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. Bank of America reduced their price target on shares of 89BIO from $30.00 to $29.00 and set a “buy” rating for the company in a report on Monday, August 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of 89BIO in a research report on Wednesday, October 8th. HC Wainwright lowered shares of 89BIO from a “buy” rating to a “neutral” rating and set a $14.50 price objective on the stock. in a report on Friday, September 19th. Finally, Royal Bank Of Canada reduced their target price on shares of 89BIO from $12.00 to $11.00 and set a “sector perform” rating for the company in a research note on Friday, August 8th. Four equities research 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.com, the company has a consensus rating of “Hold” and a consensus price target of $22.50.

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.