Westfield Capital Management Co. LP Lowers Position in 89BIO $ETNB

Westfield Capital Management Co. LP trimmed its stake in shares of 89BIO (NASDAQ:ETNB) by 13.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,370,817 shares of the company’s stock after selling 523,924 shares during the period. Westfield Capital Management Co. LP’s holdings in 89BIO were worth $33,101,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CWM LLC lifted its stake in 89BIO by 9,265.1% in the 1st quarter. CWM LLC now owns 5,900 shares of the company’s stock worth $43,000 after purchasing an additional 5,837 shares in the last quarter. KBC Group NV bought a new stake in shares of 89BIO in the second quarter worth about $55,000. AlphaQuest LLC lifted its position in shares of 89BIO by 213.8% in the second quarter. AlphaQuest LLC now owns 6,614 shares of the company’s stock worth $65,000 after buying an additional 4,506 shares in the last quarter. Ieq Capital LLC bought a new position in 89BIO during the first quarter valued at approximately $89,000. Finally, E Fund Management Co. Ltd. purchased a new position in 89BIO during the 1st quarter valued at approximately $93,000.

89BIO Price Performance

Shares of ETNB opened at $14.84 on Friday. The company has a quick ratio of 15.19, a current ratio of 15.19 and a debt-to-equity ratio of 0.07. The business has a fifty day moving average of $14.27 and a 200 day moving average of $11.13. The company has a market cap of $2.20 billion, a PE ratio of -4.11 and a beta of 1.27. 89BIO has a 52-week low of $4.16 and a 52-week high of $15.06.

Analysts Set New Price Targets

ETNB has been the topic of a number of research reports. Wall Street Zen downgraded 89BIO to a “strong sell” rating in a research note on Saturday, November 1st. Raymond James Financial lowered shares of 89BIO from a “strong-buy” rating to a “market perform” rating in a report on Friday, September 19th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of 89BIO in a research note on Friday, October 31st. HC Wainwright lowered shares of 89BIO from a “buy” rating to a “neutral” rating and set a $14.50 price objective for the company. in a research report on Friday, September 19th. Finally, Wolfe Research cut shares of 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 given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, 89BIO presently has an average rating of “Hold” and an average price target 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.