Y Intercept Hong Kong Ltd Takes Position in 89BIO $ETNB

Y Intercept Hong Kong Ltd bought a new position in shares of 89BIO (NASDAQ:ETNB) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,876 shares of the company’s stock, valued at approximately $176,000.

A number of other hedge funds have also recently added to or reduced their stakes in ETNB. CWM LLC grew its holdings in 89BIO by 9,265.1% in the 1st quarter. CWM LLC now owns 5,900 shares of the company’s stock valued at $43,000 after buying an additional 5,837 shares during the period. AlphaQuest LLC boosted 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 acquiring an additional 4,506 shares during the last quarter. Ieq Capital LLC purchased a new stake in 89BIO in the first quarter valued at approximately $89,000. Allianz Asset Management GmbH acquired a new position in 89BIO during the first quarter worth approximately $93,000. Finally, E Fund Management Co. Ltd. acquired a new position in 89BIO during the first quarter worth approximately $93,000.

89BIO Stock Performance

NASDAQ:ETNB opened at $14.84 on Monday. The firm has a 50-day moving average of $13.19 and a two-hundred day moving average of $10.72. The company has a debt-to-equity ratio of 0.07, a current ratio of 15.19 and a quick ratio of 15.19. The stock has a market cap of $2.20 billion, a P/E ratio of -4.11 and a beta of 1.27. 89BIO has a 1-year low of $4.16 and a 1-year high of $15.06.

89BIO (NASDAQ:ETNB) last announced its earnings results on Thursday, August 7th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.22). During the same period last year, the firm earned ($0.48) earnings per share. On average, research analysts expect that 89BIO will post -3.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on ETNB. HC Wainwright lowered shares of 89BIO from a “buy” rating to a “neutral” rating and set a $14.50 price target on the stock. in a report on Friday, September 19th. Bank of America cut their target price on 89BIO from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Monday, August 25th. Royal Bank Of Canada lowered their price target on 89BIO from $12.00 to $11.00 and set a “sector perform” rating for the company in a research report on Friday, August 8th. Zacks Research lowered 89BIO from a “hold” rating to a “strong sell” rating in a research note on Monday, October 20th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of 89BIO in a report on Friday, October 31st. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.