89bio, Inc. (NASDAQ:ETNB) Director Charles Mcwherter Buys 10,000 Shares

89bio, Inc. (NASDAQ:ETNB) Director Charles Mcwherter bought 10,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were purchased at an average price of $8.00 per share, for a total transaction of $80,000.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $80,000. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

89bio Trading Up 2.3 %

ETNB stock opened at $8.07 on Monday. 89bio, Inc. has a one year low of $7.00 and a one year high of $16.63. The company has a fifty day moving average of $8.36 and a 200-day moving average of $8.37. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66.

Institutional Trading of 89bio

Several hedge funds have recently modified their holdings of ETNB. Candriam S.C.A. grew its position in shares of 89bio by 173.6% in the second quarter. Candriam S.C.A. now owns 848,079 shares of the company’s stock valued at $6,793,000 after purchasing an additional 538,079 shares during the last quarter. HighVista Strategies LLC purchased a new position in 89bio in the 3rd quarter valued at about $494,000. Harbor Capital Advisors Inc. grew its holdings in shares of 89bio by 165.3% during the third quarter. Harbor Capital Advisors Inc. now owns 227,930 shares of the company’s stock worth $1,687,000 after buying an additional 142,032 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of 89bio in the second quarter valued at approximately $2,238,000. Finally, Price T Rowe Associates Inc. MD grew its stake in 89bio by 28.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,221 shares of the company’s stock worth $364,000 after acquiring an additional 7,000 shares during the period.

Analyst Ratings Changes

A number of brokerages have weighed in on ETNB. HC Wainwright reiterated a “buy” rating and issued a $29.00 price objective on shares of 89bio in a research note on Monday, November 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $29.00 price objective on shares of 89bio in a research report on Friday, September 20th. Finally, Raymond James decreased their target price on shares of 89bio from $53.00 to $49.00 and set a “strong-buy” rating for the company in a research note on Friday, November 8th. 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.33.

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.