Price T Rowe Associates Inc. MD Buys New Holdings in 89bio, Inc. (NASDAQ:ETNB)

Price T Rowe Associates Inc. MD acquired a new stake in 89bio, Inc. (NASDAQ:ETNB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,941 shares of the company’s stock, valued at approximately $364,000. Price T Rowe Associates Inc. MD owned approximately 0.08% of 89bio at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Citigroup Inc. grew its position in 89bio by 403.5% during the fourth quarter. Citigroup Inc. now owns 1,571 shares of the company’s stock valued at $38,000 after buying an additional 1,259 shares during the period. Van ECK Associates Corp increased its stake in shares of 89bio by 86.8% in the 4th quarter. Van ECK Associates Corp now owns 3,266 shares of the company’s stock worth $80,000 after acquiring an additional 1,518 shares during the last quarter. American International Group Inc. boosted its holdings in 89bio by 24.3% in the 4th quarter. American International Group Inc. now owns 4,839 shares of the company’s stock valued at $118,000 after purchasing an additional 945 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in 89bio by 299.2% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 6,280 shares of the company’s stock valued at $161,000 after buying an additional 4,707 shares during the period. Finally, Bourgeon Capital Management LLC lifted its holdings in shares of 89bio by 75.6% in the 4th quarter. Bourgeon Capital Management LLC now owns 7,900 shares of the company’s stock worth $193,000 after acquiring an additional 3,400 shares during the last quarter. 80.63% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have commented on the stock. SVB Leerink increased their price target on shares of 89bio from $56.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, March 29th. Chardan Capital upped their target price on shares of 89bio from $92.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, March 25th. They noted that the move was a valuation call. Oppenheimer reiterated a “buy” rating and issued a $60.00 price objective on shares of 89bio in a research report on Thursday, March 18th. Finally, Zacks Investment Research upgraded 89bio from a “sell” rating to a “hold” rating in a research report on Tuesday, March 9th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $58.13.

In related news, insider Ram Waisbourd sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, April 16th. The shares were sold at an average price of $24.22, for a total transaction of $169,540.00. Following the completion of the transaction, the insider now directly owns 7,000 shares in the company, valued at approximately $169,540. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ryan Martins sold 10,000 shares of the company’s stock in a transaction on Monday, April 19th. The stock was sold at an average price of $25.00, for a total transaction of $250,000.00. Following the transaction, the chief financial officer now owns 17,500 shares of the company’s stock, valued at $437,500. The disclosure for this sale can be found here. Insiders have sold a total of 24,000 shares of company stock worth $588,940 in the last ninety days. 18.10% of the stock is currently owned by company insiders.

Shares of NASDAQ:ETNB opened at $25.81 on Wednesday. 89bio, Inc. has a 12-month low of $18.01 and a 12-month high of $42.36. The firm has a fifty day moving average of $24.32 and a two-hundred day moving average of $24.40. The firm has a market capitalization of $517.10 million and a P/E ratio of -5.11.

89bio (NASDAQ:ETNB) last issued its quarterly earnings results on Tuesday, March 23rd. The company reported ($0.63) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.87) by $0.24. Sell-side analysts expect that 89bio, Inc. will post -3.08 earnings per share for the current year.

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 BIO89-100, a glycoPEGylated analog of fibroblast growth factor 21 for the treatment of nonalcoholic steatohepatitis.

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Institutional Ownership by Quarter for 89bio (NASDAQ:ETNB)

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