89bio, Inc. (NASDAQ:ETNB) Shares Sold by Bellevue Group AG

Bellevue Group AG lowered its stake in 89bio, Inc. (NASDAQ:ETNB) by 32.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,700 shares of the company’s stock after selling 6,500 shares during the quarter. Bellevue Group AG’s holdings in 89bio were worth $159,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Wetzel Investment Advisors Inc. purchased a new position in shares of 89bio during the 4th quarter worth approximately $34,000. AJOVista LLC purchased a new position in shares of 89bio during the fourth quarter worth $42,000. Ameritas Investment Partners Inc. grew its stake in shares of 89bio by 28.4% in the first quarter. Ameritas Investment Partners Inc. now owns 7,886 shares of the company’s stock valued at $92,000 after buying an additional 1,744 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of 89bio by 349.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,747 shares of the company’s stock valued at $98,000 after buying an additional 6,802 shares during the period. Finally, Quest Partners LLC acquired a new position in 89bio during the 4th quarter worth about $117,000.

89bio Stock Performance

Shares of ETNB stock traded down $0.01 during mid-day trading on Monday, hitting $9.23. 222,933 shares of the stock were exchanged, compared to its average volume of 1,118,507. 89bio, Inc. has a 12-month low of $6.57 and a 12-month high of $18.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.03 and a current ratio of 15.03. The stock’s fifty day simple moving average is $8.37 and its two-hundred day simple moving average is $9.68.

89bio (NASDAQ:ETNB) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.08). During the same quarter in the prior year, the firm posted ($0.54) earnings per share. On average, research analysts forecast that 89bio, Inc. will post -2.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Evercore ISI dropped their target price on 89bio from $37.00 to $33.00 and set an “outperform” rating for the company in a research report on Wednesday, May 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $29.00 price objective on shares of 89bio in a report on Monday, July 1st. HC Wainwright reiterated a “buy” rating and set a $29.00 target price on shares of 89bio in a report on Tuesday, June 11th. Finally, Bank of America reaffirmed a “buy” rating and set a $30.00 price objective on shares of 89bio in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

89bio 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.