Charles Mcwherter Purchases 10,000 Shares of 89bio, Inc. (NASDAQ:ETNB) Stock

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

89bio Price Performance

Shares of 89bio stock opened at $8.07 on Monday. 89bio, Inc. has a fifty-two week low of $7.00 and a fifty-two week high of $16.63. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.66 and a quick ratio of 11.66. The business has a 50-day moving average price of $8.36 and a 200 day moving average price of $8.37.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. HC Wainwright reissued a “buy” rating and issued a $29.00 target price on shares of 89bio in a research note on Monday, November 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $29.00 price objective on shares of 89bio in a report on Friday, September 20th. Finally, Raymond James reduced their price target on 89bio from $53.00 to $49.00 and set a “strong-buy” rating for the company in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, 89bio currently has a consensus rating of “Moderate Buy” and an average target price of $30.33.

Hedge Funds Weigh In On 89bio

Large investors have recently added to or reduced their stakes in the company. Quest Partners LLC grew its holdings in shares of 89bio by 226.2% during the second quarter. Quest Partners LLC now owns 8,113 shares of the company’s stock valued at $65,000 after purchasing an additional 5,626 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in 89bio in the second quarter valued at $66,000. China Universal Asset Management Co. Ltd. grew its position in shares of 89bio by 76.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 20,370 shares of the company’s stock worth $151,000 after acquiring an additional 8,810 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of 89bio in the 3rd quarter worth about $160,000. Finally, SG Americas Securities LLC bought a new stake in 89bio in the 2nd quarter valued at about $203,000.

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.