89bio, Inc. (NASDAQ:ETNB) Director Buys $32,750.00 in Stock

89bio, Inc. (NASDAQ:ETNB) Director Charles Mcwherter purchased 5,000 shares of 89bio stock in a transaction on Tuesday, January 21st. The shares were acquired at an average cost of $6.55 per share, with a total value of $32,750.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $98,250. The trade was a 50.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Charles Mcwherter also recently made the following trade(s):

• On Thursday, December 5th, Charles Mcwherter acquired 10,000 shares of 89bio stock. The stock was acquired at an average price of $8.00 per share, for a total transaction of $80,000.00.

89bio Price Performance

Shares of 89bio stock opened at $7.13 on Friday. The firm has a market cap of $756.71 million, a PE ratio of -2.45 and a beta of 1.14. The business has a 50-day moving average price of $7.74 and a 200 day moving average price of $8.18. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09. 89bio, Inc. has a twelve month low of $5.99 and a twelve month high of $16.63.

Wall Street Analysts Forecast Growth

ETNB has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 89bio in a report on Saturday, January 18th. Raymond James upgraded 89bio to a “strong-buy” rating in a research note on Thursday, December 12th. HC Wainwright reiterated a “buy” rating and set a $29.00 price target on shares of 89bio in a research report on Tuesday, January 21st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $29.00 price objective on shares of 89bio in a research report on Thursday, January 2nd. 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, 89bio currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.33.

Institutional Trading of 89bio

A number of institutional investors and hedge funds have recently made changes to their positions in ETNB. Northwestern Mutual Wealth Management Co. acquired a new stake in 89bio in the 2nd quarter valued at $66,000. Kingswood Wealth Advisors LLC purchased a new position in 89bio during the fourth quarter valued at $86,000. China Universal Asset Management Co. Ltd. grew its position in shares of 89bio by 76.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,370 shares of the company’s stock valued at $151,000 after purchasing an additional 8,810 shares during the period. Intech Investment Management LLC purchased a new stake in shares of 89bio during the third quarter worth about $160,000. Finally, Quest Partners LLC raised its position in shares of 89bio by 172.1% during the 3rd quarter. Quest Partners LLC now owns 22,074 shares of the company’s stock worth $163,000 after purchasing an additional 13,961 shares during the last quarter.

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.