89bio, Inc. (NASDAQ:ETNB) Shares Bought by Janus Henderson Group PLC

Janus Henderson Group PLC raised its holdings in 89bio, Inc. (NASDAQ:ETNB) by 14.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,158,218 shares of the company’s stock after purchasing an additional 1,882,108 shares during the period. Janus Henderson Group PLC owned about 0.14% of 89bio worth $112,140,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Quest Partners LLC raised its position in shares of 89bio by 226.2% during the 2nd quarter. Quest Partners LLC now owns 8,113 shares of the company’s stock valued at $65,000 after acquiring an additional 5,626 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of 89bio during the 2nd quarter valued at approximately $66,000. China Universal Asset Management Co. Ltd. raised its position in shares of 89bio by 76.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,370 shares of the company’s stock valued at $151,000 after acquiring an additional 8,810 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of 89bio during the 3rd quarter valued at approximately $160,000. Finally, SG Americas Securities LLC acquired a new stake in shares of 89bio during the 2nd quarter valued at approximately $203,000.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ETNB. Cantor Fitzgerald reissued an “overweight” rating and set a $29.00 price target on shares of 89bio in a research report on Friday, September 20th. HC Wainwright restated a “buy” rating and set a $29.00 price objective on shares of 89bio in a research note on Monday, November 11th. Finally, Raymond James lowered their price objective on 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.33.

89bio Trading Down 4.9 %

Shares of ETNB stock opened at $8.30 on Thursday. 89bio, Inc. has a fifty-two week low of $7.00 and a fifty-two week high of $16.63. The stock has a market capitalization of $880.88 million, a P/E ratio of -2.85 and a beta of 1.12. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09. The stock has a 50-day simple moving average of $8.33 and a 200 day simple moving average of $8.39.

Insider Activity

In related news, CEO Rohan Palekar bought 10,000 shares of 89bio stock in a transaction dated Friday, November 22nd. The stock was acquired at an average cost of $8.35 per share, with a total value of $83,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 466,236 shares in the company, valued at approximately $3,893,070.60. This trade represents a 2.19 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is currently owned by company insiders.

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.