Charles Mcwherter Buys 5,000 Shares of 89bio, Inc. (NASDAQ:ETNB) Stock

89bio, Inc. (NASDAQ:ETNB) Director Charles Mcwherter purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was bought at an average cost of $6.55 per share, for a total transaction of $32,750.00. Following the completion of the acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

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

89bio Stock Up 3.0 %

ETNB stock opened at $7.13 on Friday. 89bio, Inc. has a twelve month low of $5.99 and a twelve month high of $16.63. The firm has a market capitalization of $756.71 million, a PE ratio of -2.45 and a beta of 1.14. 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 $7.76 and a two-hundred day simple moving average of $8.19.

Hedge Funds Weigh In On 89bio

Several hedge funds have recently bought and sold shares of ETNB. Janus Henderson Group PLC boosted its holdings in 89bio by 14.2% in the 3rd quarter. Janus Henderson Group PLC now owns 15,158,218 shares of the company’s stock valued at $112,140,000 after purchasing an additional 1,882,108 shares during the period. Westfield Capital Management Co. LP grew its position in 89bio by 29.6% during the third quarter. Westfield Capital Management Co. LP now owns 3,006,038 shares of the company’s stock worth $22,245,000 after buying an additional 686,673 shares in the last quarter. Geode Capital Management LLC increased its stake in 89bio by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,074,970 shares of the company’s stock worth $15,358,000 after acquiring an additional 160,356 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in shares of 89bio in the 3rd quarter valued at about $5,631,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of 89bio by 8.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 721,050 shares of the company’s stock valued at $5,336,000 after acquiring an additional 53,932 shares during the last quarter.

Analysts Set New Price Targets

ETNB has been the subject of several research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $29.00 price objective on shares of 89bio in a report on Thursday, January 2nd. HC Wainwright reissued a “buy” rating and issued a $29.00 price objective on shares of 89bio in a report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of 89bio in a research note on Saturday, January 18th. Finally, Raymond James upgraded shares of 89bio to a “strong-buy” rating in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $30.33.

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.