E Fund Management Co. Ltd. Has $272,000 Stock Position in 89bio, Inc. (NASDAQ:ETNB)

E Fund Management Co. Ltd. boosted its stake in shares of 89bio, Inc. (NASDAQ:ETNB) by 24.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,363 shares of the company’s stock after purchasing an additional 4,742 shares during the period. E Fund Management Co. Ltd.’s holdings in 89bio were worth $272,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. New York State Common Retirement Fund raised its holdings in 89bio by 4.8% in the 4th quarter. New York State Common Retirement Fund now owns 26,041 shares of the company’s stock valued at $291,000 after acquiring an additional 1,190 shares in the last quarter. Alps Advisors Inc. grew its holdings in shares of 89bio by 3.9% during the 3rd quarter. Alps Advisors Inc. now owns 55,671 shares of the company’s stock worth $860,000 after purchasing an additional 2,109 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its holdings in shares of 89bio by 18.2% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 15,037 shares of the company’s stock worth $232,000 after purchasing an additional 2,318 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in shares of 89bio during the 4th quarter worth $34,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 89bio by 7.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,644 shares of the company’s stock worth $510,000 after purchasing an additional 3,278 shares in the last quarter.

Analyst Ratings Changes

Several research firms recently weighed in on ETNB. HC Wainwright reaffirmed a “buy” rating and issued a $31.00 price objective on shares of 89bio in a research note on Wednesday, March 27th. Royal Bank of Canada dropped their target price on 89bio from $15.00 to $14.00 and set a “sector perform” rating for the company in a research report on Friday, March 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $29.00 target price on shares of 89bio in a research report on Friday, April 5th. Evercore ISI increased their target price on 89bio from $29.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Finally, Oppenheimer reiterated a “market perform” rating on shares of 89bio in a research report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

89bio Trading Up 0.9 %

ETNB stock traded up $0.08 during mid-day trading on Thursday, reaching $9.11. The company’s stock had a trading volume of 590,569 shares, compared to its average volume of 1,161,891. The company has a market cap of $867.45 million, a price-to-earnings ratio of -4.53 and a beta of 1.15. The business’s 50 day moving average price is $10.71 and its 200 day moving average price is $9.96. The company has a current ratio of 20.04, a quick ratio of 20.04 and a debt-to-equity ratio of 0.05. 89bio, Inc. has a 12 month low of $6.57 and a 12 month high of $22.93.

89bio (NASDAQ:ETNB) last issued its earnings results on Thursday, February 29th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). On average, equities research analysts predict that 89bio, Inc. will post -2.2 EPS for the current year.

Insiders Place Their Bets

In other 89bio news, CEO Rohan Palekar sold 4,477 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $10.76, for a total value of $48,172.52. Following the completion of the sale, the chief executive officer now owns 486,889 shares of the company’s stock, valued at $5,238,925.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 89bio news, CEO Rohan Palekar sold 4,477 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $10.76, for a total value of $48,172.52. Following the completion of the sale, the chief executive officer now owns 486,889 shares of the company’s stock, valued at $5,238,925.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ra Capital Management, L.P. acquired 1,350,000 shares of 89bio stock in a transaction on Monday, March 4th. The stock was purchased at an average cost of $15.35 per share, with a total value of $20,722,500.00. Following the purchase, the director now directly owns 12,431,584 shares of the company’s stock, valued at approximately $190,824,814.40. The disclosure for this purchase can be found here. 2.80% of the stock is currently owned by corporate insiders.

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.