Integral Health Asset Management LLC Has $7.82 Million Holdings in 89bio, Inc. (NASDAQ:ETNB)

Integral Health Asset Management LLC increased its position in shares of 89bio, Inc. (NASDAQ:ETNB) by 100.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,000,000 shares of the company’s stock after buying an additional 500,000 shares during the period. Integral Health Asset Management LLC owned 0.94% of 89bio worth $7,820,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in 89bio by 77.4% during the third quarter. JPMorgan Chase & Co. now owns 99,467 shares of the company’s stock worth $736,000 after buying an additional 43,384 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in 89bio during the fourth quarter worth $1,897,000. KLP Kapitalforvaltning AS bought a new position in 89bio during the fourth quarter worth $114,000. Barclays PLC raised its stake in 89bio by 228.9% during the third quarter. Barclays PLC now owns 214,768 shares of the company’s stock worth $1,590,000 after buying an additional 149,479 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in 89bio by 17.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 26,185 shares of the company’s stock worth $205,000 after buying an additional 3,820 shares during the last quarter.

Insider Activity

In other news, insider Quoc Le-Nguyen sold 15,329 shares of 89bio stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $5.95, for a total transaction of $91,207.55. Following the completion of the transaction, the insider now directly owns 328,323 shares in the company, valued at $1,953,521.85. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

ETNB has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating and set a $21.00 target price (down previously from $29.00) on shares of 89bio in a research note on Friday, February 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 89bio in a research note on Saturday. UBS Group lifted their price target on shares of 89bio from $25.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Citigroup started coverage on shares of 89bio in a research note on Thursday, March 13th. They issued a “buy” rating and a $25.00 price target for the company. Finally, Wolfe Research started coverage on shares of 89bio in a research note on Tuesday, February 4th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $27.25.

89bio Stock Down 1.2%

Shares of NASDAQ ETNB opened at $7.70 on Monday. The stock has a market capitalization of $1.12 billion, a P/E ratio of -2.65 and a beta of 1.23. The company has a 50-day moving average price of $7.26 and a 200-day moving average price of $8.16. 89bio, Inc. has a 1 year low of $4.16 and a 1 year high of $11.84. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.66 and a quick ratio of 11.66.

89bio (NASDAQ:ETNB) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.01. During the same quarter last year, the firm earned ($0.54) EPS. On average, equities research analysts forecast that 89bio, Inc. will post -3.19 EPS for the current fiscal year.

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.