Harbor Capital Advisors Inc. Has $1.97 Million Holdings in 89bio, Inc. (NASDAQ:ETNB)

Harbor Capital Advisors Inc. increased its position in shares of 89bio, Inc. (NASDAQ:ETNB) by 10.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 251,898 shares of the company’s stock after purchasing an additional 23,968 shares during the period. Harbor Capital Advisors Inc. owned about 0.24% of 89bio worth $1,970,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in 89bio by 77.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,467 shares of the company’s stock valued at $736,000 after buying an additional 43,384 shares during the period. Exome Asset Management LLC bought a new stake in 89bio in the third quarter valued at about $2,224,000. Barclays PLC increased its stake in 89bio by 228.9% in the third quarter. Barclays PLC now owns 214,768 shares of the company’s stock valued at $1,590,000 after acquiring an additional 149,479 shares during the period. Geode Capital Management LLC raised its position in 89bio by 8.4% in the third quarter. Geode Capital Management LLC now owns 2,074,970 shares of the company’s stock worth $15,358,000 after purchasing an additional 160,356 shares in the last quarter. Finally, Sphera Funds Management LTD. lifted its stake in 89bio by 1.9% during the third quarter. Sphera Funds Management LTD. now owns 536,547 shares of the company’s stock worth $3,970,000 after purchasing an additional 10,000 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ETNB shares. Raymond James raised 89bio to a “strong-buy” rating in a report on Thursday, December 12th. Cantor Fitzgerald reiterated an “overweight” rating and set a $29.00 price objective on shares of 89bio in a research note on Thursday, January 2nd. Finally, HC Wainwright restated a “buy” rating and issued a $29.00 target price on shares of 89bio in a research note on Monday, November 11th. Two research analysts have rated the stock with a hold rating, four have given 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 price target of $30.33.

89bio Price Performance

Shares of ETNB stock opened at $6.51 on Friday. 89bio, Inc. has a 52 week low of $6.26 and a 52 week high of $16.63. The stock has a market capitalization of $690.88 million, a PE ratio of -2.24 and a beta of 1.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. The stock’s fifty day moving average is $8.32 and its 200-day moving average is $8.27.

Insiders Place Their Bets

In other news, CEO Rohan Palekar acquired 5,000 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were purchased at an average cost of $7.89 per share, for a total transaction of $39,450.00. Following the transaction, the chief executive officer now owns 471,236 shares of the company’s stock, valued at approximately $3,718,052.04. This represents a 1.07 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles Mcwherter bought 10,000 shares of the stock in a transaction dated Thursday, December 5th. The stock was purchased at an average cost of $8.00 per share, with a total value of $80,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $80,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 25,000 shares of company stock valued at $202,950 in the last 90 days. 2.80% of the stock is currently owned by insiders.

About 89bio

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.