Investors Buy Large Volume of Call Options on 89bio (NASDAQ:ETNB)

89bio, Inc. (NASDAQ:ETNBGet Free Report) was the recipient of some unusual options trading on Monday. Traders acquired 2,228 call options on the company. This is an increase of 346% compared to the typical daily volume of 499 call options.

Analyst Upgrades and Downgrades

ETNB has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 89bio in a research report on Saturday, January 18th. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 price target on shares of 89bio in a research report on Tuesday, January 21st. Raymond James raised 89bio to a “strong-buy” rating in a research report on Thursday, December 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $29.00 target price on shares of 89bio in a report on Thursday, January 2nd. Two 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.33.

Check Out Our Latest Stock Analysis on 89bio

Insider Activity

In other 89bio news, insider Quoc Le-Nguyen sold 10,963 shares of 89bio stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $6.49, for a total value of $71,149.87. Following the sale, the insider now owns 271,833 shares of the company’s stock, valued at $1,764,196.17. The trade was a 3.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Charles Mcwherter acquired 10,000 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was acquired 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 represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 30,000 shares of company stock valued at $235,700 in the last ninety days. Corporate insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On 89bio

Several institutional investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 89bio by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,998 shares of the company’s stock valued at $1,043,000 after buying an additional 1,624 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in 89bio by 12.8% during the second quarter. The Manufacturers Life Insurance Company now owns 31,355 shares of the company’s stock worth $251,000 after buying an additional 3,557 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in 89bio by 22.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,932 shares of the company’s stock valued at $195,000 after buying an additional 4,562 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of 89bio by 21.4% in the 3rd quarter. SG Americas Securities LLC now owns 30,713 shares of the company’s stock worth $227,000 after acquiring an additional 5,421 shares during the last quarter. Finally, Algert Global LLC boosted its position in shares of 89bio by 30.8% during the 2nd quarter. Algert Global LLC now owns 30,587 shares of the company’s stock valued at $245,000 after acquiring an additional 7,203 shares during the last quarter.

89bio Stock Performance

Shares of ETNB stock opened at $9.01 on Wednesday. The business’s 50 day moving average is $7.76 and its two-hundred day moving average is $8.18. 89bio has a 12-month low of $5.99 and a 12-month high of $16.63. The company has a market capitalization of $956.23 million, a P/E ratio of -3.10 and a beta of 1.14. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09.

About 89bio

(Get Free Report)

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.

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