89bio, Inc. (NASDAQ:ETNB – Get 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
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
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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