31,978 Shares in 89bio, Inc. (NASDAQ:ETNB) Purchased by XTX Topco Ltd

XTX Topco Ltd bought a new position in shares of 89bio, Inc. (NASDAQ:ETNB) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 31,978 shares of the company’s stock, valued at approximately $256,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ETNB. Quest Partners LLC grew its position in 89bio by 226.2% during the second quarter. Quest Partners LLC now owns 8,113 shares of the company’s stock worth $65,000 after buying an additional 5,626 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in 89bio by 28.4% during the first quarter. Ameritas Investment Partners Inc. now owns 7,886 shares of the company’s stock worth $92,000 after buying an additional 1,744 shares in the last quarter. Principal Financial Group Inc. purchased a new position in 89bio during the first quarter worth about $124,000. Chicago Partners Investment Group LLC lifted its stake in 89bio by 43.6% during the fourth quarter. Chicago Partners Investment Group LLC now owns 15,388 shares of the company’s stock worth $158,000 after purchasing an additional 4,673 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in 89bio by 10.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,760 shares of the company’s stock worth $165,000 after purchasing an additional 1,360 shares during the last quarter.

89bio Trading Down 1.4 %

ETNB opened at $7.26 on Friday. The business has a 50 day simple moving average of $8.48 and a two-hundred day simple moving average of $8.97. The firm has a market capitalization of $713.78 million, a price-to-earnings ratio of -3.61 and a beta of 1.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 13.92 and a quick ratio of 13.92. 89bio, Inc. has a one year low of $6.57 and a one year high of $16.63.

89bio (NASDAQ:ETNB) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.08. During the same period in the prior year, the business posted ($0.52) EPS. Analysts predict that 89bio, Inc. will post -2.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ETNB. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $29.00 price target on shares of 89bio in a research note on Friday, September 20th. Royal Bank of Canada dropped their price target on 89bio from $13.00 to $12.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 6th. Raymond James lifted their price target on 89bio from $50.00 to $53.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, August 6th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $29.00 price target on shares of 89bio in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, 89bio has an average rating of “Moderate Buy” and an average price target of $30.14.

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.