89bio, Inc. (NASDAQ:ETNB) Insider Ram Waisbourd Sells 7,000 Shares

89bio, Inc. (NASDAQ:ETNB) insider Ram Waisbourd sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, September 16th. The shares were sold at an average price of $19.46, for a total transaction of $136,220.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Ram Waisbourd also recently made the following trade(s):

  • On Friday, July 16th, Ram Waisbourd sold 7,000 shares of 89bio stock. The shares were sold at an average price of $16.80, for a total transaction of $117,600.00.

Shares of 89bio stock opened at $20.28 on Wednesday. The firm has a fifty day simple moving average of $18.24 and a 200-day simple moving average of $20.74. The company has a current ratio of 23.82, a quick ratio of 23.82 and a debt-to-equity ratio of 0.01. 89bio, Inc. has a 1-year low of $14.70 and a 1-year high of $28.28. The stock has a market capitalization of $407.38 million and a price-to-earnings ratio of -6.22.

89bio (NASDAQ:ETNB) last issued its quarterly earnings data on Wednesday, August 11th. The company reported ($1.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.83) by ($0.20). As a group, research analysts predict that 89bio, Inc. will post -3.85 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System increased its position in 89bio by 6.7% during the second quarter. California State Teachers Retirement System now owns 13,436 shares of the company’s stock worth $251,000 after acquiring an additional 844 shares during the period. Alliancebernstein L.P. increased its position in 89bio by 18.6% during the second quarter. Alliancebernstein L.P. now owns 14,000 shares of the company’s stock worth $262,000 after acquiring an additional 2,200 shares during the period. Cubist Systematic Strategies LLC bought a new position in 89bio during the first quarter worth $321,000. Bourgeon Capital Management LLC increased its position in 89bio by 21.2% during the second quarter. Bourgeon Capital Management LLC now owns 22,050 shares of the company’s stock worth $412,000 after acquiring an additional 3,850 shares during the period. Finally, GSA Capital Partners LLP increased its position in 89bio by 50.8% during the first quarter. GSA Capital Partners LLP now owns 17,761 shares of the company’s stock worth $421,000 after acquiring an additional 5,987 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have issued reports on ETNB shares. BTIG Research started coverage on shares of 89bio in a research note on Thursday, July 29th. They issued a “buy” rating and a $60.00 target price for the company. Zacks Investment Research cut shares of 89bio from a “hold” rating to a “sell” rating in a research note on Tuesday, August 17th. Raymond James reduced their target price on shares of 89bio from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, August 13th. SVB Leerink reiterated a “buy” rating and issued a $62.00 target price on shares of 89bio in a research note on Sunday, August 15th. Finally, Royal Bank of Canada reduced their target price on shares of 89bio from $48.00 to $46.00 and set an “outperform” rating for the company in a research note on Friday, August 13th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $53.89.

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 BIO89-100, a glycoPEGylated analog of fibroblast growth factor 21 for the treatment of nonalcoholic steatohepatitis.

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Insider Buying and Selling by Quarter for 89bio (NASDAQ:ETNB)

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