53,366 Shares in 89BIO $ETNB Purchased by XTX Topco Ltd

XTX Topco Ltd acquired a new position in 89BIO (NASDAQ:ETNB) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 53,366 shares of the company’s stock, valued at approximately $524,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ETNB. RA Capital Management L.P. boosted its stake in shares of 89BIO by 40.3% in the 1st quarter. RA Capital Management L.P. now owns 19,889,683 shares of the company’s stock worth $144,598,000 after buying an additional 5,714,285 shares during the last quarter. Beck Bode LLC bought a new stake in 89BIO during the first quarter worth $13,199,000. Assenagon Asset Management S.A. lifted its holdings in 89BIO by 406.2% during the second quarter. Assenagon Asset Management S.A. now owns 2,171,194 shares of the company’s stock worth $21,321,000 after acquiring an additional 1,742,299 shares during the period. Vanguard Group Inc. boosted its position in 89BIO by 25.8% in the first quarter. Vanguard Group Inc. now owns 7,163,609 shares of the company’s stock worth $52,079,000 after purchasing an additional 1,471,278 shares during the last quarter. Finally, Nuveen LLC bought a new position in 89BIO in the 1st quarter valued at $7,531,000.

89BIO Price Performance

Shares of NASDAQ ETNB opened at $14.84 on Friday. The company has a quick ratio of 15.19, a current ratio of 15.19 and a debt-to-equity ratio of 0.07. 89BIO has a 52 week low of $4.16 and a 52 week high of $15.06. The firm’s fifty day moving average is $14.82 and its 200 day moving average is $11.61. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -4.11 and a beta of 1.27.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Raymond James Financial cut 89BIO from a “strong-buy” rating to a “market perform” rating in a research note on Friday, September 19th. Royal Bank Of Canada decreased their price objective on shares of 89BIO from $12.00 to $11.00 and set a “sector perform” rating for the company in a report on Friday, August 8th. Zacks Research downgraded shares of 89BIO from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 89BIO in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered 89BIO to a “strong sell” rating in a report on Saturday, November 1st. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, 89BIO currently has a consensus rating of “Hold” and an average target price of $22.50.

89BIO Profile

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.