89bio (NASDAQ:ETNB) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 462,500 shares, a growth of 16.0% from the January 15th total of 398,600 shares. Currently, 5.1% of the shares of the company are sold short. Based on an average daily volume of 95,200 shares, the days-to-cover ratio is currently 4.9 days.

A number of analysts have recently weighed in on ETNB shares. Oppenheimer started coverage on 89bio in a research report on Monday, December 9th. They set an “outperform” rating and a $60.00 price target on the stock. Svb Leerink reiterated an “outperform” rating on shares of 89bio in a research report on Thursday, January 2nd. Royal Bank of Canada initiated coverage on 89bio in a research report on Monday, December 9th. They set an “outperform” rating and a $36.00 price target on the stock. Leerink Swann initiated coverage on 89bio in a research report on Monday, December 9th. They issued an “outperform” rating and a $55.00 target price on the stock. Finally, Bank of America initiated coverage on 89bio in a research report on Monday, December 9th. They issued a “neutral” rating and a $33.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. 89bio currently has an average rating of “Buy” and an average target price of $47.80.

Institutional investors and hedge funds have recently bought and sold shares of the stock. RA Capital Management L.P. acquired a new stake in 89bio during the fourth quarter worth about $83,108,000. Schonfeld Strategic Advisors LLC acquired a new stake in 89bio during the fourth quarter worth about $705,000. Goldman Sachs Group Inc. acquired a new stake in 89bio during the fourth quarter worth about $600,000. Alyeska Investment Group L.P. acquired a new stake in 89bio during the fourth quarter worth about $3,140,000. Finally, UBS Group AG acquired a new stake in 89bio during the fourth quarter worth about $163,000.

ETNB traded up $1.45 during trading hours on Friday, hitting $32.50. The company’s stock had a trading volume of 13,100 shares, compared to its average volume of 48,955. 89bio has a fifty-two week low of $16.60 and a fifty-two week high of $46.19. The business’s 50-day moving average is $26.86.

89bio (NASDAQ:ETNB) last posted its earnings results on Wednesday, December 18th. The company reported ($30.63) EPS for the quarter, missing the consensus estimate of ($1.20) by ($29.43). As a group, equities analysts predict that 89bio will post -35.76 EPS for the current fiscal year.

89bio Company 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, BIO89-100, a glycoPEGylated analog of fibroblast growth factor 21 that is being developed for the treatment of nonalcoholic steatohepatitis.

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