AJOVista LLC Invests $42,000 in 89bio, Inc. (NASDAQ:ETNB)

AJOVista LLC purchased a new position in 89bio, Inc. (NASDAQ:ETNB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,789 shares of the company’s stock, valued at approximately $42,000.

A number of other hedge funds have also recently made changes to their positions in ETNB. Vanguard Group Inc. grew its stake in 89bio by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,525,782 shares of the company’s stock worth $54,438,000 after acquiring an additional 155,841 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of 89bio by 19.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,698,417 shares of the company’s stock worth $26,224,000 after buying an additional 272,255 shares in the last quarter. Braidwell LP bought a new stake in shares of 89bio in the third quarter valued at about $24,556,000. Westfield Capital Management Co. LP boosted its stake in shares of 89bio by 57.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,311,886 shares of the company’s stock valued at $20,256,000 after purchasing an additional 476,655 shares in the last quarter. Finally, Laurion Capital Management LP increased its holdings in 89bio by 65.8% during the third quarter. Laurion Capital Management LP now owns 1,205,638 shares of the company’s stock valued at $18,615,000 after buying an additional 478,632 shares during the period.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Evercore ISI lifted their price target on 89bio from $29.00 to $37.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $29.00 price objective on shares of 89bio in a research note on Friday, April 5th. Bank of America reiterated a “buy” rating and set a $30.00 price target on shares of 89bio in a research report on Monday, April 22nd. Royal Bank of Canada cut their price objective on shares of 89bio from $15.00 to $14.00 and set a “sector perform” rating for the company in a report on Friday, March 1st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $31.00 target price on shares of 89bio in a research note on Wednesday, March 27th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, 89bio presently has an average rating of “Moderate Buy” and an average price target of $29.00.

Insider Activity at 89bio

In other 89bio news, CEO Rohan Palekar sold 4,477 shares of 89bio stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $10.76, for a total transaction of $48,172.52. Following the transaction, the chief executive officer now directly owns 486,889 shares of the company’s stock, valued at $5,238,925.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ra Capital Management, L.P. acquired 1,350,000 shares of 89bio stock in a transaction that occurred on Monday, March 4th. The shares were purchased at an average cost of $15.35 per share, for a total transaction of $20,722,500.00. Following the acquisition, the director now owns 12,431,584 shares in the company, valued at $190,824,814.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rohan Palekar sold 4,477 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $10.76, for a total transaction of $48,172.52. Following the completion of the transaction, the chief executive officer now directly owns 486,889 shares in the company, valued at approximately $5,238,925.64. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

89bio Stock Up 4.1 %

ETNB opened at $9.22 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 20.04 and a quick ratio of 20.04. The company’s 50 day simple moving average is $10.85 and its two-hundred day simple moving average is $9.93. 89bio, Inc. has a 1-year low of $6.57 and a 1-year high of $22.93.

89bio (NASDAQ:ETNB) last issued its earnings results on Thursday, February 29th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.01). Research analysts anticipate that 89bio, Inc. will post -2.2 earnings per share for the current year.

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.