89bio (NASDAQ:ETNB) Shares Gap Down to $8.30

89bio, Inc. (NASDAQ:ETNBGet Free Report)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $8.30, but opened at $7.70. 89bio shares last traded at $7.85, with a volume of 253,604 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ETNB shares. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 price objective on shares of 89bio in a research note on Thursday, May 16th. 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. Bank of America reissued a “buy” rating and issued a $30.00 target price on shares of 89bio in a report on Monday, April 22nd. Evercore ISI dropped their target price on shares of 89bio from $37.00 to $33.00 and set an “outperform” rating for the company in a research report on Wednesday, May 15th. Finally, Oppenheimer reiterated a “market perform” rating on shares of 89bio in a report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $28.14.

Get Our Latest Report on ETNB

89bio Stock Up 0.3 %

The business’s fifty day moving average is $9.13 and its two-hundred day moving average is $10.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.03 and a quick ratio of 15.03.

89bio (NASDAQ:ETNBGet Free Report) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.08). During the same period last year, the firm earned ($0.54) EPS. Analysts predict that 89bio, Inc. will post -2.42 earnings per share for the current year.

Institutional Investors Weigh In On 89bio

Several large investors have recently added to or reduced their stakes in ETNB. Charles Schwab Investment Management Inc. increased its position in shares of 89bio by 193.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 489,004 shares of the company’s stock valued at $7,550,000 after purchasing an additional 322,339 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its stake in shares of 89bio by 18.2% in the third quarter. Campbell & CO Investment Adviser LLC now owns 15,037 shares of the company’s stock valued at $232,000 after acquiring an additional 2,318 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of 89bio by 93.2% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 51,400 shares of the company’s stock worth $794,000 after acquiring an additional 24,800 shares during the last quarter. Citigroup Inc. boosted its stake in shares of 89bio by 20.3% during the 3rd quarter. Citigroup Inc. now owns 161,856 shares of the company’s stock worth $2,499,000 after purchasing an additional 27,294 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of 89bio by 53.7% during the third quarter. PNC Financial Services Group Inc. now owns 13,400 shares of the company’s stock valued at $207,000 after buying an additional 4,680 shares during the period.

89bio Company Profile

(Get Free Report)

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.

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