Gilliland Jeter Wealth Management LLC Acquires Shares of 19,000 89bio, Inc. (NASDAQ:ETNB)

Gilliland Jeter Wealth Management LLC acquired a new stake in 89bio, Inc. (NASDAQ:ETNB) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 19,000 shares of the company’s stock, valued at approximately $212,000.

A number of other institutional investors have also recently bought and sold shares of ETNB. Raymond James & Associates boosted its holdings in 89bio by 3.5% in the 3rd quarter. Raymond James & Associates now owns 102,988 shares of the company’s stock valued at $1,590,000 after purchasing an additional 3,464 shares during the period. TD Asset Management Inc bought a new stake in shares of 89bio during the 3rd quarter worth approximately $766,000. Bourgeon Capital Management LLC lifted its holdings in shares of 89bio by 85.0% during the 3rd quarter. Bourgeon Capital Management LLC now owns 55,500 shares of the company’s stock worth $857,000 after acquiring an additional 25,500 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of 89bio during the 3rd quarter worth approximately $4,906,000. Finally, Barclays PLC lifted its holdings in shares of 89bio by 218.4% during the 3rd quarter. Barclays PLC now owns 624,365 shares of the company’s stock worth $9,640,000 after acquiring an additional 428,297 shares during the period.

89bio Stock Up 0.1 %

ETNB stock traded up $0.01 during trading on Friday, reaching $8.26. 653,066 shares of the company were exchanged, compared to its average volume of 746,601. The company has a debt-to-equity ratio of 0.05, a current ratio of 20.04 and a quick ratio of 20.04. 89bio, Inc. has a twelve month low of $6.57 and a twelve month high of $22.93. The company has a 50-day moving average of $11.01 and a two-hundred day moving average of $9.87.

89bio (NASDAQ:ETNB) last announced its quarterly 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). On average, equities analysts anticipate that 89bio, Inc. will post -2.2 EPS for the current year.

Insider Buying and Selling at 89bio

In other 89bio news, CEO Rohan Palekar sold 4,477 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $10.76, for a total value 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Rohan Palekar sold 4,477 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $10.76, for a total value of $48,172.52. Following the sale, the chief executive officer now directly owns 486,889 shares of the company’s stock, valued at approximately $5,238,925.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ra Capital Management, L.P. acquired 1,350,000 shares of 89bio stock in a transaction dated Monday, March 4th. The stock was purchased at an average cost of $15.35 per share, for a total transaction of $20,722,500.00. Following the completion of the purchase, the director now owns 12,431,584 shares in the company, valued at approximately $190,824,814.40. The disclosure for this purchase can be found here. Corporate insiders own 4.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ETNB. Royal Bank of Canada cut their price target 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. Evercore ISI upped their price target on shares of 89bio from $29.00 to $37.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Bank of America reaffirmed a “buy” rating and set a $30.00 price target on shares of 89bio in a report on Monday, April 22nd. HC Wainwright reaffirmed a “buy” rating and set a $31.00 price target on shares of 89bio in a report on Wednesday, March 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $29.00 price objective on shares of 89bio in a research report on Friday, April 5th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

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.