Laurion Capital Management LP Sells 30,260 Shares of 89bio, Inc. (NASDAQ:ETNB)

Laurion Capital Management LP lowered its holdings in shares of 89bio, Inc. (NASDAQ:ETNB) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 780,273 shares of the company’s stock after selling 30,260 shares during the period. Laurion Capital Management LP’s holdings in 89bio were worth $6,102,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Federated Hermes Inc. raised its holdings in 89bio by 206.9% in the fourth quarter. Federated Hermes Inc. now owns 6,283 shares of the company’s stock worth $49,000 after buying an additional 4,236 shares during the last quarter. Quarry LP purchased a new position in 89bio in the fourth quarter worth about $55,000. Kingswood Wealth Advisors LLC purchased a new position in 89bio in the fourth quarter worth about $86,000. Hsbc Holdings PLC purchased a new position in 89bio in the fourth quarter worth about $87,000. Finally, Tower Research Capital LLC TRC raised its holdings in 89bio by 109.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,725 shares of the company’s stock worth $92,000 after buying an additional 6,132 shares during the last quarter.

89bio Stock Performance

Shares of ETNB stock opened at $7.70 on Monday. The company has a 50 day moving average price of $7.26 and a 200-day moving average price of $8.16. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.12 billion, a PE ratio of -2.65 and a beta of 1.23. 89bio, Inc. has a 52 week low of $4.16 and a 52 week high of $11.84.

89bio (NASDAQ:ETNB) last announced its earnings results on Thursday, May 1st. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.01. During the same quarter in the prior year, the business earned ($0.54) EPS. As a group, equities research analysts expect that 89bio, Inc. will post -3.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ETNB shares. Wolfe Research started coverage on shares of 89bio in a report on Tuesday, February 4th. They issued an “outperform” rating for the company. UBS Group lifted their target price on shares of 89bio from $25.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Cantor Fitzgerald upgraded shares of 89bio to a “strong-buy” rating in a research note on Wednesday, April 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 89bio in a research note on Saturday. Finally, The Goldman Sachs Group started coverage on shares of 89bio in a research note on Friday, March 14th. They issued a “neutral” rating and a $11.00 price target for the company. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $27.25.

Insider Activity at 89bio

In related news, insider Quoc Le-Nguyen sold 15,329 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $5.95, for a total transaction of $91,207.55. Following the completion of the sale, the insider now directly owns 328,323 shares in the company, valued at approximately $1,953,521.85. The trade was a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is currently owned by company insiders.

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.