Janus Henderson Group PLC Boosts Holdings in 89bio, Inc. (NASDAQ:ETNB)

Janus Henderson Group PLC raised its holdings in 89bio, Inc. (NASDAQ:ETNB) by 14.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,158,218 shares of the company’s stock after buying an additional 1,882,108 shares during the quarter. Janus Henderson Group PLC owned approximately 14.28% of 89bio worth $112,140,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Erste Asset Management GmbH purchased a new stake in shares of 89bio during the 3rd quarter worth about $5,631,000. Westfield Capital Management Co. LP grew its holdings in shares of 89bio by 29.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,006,038 shares of the company’s stock worth $22,245,000 after purchasing an additional 686,673 shares during the period. Candriam S.C.A. grew its holdings in shares of 89bio by 173.6% during the 2nd quarter. Candriam S.C.A. now owns 848,079 shares of the company’s stock worth $6,793,000 after purchasing an additional 538,079 shares during the period. Vanguard Group Inc. grew its holdings in shares of 89bio by 9.6% during the 1st quarter. Vanguard Group Inc. now owns 4,722,971 shares of the company’s stock worth $54,975,000 after purchasing an additional 415,386 shares during the period. Finally, Walleye Capital LLC grew its holdings in shares of 89bio by 1,232.2% during the 3rd quarter. Walleye Capital LLC now owns 435,298 shares of the company’s stock worth $3,221,000 after purchasing an additional 402,624 shares during the period.

Insider Buying and Selling

In other 89bio news, CEO Rohan Palekar bought 10,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were bought at an average cost of $8.35 per share, with a total value of $83,500.00. Following the transaction, the chief executive officer now directly owns 466,236 shares in the company, valued at approximately $3,893,070.60. This trade represents a 2.19 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ETNB has been the subject of a number of research reports. Raymond James decreased their target price on 89bio from $53.00 to $49.00 and set a “strong-buy” rating for the company in a report on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $29.00 target price on shares of 89bio in a report on Friday, September 20th. Finally, HC Wainwright reiterated a “buy” rating and set a $29.00 target price on shares of 89bio in a report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.33.

89bio Stock Performance

89bio stock opened at $8.30 on Thursday. The stock’s 50 day moving average price is $8.33 and its 200 day moving average price is $8.39. The firm has a market capitalization of $880.88 million, a PE ratio of -2.85 and a beta of 1.12. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. 89bio, Inc. has a one year low of $7.00 and a one year high of $16.63.

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.