XTX Topco Ltd Invests $524,000 in 89BIO $ETNB

XTX Topco Ltd bought a new stake in shares of 89BIO (NASDAQ:ETNB) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 53,366 shares of the company’s stock, valued at approximately $524,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Woodline Partners LP grew its holdings in shares of 89BIO by 77.5% during the 1st quarter. Woodline Partners LP now owns 700,754 shares of the company’s stock worth $5,094,000 after acquiring an additional 305,928 shares during the period. Voya Investment Management LLC lifted its stake in shares of 89BIO by 417.9% in the 1st quarter. Voya Investment Management LLC now owns 132,791 shares of the company’s stock valued at $965,000 after purchasing an additional 107,151 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of 89BIO during the first quarter valued at approximately $719,000. Goldman Sachs Group Inc. grew its stake in 89BIO by 23.3% in the first quarter. Goldman Sachs Group Inc. now owns 995,449 shares of the company’s stock worth $7,237,000 after purchasing an additional 188,367 shares during the period. Finally, Rhumbline Advisers grew its stake in 89BIO by 17.0% in the first quarter. Rhumbline Advisers now owns 152,138 shares of the company’s stock worth $1,106,000 after purchasing an additional 22,158 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have commented on ETNB. Zacks Research lowered 89BIO from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. HC Wainwright cut shares of 89BIO from a “buy” rating to a “neutral” rating and set a $14.50 price target for the company. in a research report on Friday, September 19th. Bank of America dropped their price objective on shares of 89BIO from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, August 25th. Wolfe Research downgraded shares of 89BIO from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 19th. Finally, Raymond James Financial lowered shares of 89BIO from a “strong-buy” rating to a “market perform” rating in a report on Friday, September 19th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $22.50.

89BIO Price Performance

Shares of NASDAQ:ETNB opened at $14.84 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 15.19 and a current ratio of 15.19. 89BIO has a fifty-two week low of $4.16 and a fifty-two week high of $15.06. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -4.11 and a beta of 1.27. The business has a 50-day simple moving average of $14.82 and a two-hundred day simple moving average of $11.61.

89BIO Company 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.