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SAN FRANCISCO—Le-Nguyen Quoc, the Chief Technical Operations Officer at 89bio, Inc. (NASDAQ:ETNB), recently executed a sale of company shares, according to a recent SEC filing. The transaction, which took place on April 15, 2025, involved the sale of 15,329 shares of common stock at a weighted average price of $5.95 per share, totaling approximately $91,207. The sale occurred with the stock trading near $6.06, significantly below its 52-week high of $11.84. According to InvestingPro analysis, the stock currently appears fairly valued.
This sale was conducted under a Rule 10b5-1 trading plan adopted on July 1, 2024, a strategy that allows insiders to set up a predetermined plan to sell stocks, thereby helping them avoid accusations of insider trading. Following this transaction, Quoc holds 328,323 shares directly, with an additional 14,750 shares indirectly owned by a spouse.
The transaction was part of multiple sales at prices ranging from $5.87 to $6.09. 89bio, located in San Francisco, operates in the pharmaceutical preparations industry, focusing on innovative treatments for liver and cardio-metabolic diseases. With a market capitalization of $890.5 million, the company maintains a strong financial position with a current ratio of 13.19 and moderate market sensitivity (beta: 1.29). Investors should note that 89bio’s next earnings report is scheduled for May 7, 2025.
In other recent news, 89bio Inc . has been the focus of several analyst reports and company updates. Cantor Fitzgerald maintained its Overweight rating on 89bio, with a price target of $29.00, reflecting confidence in the company’s financial standing and future prospects. The firm highlighted the company’s strong cash position of $440 million and an additional $288 million raised earlier this quarter. Meanwhile, H.C. Wainwright adjusted its price target for 89bio to $21, maintaining a Buy rating, following changes in the timeline for the Phase 3 ENTRUST study of pegozafermin for severe hypertriglyceridemia. Goldman Sachs initiated coverage on 89bio with a Neutral rating and an $11 price target, acknowledging the potential of pegozafermin but adopting a cautious outlook pending further data. The company has updated timelines for its Phase 3 trials of pegozafermin, with significant data expected in the coming years. Additionally, 89bio’s CEO, Rohan Palekar, was awarded 200,000 restricted stock units as part of a retention strategy. These developments reflect ongoing interest and strategic planning within the company as it progresses with its clinical programs.
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