Yahoo Finance 89bio Inc CEO Rohan Palekar Sells 52,718 Shares
Rohan Palekar, CEO of 89bio Inc (NASDAQ:ETNB), executed a sale of 52,718 shares in the company on April 1, 2024, according to a recent SEC Filing. The transaction was made public through an SEC filing, which provides a window into insider transactions at the company.
89bio Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for nonalcoholic steatohepatitis (NASH), which is a severe form of nonalcoholic fatty liver disease, and other liver and cardio-metabolic diseases. The company is committed to creating best-in-class medicines that address unmet needs in these serious and life-threatening conditions.
The insider's recent transaction involved the sale of shares at a price of $10.91 each, resulting in a total value of $575,366.58. Following this transaction, the market cap of 89bio Inc stands at approximately $1.016 billion.
Over the past year, the insider, Rohan Palekar, has sold a total of 72,195 shares of 89bio Inc and has not made any share purchases. This latest sale represents a continuation of the insider's selling pattern over the specified period.
The insider transaction history for 89bio Inc indicates a trend of more insider sales than purchases over the past year. There has been a total of 1 insider buy and 7 insider sells during this timeframe.
The following insider trend image provides a visual representation of the buying and selling activities by insiders over the past year:
Investors often monitor insider buying and selling as it can provide insights into a company's internal perspective on the stock's value. However, insider transactions are not always indicative of future stock performance and can be influenced by various factors, including personal financial needs and portfolio diversification strategies.
It is important to consider the broader context and market conditions when evaluating insider transactions, as well as the company's overall financial health and future prospects.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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