On December 6, 2024, Rohan Palekar, the Chief Executive Officer of 89bio Inc (ETNB, Financial), acquired 5,000 shares of the company. This transaction was documented in a SEC Filing. Following this purchase, the insider now holds a total of 471,236 shares in the company.
89bio Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for the treatment of liver and cardio-metabolic diseases. The company's primary focus is on addressing unmet medical needs in these areas.
The recent purchase by Rohan Palekar is part of a broader trend of insider activity within the company. Over the past year, the insider has purchased a total of 15,000 shares and sold 57,195 shares. The overall insider transaction history for 89bio Inc indicates there have been four insider buys and three insider sells in the past year.
Shares of 89bio Inc were trading at $7.89 each on the day of the insider's recent purchase, giving the stock a market cap of $944.185 million.
Investors often monitor insider buying and selling as it can provide insights into the confidence levels of those closest to the company. The recent activity by Rohan Palekar may be of interest to those tracking the company's performance and strategic direction.
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