Arizona State Retirement System Has $186,000 Stock Holdings in 89bio, Inc. (NASDAQ:ETNB)

Arizona State Retirement System grew its holdings in 89bio, Inc. (NASDAQ:ETNB) by 15.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,817 shares of the company’s stock after buying an additional 3,252 shares during the quarter. Arizona State Retirement System’s holdings in 89bio were worth $186,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC increased its position in shares of 89bio by 14.2% during the 3rd quarter. Janus Henderson Group PLC now owns 15,158,218 shares of the company’s stock worth $112,140,000 after purchasing an additional 1,882,108 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of 89bio during the 3rd quarter worth about $5,631,000. Westfield Capital Management Co. LP increased its position 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 in the last quarter. Walleye Capital LLC increased its position 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 in the last quarter. Finally, Exome Asset Management LLC acquired a new stake in shares of 89bio during the 3rd quarter worth about $2,224,000.

89bio Stock Up 3.5 %

Shares of NASDAQ ETNB opened at $8.47 on Friday. The firm has a market capitalization of $1.24 billion, a PE ratio of -2.91 and a beta of 1.17. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09. 89bio, Inc. has a 1 year low of $5.99 and a 1 year high of $13.71. The firm’s 50-day moving average is $8.80 and its 200-day moving average is $8.44.

89bio (NASDAQ:ETNB) last issued its earnings results on Thursday, March 6th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.42). Equities analysts expect that 89bio, Inc. will post -3.19 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ETNB shares. The Goldman Sachs Group started coverage on shares of 89bio in a research report on Friday. They set a “neutral” rating and a $11.00 target price for the company. Wolfe Research initiated coverage on shares of 89bio in a report on Tuesday, February 4th. They set an “outperform” rating on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $29.00 price objective on shares of 89bio in a report on Thursday, January 2nd. Raymond James raised shares of 89bio to a “strong-buy” rating in a report on Thursday, December 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of 89bio in a report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.56.

Insider Activity at 89bio

In other news, Director Charles Mcwherter purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were acquired at an average cost of $6.55 per share, for a total transaction of $32,750.00. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $98,250. The trade was a 50.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Ra Capital Management, L.P. purchased 5,714,285 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was purchased at an average price of $8.75 per share, for a total transaction of $49,999,993.75. Following the completion of the transaction, the director now directly owns 19,554,319 shares in the company, valued at $171,100,291.25. This trade represents a 41.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.80% of the stock is currently owned by corporate insiders.

About 89bio

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.