89bio, Inc. (NASDAQ:ETNB) Stock Holdings Lifted by Swiss National Bank

Swiss National Bank lifted its position in 89bio, Inc. (NASDAQ:ETNB) by 15.0% in the 4th quarter, Holdings Channel reports. The fund owned 161,600 shares of the company’s stock after buying an additional 21,100 shares during the period. Swiss National Bank’s holdings in 89bio were worth $1,264,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in shares of 89bio by 11.5% during the 4th quarter. Victory Capital Management Inc. now owns 13,969 shares of the company’s stock valued at $109,000 after buying an additional 1,437 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of 89bio by 1.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,998 shares of the company’s stock worth $1,043,000 after acquiring an additional 1,624 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of 89bio by 24.3% during the fourth quarter. New York State Common Retirement Fund now owns 16,367 shares of the company’s stock worth $128,000 after acquiring an additional 3,200 shares in the last quarter. Arizona State Retirement System boosted its position in 89bio by 15.8% during the fourth quarter. Arizona State Retirement System now owns 23,817 shares of the company’s stock valued at $186,000 after purchasing an additional 3,252 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in 89bio by 17.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 26,185 shares of the company’s stock valued at $205,000 after purchasing an additional 3,820 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ETNB shares. Citigroup initiated coverage on shares of 89bio in a research report on Thursday, March 13th. They set a “buy” rating and a $25.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $29.00 price target on shares of 89bio in a report on Thursday, January 2nd. The Goldman Sachs Group started coverage on shares of 89bio in a research note on Friday, March 14th. They issued a “neutral” rating and a $11.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of 89bio in a research report on Saturday, March 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price target (down previously from $29.00) on shares of 89bio in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.56.

Insider Buying and Selling at 89bio

In related news, Director Charles Mcwherter bought 5,000 shares of 89bio stock in a transaction that occurred on Tuesday, January 21st. The stock was acquired at an average price of $6.55 per share, for a total transaction of $32,750.00. Following the completion of the purchase, the director now owns 15,000 shares in the company, valued at approximately $98,250. This represents a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Quoc Le-Nguyen sold 10,963 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $6.49, for a total value of $71,149.87. Following the transaction, the insider now owns 271,833 shares in the company, valued at $1,764,196.17. This represents a 3.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

89bio Price Performance

NASDAQ ETNB opened at $8.08 on Friday. The stock has a market capitalization of $1.18 billion, a PE ratio of -2.78 and a beta of 1.17. The stock has a 50-day simple moving average of $9.16 and a 200 day simple moving average of $8.42. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. 89bio, Inc. has a twelve month low of $5.99 and a twelve month high of $11.84.

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

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.