89bio, Inc. (NASDAQ:ETNB) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 89bio, Inc. (NASDAQ:ETNB - Free Report) by 26.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 178,691 shares of the company's stock after purchasing an additional 37,693 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.17% of 89bio worth $1,397,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rhumbline Advisers grew its holdings in 89bio by 3.3% during the 4th quarter. Rhumbline Advisers now owns 129,980 shares of the company's stock worth $1,016,000 after acquiring an additional 4,125 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of 89bio by 24.3% during the 4th 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. Bank of New York Mellon Corp increased its holdings in shares of 89bio by 3.9% in the 4th quarter. Bank of New York Mellon Corp now owns 248,156 shares of the company's stock valued at $1,941,000 after acquiring an additional 9,314 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in 89bio by 12.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 810,826 shares of the company's stock valued at $6,341,000 after purchasing an additional 89,776 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of 89bio by 11.5% in 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 last quarter.

89bio Stock Performance

Shares of ETNB stock opened at $10.25 on Monday. The stock has a fifty day moving average price of $7.65 and a 200 day moving average price of $8.22. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. The stock has a market cap of $1.50 billion, a PE ratio of -3.52 and a beta of 1.30. 89bio, Inc. has a 1 year low of $4.16 and a 1 year high of $11.84.

89bio (NASDAQ:ETNB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.01. During the same period last year, the company posted ($0.54) EPS. Sell-side analysts forecast that 89bio, Inc. will post -3.19 earnings per share for the current fiscal year.

Insider Transactions at 89bio

In related news, insider Quoc Le-Nguyen sold 15,329 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $5.95, for a total value of $91,207.55. Following the sale, the insider now owns 328,323 shares of the company's stock, valued at approximately $1,953,521.85. This represents a 4.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.80% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citigroup began coverage on shares of 89bio in a report on Thursday, March 13th. They issued a "buy" rating and a $25.00 target price on the stock. HC Wainwright reissued a "buy" rating and set a $21.00 price target (down previously from $29.00) on shares of 89bio in a report on Friday, February 28th. Weiss Ratings restated a "sell (d-)" rating on shares of 89bio in a research note on Saturday, May 24th. Cantor Fitzgerald upgraded shares of 89bio to a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group assumed coverage on shares of 89bio in a research note on Friday, March 14th. They set a "neutral" rating and a $11.00 price target on the stock. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $26.43.

89bio Company Profile

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.

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