UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 89bio, Inc. (NASDAQ:ETNB - Free Report) by 26.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 178,691 shares of the company's stock after purchasing an additional 37,693 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.17% of 89bio worth $1,397,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in 89bio by 2.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,154 shares of the company's stock worth $400,000 after purchasing an additional 1,169 shares in the last quarter. Victory Capital Management Inc. lifted its holdings 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 worth $109,000 after buying an additional 1,437 shares during the period. Sandia Investment Management LP grew its position in shares of 89bio by 28.5% during the 4th quarter. Sandia Investment Management LP now owns 11,286 shares of the company's stock worth $88,000 after buying an additional 2,500 shares in the last quarter. New York State Common Retirement Fund increased its stake 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 valued at $128,000 after buying an additional 3,200 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of 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 buying an additional 3,252 shares during the period.
89bio Stock Performance
NASDAQ ETNB traded down $0.42 during mid-day trading on Thursday, reaching $9.62. 4,548,975 shares of the stock were exchanged, compared to its average volume of 1,483,536. The company has a market capitalization of $1.40 billion, a P/E ratio of -3.31 and a beta of 1.30. 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 business's 50 day moving average is $7.87 and its 200-day moving average is $8.26. 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 posted its 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 quarter in the previous year, the business earned ($0.54) EPS. On average, equities research analysts forecast that 89bio, Inc. will post -3.19 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on ETNB shares. Citigroup started coverage on shares of 89bio in a report on Thursday, March 13th. They set a "buy" rating and a $25.00 target price on the stock. HC Wainwright reissued a "buy" rating and issued a $21.00 price objective (down previously from $29.00) on shares of 89bio in a research note on Friday, February 28th. Cantor Fitzgerald upgraded 89bio to a "strong-buy" rating in a report on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on 89bio in a research report on Friday, March 14th. They issued a "neutral" rating and a $11.00 price target for the company. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 89bio in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, 89bio presently has a consensus rating of "Buy" and an average target price of $26.43.
Read Our Latest Stock Analysis on 89bio
Insider Buying and Selling at 89bio
In other 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 transaction of $91,207.55. Following the completion of the transaction, the insider now directly owns 328,323 shares of the company's stock, valued at $1,953,521.85. This represents a 4.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 2.60% of the stock is owned by corporate insiders.
About 89bio
(
Free Report)
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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