89BIO $ETNB Shares Acquired by Swiss National Bank

Key Points

• Swiss National Bank increased its stake in 89BIO by 27.2%, holding 205,500 shares valued at approximately $1.49 million following a purchase of 43,900 shares.
• Insider Quoc Le-Nguyen sold 10,461 shares of the company, reducing their ownership by 3.27% but still retaining 309,364 shares worth about $3.41 million.
• 89BIO's recent earnings report showed a loss of ($0.71) per share, missing analyst predictions, with expectations of reporting (-3.19 EPS) for the current year.

Swiss National Bank boosted its stake in shares of 89BIO (NASDAQ:ETNB - Free Report) by 27.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 205,500 shares of the company's stock after buying an additional 43,900 shares during the period. Swiss National Bank owned 0.14% of 89BIO worth $1,494,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ETNB. CWM LLC lifted its stake in shares of 89BIO by 9,265.1% in the 1st quarter. CWM LLC now owns 5,900 shares of the company's stock valued at $43,000 after purchasing an additional 5,837 shares during the last quarter. Quarry LP acquired a new position in shares of 89BIO in the 4th quarter valued at $55,000. GAMMA Investing LLC lifted its stake in shares of 89BIO by 4,898.7% in the 1st quarter. GAMMA Investing LLC now owns 7,648 shares of the company's stock valued at $56,000 after purchasing an additional 7,495 shares during the last quarter. Sandia Investment Management LP lifted its stake in shares of 89BIO by 28.5% in the 4th quarter. Sandia Investment Management LP now owns 11,286 shares of the company's stock valued at $88,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of 89BIO in the 4th quarter valued at $87,000.

Insider Buying and Selling at 89BIO

In other 89BIO news, insider Quoc Le-Nguyen sold 10,461 shares of 89BIO stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $11.02, for a total value of $115,280.22. Following the transaction, the insider directly owned 309,364 shares in the company, valued at approximately $3,409,191.28. This trade represents a 3.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company's stock.

Analyst Ratings Changes

ETNB has been the topic of several recent analyst reports. Royal Bank Of Canada decreased their price target on 89BIO from $12.00 to $11.00 and set a "sector perform" rating on the stock in a research note on Friday, August 8th. Bank of America decreased their target price on 89BIO from $30.00 to $29.00 and set a "buy" rating on the stock in a research note on Monday, August 25th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of 89BIO in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $26.63.

89BIO Stock Performance

NASDAQ:ETNB traded down $0.39 during mid-day trading on Friday, reaching $9.03. 3,093,873 shares of the stock were exchanged, compared to its average volume of 1,513,982. The company has a 50 day simple moving average of $9.73 and a 200-day simple moving average of $8.86. The stock has a market capitalization of $1.34 billion, a P/E ratio of -2.50 and a beta of 1.28. The company has a quick ratio of 15.19, a current ratio of 15.19 and a debt-to-equity ratio of 0.07. 89BIO has a 1 year low of $4.16 and a 1 year high of $11.84.

89BIO (NASDAQ:ETNB - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.22). During the same quarter in the prior year, the firm posted ($0.48) earnings per share. Analysts anticipate that 89BIO will post -3.19 earnings per share for the current fiscal year.

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.