University of Wisconsin Foundation Acquires 236,000 Shares of 89BIO $ETNB

Key Points

• The University of Wisconsin Foundation increased its stake in 89BIO by 25.7%, acquiring an additional 236,000 shares to hold a total of 1,153,357 shares, making it the foundation's 6th largest holding.
• 89BIO's stock price has shown a 2.6% increase recently, with a current trading price of $9.43, and a market cap of approximately $1.40 billion.
• Analysts have mixed opinions on 89BIO's stock, with ratings ranging from a "strong buy" to a "sell," and a current average price target of $26.29.

University of Wisconsin Foundation increased its holdings in shares of 89BIO (NASDAQ:ETNB - Free Report) by 25.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,153,357 shares of the company's stock after acquiring an additional 236,000 shares during the period. 89BIO makes up approximately 6.5% of University of Wisconsin Foundation's portfolio, making the stock its 6th biggest holding. University of Wisconsin Foundation owned 0.79% of 89BIO worth $8,385,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Janus Henderson Group PLC grew its holdings in 89BIO by 8.9% during the fourth quarter. Janus Henderson Group PLC now owns 16,514,056 shares of the company's stock worth $129,177,000 after acquiring an additional 1,355,838 shares during the period. Suvretta Capital Management LLC grew its holdings in 89BIO by 27.7% during the fourth quarter. Suvretta Capital Management LLC now owns 10,202,696 shares of the company's stock worth $79,785,000 after acquiring an additional 2,211,052 shares during the period. RTW Investments LP grew its holdings in 89BIO by 1.3% during the fourth quarter. RTW Investments LP now owns 7,478,061 shares of the company's stock worth $58,478,000 after acquiring an additional 99,513 shares during the period. Vanguard Group Inc. grew its holdings in 89BIO by 25.8% during the first quarter. Vanguard Group Inc. now owns 7,163,609 shares of the company's stock worth $52,079,000 after acquiring an additional 1,471,278 shares during the period. Finally, Deep Track Capital LP grew its holdings in 89BIO by 134.2% during the fourth quarter. Deep Track Capital LP now owns 6,478,249 shares of the company's stock worth $50,660,000 after acquiring an additional 3,711,737 shares during the period.

89BIO Stock Up 2.6%

ETNB opened at $9.43 on Friday. The business's fifty day moving average is $9.80 and its two-hundred day moving average is $8.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 15.19 and a current ratio of 15.19. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -2.61 and a beta of 1.28. 89BIO has a one year low of $4.16 and a one year high of $11.84.

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

Insider Activity

In other news, insider Quoc Le-Nguyen sold 10,461 shares of the company's stock in a transaction 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 sale, the insider directly owned 309,364 shares in the company, valued at $3,409,191.28. This represents a 3.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ETNB has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 89BIO in a report on Thursday, August 14th. Royal Bank Of Canada decreased their target price on 89BIO from $12.00 to $11.00 and set a "sector perform" rating on the stock in a research report on Friday, August 8th. Finally, Cantor Fitzgerald upgraded 89BIO to a "strong-buy" rating in a research report on Wednesday, April 30th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $26.29.

89BIO 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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