89BIO (NASDAQ:ETNB) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of 89BIO (NASDAQ:ETNB) by 153.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,295 shares of the company’s stock after buying an additional 12,300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in 89BIO were worth $148,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 89BIO by 2.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,154 shares of the company’s stock worth $400,000 after buying an additional 1,169 shares during the period. Sandia Investment Management LP boosted its stake in shares of 89BIO by 28.5% during the fourth 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 during the period. Victory Capital Management Inc. boosted its stake in shares of 89BIO by 21.1% during the first quarter. Victory Capital Management Inc. now owns 16,913 shares of the company’s stock worth $123,000 after buying an additional 2,944 shares during the period. Teacher Retirement System of Texas lifted its position in 89BIO by 15.9% in the first quarter. Teacher Retirement System of Texas now owns 28,331 shares of the company’s stock valued at $206,000 after purchasing an additional 3,889 shares during the period. Finally, Invesco Ltd. lifted its position in 89BIO by 12.0% in the fourth quarter. Invesco Ltd. now owns 36,236 shares of the company’s stock valued at $283,000 after purchasing an additional 3,893 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ETNB shares. Royal Bank Of Canada reduced their price objective on shares of 89BIO from $12.00 to $11.00 and set a “sector perform” rating for the company in a research report on Friday. Cantor Fitzgerald upgraded shares of 89BIO to a “strong-buy” rating in a research report on Wednesday, April 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of 89BIO in a research report on Tuesday, July 29th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, 89BIO presently has an average rating of “Buy” and a consensus price target of $26.29.

Insider Buying and Selling

In other 89BIO news, insider Quoc Le-Nguyen sold 10,461 shares of 89BIO stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $11.02, for a total value of $115,280.22. Following the transaction, the insider owned 309,364 shares in the company, valued at $3,409,191.28. This trade represents a 3.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.80% of the company’s stock.

89BIO Trading Up 1.6%

Shares of ETNB opened at $9.16 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 18.03 and a quick ratio of 18.03. The firm has a 50 day simple moving average of $10.00 and a 200-day simple moving average of $8.93. 89BIO has a 1-year low of $4.16 and a 1-year high of $11.84. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -2.54 and a beta of 1.28.

89BIO (NASDAQ:ETNB) last released its earnings results on Thursday, August 7th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.22). During the same period in the previous year, the firm earned ($0.48) EPS. Equities analysts forecast that 89BIO will post -3.19 EPS for the current fiscal year.

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.