Swiss National Bank Grows Stake in 89BIO $ETNB

Swiss National Bank lifted its position in 89BIO (NASDAQ:ETNB) by 27.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 205,500 shares of the company’s stock after purchasing an additional 43,900 shares during the quarter. Swiss National Bank owned about 0.14% of 89BIO worth $1,494,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 during the last quarter. Sandia Investment Management LP grew its stake in 89BIO by 28.5% in 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. Victory Capital Management Inc. increased its holdings in shares of 89BIO by 21.1% in the 1st 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 last quarter. Teacher Retirement System of Texas increased its holdings in shares of 89BIO by 15.9% in the 1st quarter. Teacher Retirement System of Texas now owns 28,331 shares of the company’s stock worth $206,000 after buying an additional 3,889 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of 89BIO by 12.0% during the 4th quarter. Invesco Ltd. now owns 36,236 shares of the company’s stock valued at $283,000 after buying an additional 3,893 shares in the last quarter.

Insider Buying and Selling at 89BIO

In related news, insider Quoc Le-Nguyen sold 10,461 shares of the business’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $11.02, for a total transaction of $115,280.22. Following the transaction, the insider owned 309,364 shares in the company, valued at $3,409,191.28. The trade was a 3.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ETNB. Cantor Fitzgerald upgraded shares of 89BIO to a “strong-buy” rating in a research report on Wednesday, April 30th. Royal Bank Of Canada dropped their price target on 89BIO from $12.00 to $11.00 and set a “sector perform” rating for the company in a research note on Friday, August 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of 89BIO in a report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $26.29.

89BIO Price Performance

ETNB opened at $9.43 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 15.19 and a quick ratio of 15.19. The stock’s 50 day simple moving average is $9.80 and its 200 day simple moving average is $8.90. The firm 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 1 year low of $4.16 and a 1 year high of $11.84.

89BIO (NASDAQ:ETNB) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.22). During the same quarter in the previous year, the firm posted ($0.48) EPS. As a group, analysts predict that 89BIO will post -3.19 earnings per share for the current 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.