Arizona State Retirement System Has $186,000 Holdings in 89bio, Inc. (NASDAQ:ETNB)

Arizona State Retirement System grew its holdings in 89bio, Inc. (NASDAQ:ETNB) by 15.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 23,817 shares of the company’s stock after acquiring an additional 3,252 shares during the quarter. Arizona State Retirement System’s holdings in 89bio were worth $186,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Victory Capital Management Inc. raised its holdings in shares of 89bio by 11.5% in the fourth quarter. Victory Capital Management Inc. now owns 13,969 shares of the company’s stock valued at $109,000 after purchasing an additional 1,437 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 89bio by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,998 shares of the company’s stock valued at $1,043,000 after buying an additional 1,624 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of 89bio by 24.3% in 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 in the last quarter. Rhumbline Advisers grew its stake in shares of 89bio by 3.3% in the fourth quarter. Rhumbline Advisers now owns 129,980 shares of the company’s stock valued at $1,016,000 after buying an additional 4,125 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of 89bio by 22.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 24,932 shares of the company’s stock valued at $195,000 after buying an additional 4,562 shares in the last quarter.

Analysts Set New Price Targets

Several research firms recently weighed in on ETNB. Weiss Ratings reissued a “sell (d-)” rating on shares of 89bio in a research note on Friday, March 7th. Citigroup began coverage on shares of 89bio in a research note on Thursday. They issued a “buy” rating and a $25.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $29.00 target price on shares of 89bio in a research note on Thursday, January 2nd. Raymond James raised shares of 89bio to a “strong-buy” rating in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group began coverage on shares of 89bio in a research report on Friday. They set a “neutral” rating and a $11.00 price objective for the company. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $27.56.

Insider Transactions at 89bio

In related news, insider Quoc Le-Nguyen sold 10,963 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $6.49, for a total value of $71,149.87. Following the completion of the transaction, the insider now owns 271,833 shares of the company’s stock, valued at $1,764,196.17. The trade was a 3.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ra Capital Management, L.P. purchased 5,714,285 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was bought at an average cost of $8.75 per share, with a total value of $49,999,993.75. Following the purchase, the director now owns 19,554,319 shares of the company’s stock, valued at $171,100,291.25. This represents a 41.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.80% of the company’s stock.

89bio Stock Up 3.5 %

ETNB opened at $8.47 on Friday. 89bio, Inc. has a fifty-two week low of $5.99 and a fifty-two week high of $13.71. 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 company has a market capitalization of $1.24 billion, a P/E ratio of -2.91 and a beta of 1.17. The stock has a fifty day moving average of $8.80 and a 200-day moving average of $8.44.

89bio (NASDAQ:ETNB) last posted its earnings results on Thursday, March 6th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.42). On average, equities analysts expect that 89bio, Inc. will post -3.19 EPS for the current year.

About 89bio

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.