American Century Companies Inc. Has $888,000 Stake in 89bio, Inc. (NASDAQ:ETNB)

American Century Companies Inc. grew its stake in 89bio, Inc. (NASDAQ:ETNB) by 38.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 113,569 shares of the company’s stock after buying an additional 31,564 shares during the period. American Century Companies Inc.’s holdings in 89bio were worth $888,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Victory Capital Management Inc. increased its stake in 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in 89bio by 1.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,998 shares of the company’s stock worth $1,043,000 after buying an additional 1,624 shares during the period. New York State Common Retirement Fund raised its stake in 89bio by 24.3% during the 4th quarter. New York State Common Retirement Fund now owns 16,367 shares of the company’s stock worth $128,000 after buying an additional 3,200 shares during the period. Arizona State Retirement System lifted its holdings in 89bio by 15.8% during the fourth quarter. Arizona State Retirement System now owns 23,817 shares of the company’s stock worth $186,000 after acquiring an additional 3,252 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in 89bio by 17.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 26,185 shares of the company’s stock valued at $205,000 after acquiring an additional 3,820 shares during the period.

Insider Activity

In other 89bio news, Director Ra Capital Management, L.P. purchased 5,714,285 shares of 89bio stock in a transaction that occurred on Thursday, January 30th. The stock was acquired at an average price of $8.75 per share, for a total transaction of $49,999,993.75. Following the completion of the acquisition, the director now owns 19,554,319 shares of the company’s stock, valued at approximately $171,100,291.25. This trade represents a 41.29 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Quoc Le-Nguyen sold 10,963 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $6.49, for a total value of $71,149.87. Following the transaction, the insider now directly owns 271,833 shares in the company, valued at approximately $1,764,196.17. This trade represents a 3.88 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ETNB has been the topic of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $29.00 price target on shares of 89bio in a research report on Thursday, January 2nd. HC Wainwright restated a “buy” rating and set a $21.00 target price (down from $29.00) on shares of 89bio in a report on Friday, February 28th. UBS Group upped their price target on shares of 89bio from $25.00 to $38.00 and gave the company a “buy” rating in a report on Friday, January 31st. Citigroup started coverage on shares of 89bio in a research report on Thursday, March 13th. They set a “buy” rating and a $25.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of 89bio in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, 89bio currently has an average rating of “Moderate Buy” and a consensus target price of $27.56.

89bio Trading Up 10.8 %

Shares of NASDAQ:ETNB opened at $5.53 on Friday. The company’s 50-day moving average price is $8.58 and its two-hundred day moving average price is $8.24. 89bio, Inc. has a one year low of $4.16 and a one year high of $11.84. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.66 and a quick ratio of 11.66. The stock has a market capitalization of $807.29 million, a PE ratio of -1.90 and a beta of 1.25.

89bio (NASDAQ:ETNB) last released its earnings results on Thursday, March 6th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.42). On average, equities analysts forecast that 89bio, Inc. 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.