1 week Ago By Defense World Staff
KLP Kapitalforvaltning AS acquired a new position in shares of 89bio, Inc. (NASDAQ:ETNB – Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 14,600 shares of the company’s stock, valued at approximately $114,000.
A number of other institutional investors also recently made changes to their positions in ETNB. Kingswood Wealth Advisors LLC acquired a new stake in 89bio in the fourth quarter valued at $86,000. Victory Capital Management Inc.
raised its stake in shares of 89bio by 11.5% in the 4th 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. New York State Common Retirement Fund lifted its position in shares of 89bio by 24.3% during the fourth quarter.
New York State Common Retirement Fund now owns 16,367 shares of the company’s stock worth $128,000 after purchasing an additional 3,200 shares during the last quarter. Arizona State Retirement System increased its holdings in 89bio by 15.8% in the fourth quarter.
Arizona State Retirement System now owns 23,817 shares of the company’s stock valued at $186,000 after buying an additional 3,252 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in 89bio by 36.4% during the fourth quarter.
Teacher Retirement System of Texas now owns 24,442 shares of the company’s stock valued at $191,000 after buying an additional 6,521 shares in the last quarter. 89bio Stock Up 14.7 %ETNB stock opened at $5.
54 on Thursday. 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 company has a 50-day moving average of $8.
77 and a two-hundred day moving average of $8.27. The stock has a market capitalization of $808.
75 million, a price-to-earnings ratio of -1.90 and a beta of 1.25.
89bio, Inc. has a 52-week low of $4.16 and a 52-week high of $11.
84. 89bio (NASDAQ:ETNB – Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($1.
02) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.42).
As a group, equities research analysts anticipate that 89bio, Inc. will post -3.19 EPS for the current year.
Analyst Upgrades and DowngradesETNB has been the topic of several research analyst reports. UBS Group raised their price objective on 89bio from $25.00 to $38.
00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Raymond James upgraded 89bio to a “strong-buy” rating in a research note on Thursday, December 12th. Weiss Ratings restated a “sell (d-)” rating on shares of 89bio in a research note on Tuesday.
Citigroup assumed coverage on shares of 89bio in a research report on Thursday, March 13th. They issued a “buy” rating and a $25.00 price objective on the stock.
Finally, The Goldman Sachs Group started coverage on 89bio in a research note on Friday, March 14th. They set a “neutral” rating and a $11.00 target price on the stock.
Two equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $27.56.
View Our Latest Stock Analysis on 89bioInsider ActivityIn other 89bio news, Director Ra Capital Management, L.P. bought 5,714,285 shares of the stock in a transaction dated Thursday, January 30th.
The stock was bought at an average cost of $8.75 per share, for a total transaction of $49,999,993.75.
Following the completion of the purchase, the director now owns 19,554,319 shares in the company, valued at $171,100,291.25. This represents a 41.
29 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Mcwherter purchased 5,000 shares of 89bio stock in a transaction that occurred on Tuesday, January 21st.
The shares were bought at an average price of $6.55 per share, for a total transaction of $32,750.00.
Following the transaction, the director now owns 15,000 shares in the company, valued at $98,250. This represents a 50.00 % increase in their ownership of the stock.
The disclosure for this purchase can be found here. Corporate insiders own 2.80% of the company’s stock.
About 89bio (Free Report)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.Further ReadingFive stocks we like better than 89bio3 Tickers Leading a Meme Stock RevivalQuantum Computing: The $6.
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