89bio, Inc. (NASDAQ:ETNB) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of 89bio, Inc. (NASDAQ:ETNB) by 94.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,850 shares of the company’s stock after purchasing an additional 7,692 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in 89bio were worth $177,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ETNB. Vanguard Group Inc. lifted its stake in shares of 89bio by 4.6% in the third quarter. Vanguard Group Inc. now owns 3,525,782 shares of the company’s stock worth $54,438,000 after buying an additional 155,841 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of 89bio by 19.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,698,417 shares of the company’s stock valued at $26,224,000 after acquiring an additional 272,255 shares during the last quarter. Braidwell LP purchased a new stake in shares of 89bio in the third quarter valued at about $24,556,000. Westfield Capital Management Co. LP increased its position in 89bio by 57.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,311,886 shares of the company’s stock worth $20,256,000 after purchasing an additional 476,655 shares during the last quarter. Finally, Laurion Capital Management LP raised its stake in 89bio by 65.8% during the third quarter. Laurion Capital Management LP now owns 1,205,638 shares of the company’s stock worth $18,615,000 after purchasing an additional 478,632 shares during the period.

Analysts Set New Price Targets

Several equities analysts have recently commented on ETNB shares. Evercore ISI upped their price target on 89bio from $29.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. HC Wainwright reaffirmed a “buy” rating and issued a $31.00 target price on shares of 89bio in a research report on Wednesday, March 27th. Oppenheimer reissued a “market perform” rating on shares of 89bio in a research report on Tuesday, March 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $29.00 price objective on shares of 89bio in a research report on Friday, April 5th. Finally, Bank of America restated a “buy” rating and set a $30.00 target price on shares of 89bio in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Insider Activity at 89bio

In other 89bio news, CEO Rohan Palekar sold 4,477 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $10.76, for a total transaction of $48,172.52. Following the transaction, the chief executive officer now owns 486,889 shares in the company, valued at approximately $5,238,925.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Ra Capital Management, L.P. acquired 1,350,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were purchased at an average price of $15.35 per share, with a total value of $20,722,500.00. Following the completion of the acquisition, the director now owns 12,431,584 shares in the company, valued at $190,824,814.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rohan Palekar sold 4,477 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $10.76, for a total transaction of $48,172.52. Following the completion of the transaction, the chief executive officer now directly owns 486,889 shares of the company’s stock, valued at $5,238,925.64. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

89bio Stock Down 2.3 %

Shares of NASDAQ ETNB opened at $9.37 on Wednesday. The business has a 50-day moving average price of $10.77 and a 200 day moving average price of $9.97. The stock has a market cap of $892.21 million, a PE ratio of -4.66 and a beta of 1.15. The company has a quick ratio of 20.04, a current ratio of 20.04 and a debt-to-equity ratio of 0.05. 89bio, Inc. has a 52-week low of $6.57 and a 52-week high of $22.93.

89bio (NASDAQ:ETNB) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.01). Equities research analysts forecast that 89bio, Inc. will post -2.2 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.