University of Wisconsin Foundation Has $7.17 Million Holdings in 89bio, Inc. (NASDAQ:ETNB)

University of Wisconsin Foundation boosted its holdings in 89bio, Inc. (NASDAQ:ETNB - Free Report) by 26.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 917,357 shares of the company's stock after buying an additional 193,225 shares during the period. 89bio makes up about 5.2% of University of Wisconsin Foundation's investment portfolio, making the stock its 7th biggest position. University of Wisconsin Foundation owned approximately 0.86% of 89bio worth $7,174,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ETNB. Federated Hermes Inc. increased its stake in 89bio by 206.9% in the fourth quarter. Federated Hermes Inc. now owns 6,283 shares of the company's stock valued at $49,000 after purchasing an additional 4,236 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in 89bio in the fourth quarter valued at about $86,000. Victory Capital Management Inc. raised its position in shares of 89bio by 11.5% during the fourth quarter. Victory Capital Management Inc. now owns 13,969 shares of the company's stock worth $109,000 after purchasing an additional 1,437 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of 89bio in the 4th quarter valued at approximately $114,000. Finally, New York State Common Retirement Fund lifted its stake in 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.

Insider Buying and Selling

In related news, insider Quoc Le-Nguyen sold 15,329 shares of 89bio stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $5.95, for a total transaction of $91,207.55. Following the completion of the transaction, the insider now owns 328,323 shares of the company's stock, valued at $1,953,521.85. This trade represents a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles Mcwherter purchased 5,000 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were purchased at an average cost of $6.55 per share, for a total transaction of $32,750.00. Following the transaction, the director now directly owns 15,000 shares of the company's stock, valued at approximately $98,250. The trade was a 50.00 % increase in their position. The disclosure for this purchase can be found here. 2.80% of the stock is currently owned by insiders.

89bio Price Performance

Shares of NASDAQ ETNB traded up $0.17 during mid-day trading on Friday, hitting $6.06. 1,019,996 shares of the stock traded hands, compared to its average volume of 1,307,820. The company has a market cap of $884.66 million, a PE ratio of -2.08 and a beta of 1.25. 89bio, Inc. has a twelve month low of $4.16 and a twelve month 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 firm has a 50 day simple moving average of $8.15 and a two-hundred day simple moving average of $8.19.

89bio (NASDAQ:ETNB - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.42). As a group, equities research analysts forecast that 89bio, Inc. will post -3.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ETNB shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $29.00 price objective on shares of 89bio in a research note on Thursday, January 2nd. The Goldman Sachs Group began coverage on shares of 89bio in a research report on Friday, March 14th. They issued a "neutral" rating and a $11.00 price objective for the company. UBS Group upped their target price 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 began coverage on 89bio in a report on Thursday, March 13th. They set a "buy" rating and a $25.00 price target for the company. Finally, HC Wainwright restated a "buy" rating and issued a $21.00 price objective (down previously from $29.00) on shares of 89bio in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, 89bio has a consensus rating of "Moderate Buy" and a consensus target price of $27.56.

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.