Northern Trust Corp increased its position in shares of 89bio, Inc. (NASDAQ:ETNB) by 23.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 139,885 shares of the company’s stock after buying an additional 26,486 shares during the period. Northern Trust Corp’s holdings in 89bio were worth $3,409,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also made changes to their positions in the company. California Public Employees Retirement System lifted its stake in 89bio by 35.1% during the third quarter. California Public Employees Retirement System now owns 14,711 shares of the company’s stock worth $377,000 after purchasing an additional 3,825 shares during the period. BlackRock Inc. raised its position in 89bio by 103.6% in the 3rd quarter. BlackRock Inc. now owns 435,686 shares of the company’s stock valued at $11,180,000 after purchasing an additional 221,709 shares during the last quarter. State Street Corp increased its stake in shares of 89bio by 62.0% in the third quarter. State Street Corp now owns 83,960 shares of the company’s stock valued at $2,154,000 after buying an additional 32,126 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in 89bio by 28.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 40,048 shares of the company’s stock worth $1,028,000 after buying an additional 8,762 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in 89bio during the 3rd quarter worth about $713,000. Institutional investors own 80.63% of the company’s stock.
In related news, insider Ram Waisbourd sold 7,000 shares of the company’s stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $24.20, for a total transaction of $169,400.00. Following the completion of the sale, the insider now owns 7,000 shares of the company’s stock, valued at $169,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 18.10% of the stock is owned by insiders.
89bio (NASDAQ:ETNB) last issued its quarterly earnings data on Tuesday, March 23rd. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.24. Equities research analysts anticipate that 89bio, Inc. will post -3.08 earnings per share for the current year.
Several equities analysts have recently issued reports on ETNB shares. Chardan Capital upped their price target on 89bio from $92.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, March 25th. They noted that the move was a valuation call. Oppenheimer restated a “buy” rating and set a $60.00 target price on shares of 89bio in a research report on Thursday, March 18th. SVB Leerink increased their target price on shares of 89bio from $56.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, March 29th. Finally, Zacks Investment Research upgraded 89bio from a “sell” rating to a “hold” rating in a research report on Tuesday, March 9th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $58.13.
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 BIO89-100, a glycoPEGylated analog of fibroblast growth factor 21 for the treatment of nonalcoholic steatohepatitis.
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