89bio, Inc. (NASDAQ:ETNB) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 89bio, Inc. (NASDAQ:ETNB) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 140,998 shares of the company’s stock after buying an additional 1,624 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.13% of 89bio worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its stake in shares of 89bio by 12.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,355 shares of the company’s stock valued at $251,000 after acquiring an additional 3,557 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of 89bio by 21.4% in the 3rd quarter. SG Americas Securities LLC now owns 30,713 shares of the company’s stock valued at $227,000 after purchasing an additional 5,421 shares during the last quarter. Quest Partners LLC grew its stake in shares of 89bio by 226.2% during the 2nd quarter. Quest Partners LLC now owns 8,113 shares of the company’s stock valued at $65,000 after buying an additional 5,626 shares during the period. Algert Global LLC increased its holdings in shares of 89bio by 30.8% during the 2nd quarter. Algert Global LLC now owns 30,587 shares of the company’s stock worth $245,000 after buying an additional 7,203 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of 89bio during the 2nd quarter worth $66,000.

89bio Trading Down 4.6 %

Shares of ETNB opened at $7.61 on Thursday. 89bio, Inc. has a one year low of $7.00 and a one year high of $16.63. The stock has a 50-day moving average price of $8.45 and a 200 day moving average price of $8.36. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. The company has a market capitalization of $807.62 million, a P/E ratio of -2.62 and a beta of 1.12.

Insider Buying and Selling at 89bio

In other news, Director Charles Mcwherter acquired 10,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was purchased at an average cost of $8.00 per share, with a total value of $80,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $80,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Rohan Palekar purchased 5,000 shares of 89bio stock in a transaction dated Friday, December 6th. The shares were purchased at an average cost of $7.89 per share, with a total value of $39,450.00. Following the acquisition, the chief executive officer now owns 471,236 shares of the company’s stock, valued at approximately $3,718,052.04. This trade represents a 1.07 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 25,000 shares of company stock valued at $202,950 in the last three months. Corporate insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

ETNB has been the subject of a number of research reports. Raymond James raised 89bio to a “strong-buy” rating in a research report on Thursday, December 12th. Cantor Fitzgerald reiterated an “overweight” rating and set a $29.00 target price on shares of 89bio in a report on Friday, September 20th. Finally, HC Wainwright reissued a “buy” rating and set a $29.00 price target on shares of 89bio in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, 89bio has an average rating of “Moderate Buy” and a consensus target price of $30.33.

About 89bio

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.