Teacher Retirement System of Texas Has $191,000 Holdings in 89bio, Inc. (NASDAQ:ETNB)

Teacher Retirement System of Texas increased its holdings in shares of 89bio, Inc. (NASDAQ:ETNB) by 36.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,442 shares of the company’s stock after acquiring an additional 6,521 shares during the quarter. Teacher Retirement System of Texas’ holdings in 89bio were worth $191,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of ETNB. Intech Investment Management LLC bought a new position in shares of 89bio during the third quarter worth approximately $160,000. Charles Schwab Investment Management Inc. increased its stake in 89bio by 8.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 721,050 shares of the company’s stock worth $5,336,000 after acquiring an additional 53,932 shares during the period. FMR LLC increased its stake in 89bio by 2,153.2% during the 3rd quarter. FMR LLC now owns 73,386 shares of the company’s stock worth $543,000 after acquiring an additional 70,129 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 89bio by 1.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,998 shares of the company’s stock valued at $1,043,000 after acquiring an additional 1,624 shares in the last quarter. Finally, HighVista Strategies LLC bought a new stake in shares of 89bio during the 3rd quarter valued at $494,000.

Insiders Place Their Bets

In related news, Director Charles Mcwherter bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were acquired at an average cost of $6.55 per share, with a total value of $32,750.00. Following the completion of the purchase, the director now directly owns 15,000 shares in the company, valued at $98,250. The trade was a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Quoc Le-Nguyen sold 10,963 shares of 89bio stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $6.49, for a total transaction of $71,149.87. Following the completion of the sale, the insider now directly owns 271,833 shares of the company’s stock, valued at approximately $1,764,196.17. This trade represents a 3.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

ETNB has been the subject of several recent analyst reports. Raymond James raised shares of 89bio to a “strong-buy” rating in a research report on Thursday, December 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $29.00 price target on shares of 89bio in a report on Thursday, January 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of 89bio in a research note on Saturday, March 22nd. Wolfe Research started coverage on 89bio in a research note on Tuesday, February 4th. They set an “outperform” rating for the company. Finally, Citigroup initiated coverage on 89bio in a report on Thursday, March 13th. They issued a “buy” rating and a $25.00 target price on the stock. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $27.56.

89bio Stock Up 5.7 %

Shares of ETNB opened at $7.19 on Thursday. The stock has a fifty day moving average of $9.19 and a 200-day moving average of $8.40. 89bio, Inc. has a 52 week low of $5.99 and a 52 week high of $11.84. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -2.47 and a beta of 1.17. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66.

89bio (NASDAQ:ETNB) last issued 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, sell-side analysts anticipate that 89bio, Inc. will post -3.19 earnings per share for the current fiscal 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.