Nuveen Asset Management LLC Sells 3,420 Shares of 89bio, Inc. (NASDAQ:ETNB)

Nuveen Asset Management LLC trimmed its holdings in shares of 89bio, Inc. (NASDAQ:ETNB) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 286,492 shares of the company’s stock after selling 3,420 shares during the quarter. Nuveen Asset Management LLC’s holdings in 89bio were worth $2,240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 89bio by 2.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,154 shares of the company’s stock worth $400,000 after acquiring an additional 1,169 shares during the last quarter. Victory Capital Management Inc. raised its holdings in 89bio by 11.5% in the 4th 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. New York State Common Retirement Fund lifted its position in 89bio by 24.3% during the fourth quarter. New York State Common Retirement Fund now owns 16,367 shares of the company’s stock valued at $128,000 after purchasing an additional 3,200 shares in the last quarter. Arizona State Retirement System grew its holdings in 89bio by 15.8% during the fourth quarter. Arizona State Retirement System now owns 23,817 shares of the company’s stock valued at $186,000 after purchasing an additional 3,252 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in 89bio by 17.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 26,185 shares of the company’s stock worth $205,000 after buying an additional 3,820 shares in the last quarter.

Wall Street Analysts Forecast Growth

ETNB has been the topic of a number of analyst reports. Citigroup started coverage on 89bio in a research report on Thursday, March 13th. They set a “buy” rating and a $25.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 89bio in a report on Saturday, May 24th. Wolfe Research began coverage on shares of 89bio in a research report on Tuesday, February 4th. They issued an “outperform” rating for the company. The Goldman Sachs Group started coverage on shares of 89bio in a research report on Friday, March 14th. They set a “neutral” rating and a $11.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and set a $21.00 target price (down previously from $29.00) on shares of 89bio in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $26.43.

89bio Trading Up 2.7%

ETNB stock opened at $10.11 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.66 and a quick ratio of 11.66. 89bio, Inc. has a 1-year low of $4.16 and a 1-year high of $11.84. The business has a 50 day simple moving average of $7.46 and a two-hundred day simple moving average of $8.16. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -3.47 and a beta of 1.23.

89bio (NASDAQ:ETNB) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.01. During the same period in the previous year, the business posted ($0.54) EPS. Research analysts anticipate that 89bio, Inc. will post -3.19 EPS for the current fiscal year.

Insider Buying and Selling at 89bio

In related news, insider Quoc Le-Nguyen sold 15,329 shares of the company’s 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 sale, the insider now owns 328,323 shares of the company’s stock, valued at $1,953,521.85. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is currently owned by company insiders.

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.