89bio Inc. (NASDAQ:ETNB) finished Friday with an addition of $0.23 to close at $12.73, an upside of 1.84 percent. An average of 702,320 shares of common stock have been traded in the last five days. There was a gain of $1.18 in the past week, and it reached a new high 2 times over the past 12 months. The last 20 days have seen an average of 1,294,140 shares traded, while the 50-day average volume stands at 890,186.
ETNB stock has increased by 59.12% in the last month. The company shares reached their 1-month lowest point of $7.01 on 12/19/22. With the stock rallying to its 52-week high on 01/03/22, shares of the company touched a low of $2.00 and a high of $15.07 in 52 weeks. It has reached a new high 1 time so far this year and lost -2.60% or -$0.34 in price. In spite of this, the price is down -15.53% from the 52-week high.
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ETNB stock investors should be aware that 89bio Inc. (ETNB) stock had its last reported insider trading activity 333 days ago on Oct 18. In this transaction, the insider spent $39,900. 10% Owner, ORBIMED ADVISORS LLC, disposed of 21,482 shares at a price of $8.38 on Jan 26. The insider now owns more than $180,019 worth of shares. Prior to that, 10% Owner ORBIMED ADVISORS LLC went on to Sale 49,091 shares at $8.40 each on Jan 25. An amount of $412,364 was transacted.
The quick ratio of 89bio Inc. for the three months ended September 29 was 5.80, and the current ratio was 5.80, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.09 and a total debt to equity ratio of 0.13 for the quarter ending September 29. Its gross profit as reported stood at -$0.53 million compared to revenue of $89.74 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, 89bio Inc.’s return on assets was -64.20%.
For the three-month period that ended September 29, 89bio Inc. had $12.96 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$26.81 million in the quarter, while revenues were shrunk -5.67%. The analyst consensus anticipated 89bio Inc.’s latest quarter earnings to come in at -$0.8 per share, but it turned out to be -$0.57, a 28.80% surprise. For the quarter, EBITDA amounted to -$27.26 million. Shareholders own equity worth $46.54 million.
From a technical analysis perspective, let’s take a brief look at 89bio Inc. (ETNB) price momentum. RSI 9-day as of the close on 30 December was 77.27%, suggesting the stock is Overbought, with historical volatility in this time frame at 88.83%.
As of today, ETNB’s price is $11.91 +10.22% or $1.18 from its 5-day moving average. ETNB is currently trading +54.12% higher than its 20-day SMA and +205.28% higher than its 100-day SMA. However, the stock’s current price level is +48.89% above the SMA50 and +230.65% above the SMA200.
The stochastic %K and %D were 98.02% and 93.03%, respectively, and the average true range (ATR) was 0.92. With the 14-day stochastic at 98.96% and the average true range at 0.88, the RSI (14) stands at 73.50%. The stock has reached 0.79 on the 9-day MACD Oscillator while the 14-day reading was at 1.43.
Raymond James upgraded 89bio Inc. (NASDAQ: ETNB) to a a Strong buy rating in its most recent analyst report. Previously, the stock was rated as an Outperform. The consensus rating for 89bio Inc. (ETNB) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ETNB, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 8 others rate it as a “buy”.
What is ETNB’s price target for the next 12 months?
Analysts predict a range of price targets between $11.00 and $34.00, with a median target of $26.00. Taking a look at these predictions, the average price target given by analysts for 89bio Inc. (ETNB) stock is $23.88.