89bio Inc. (NASDAQ: ETNB) stock has achieved $12.64 in the past week

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89bio Inc. (NASDAQ:ETNB) saw an upside of 0.98% to $12.41 after adding $0.12 on Tuesday. The 5-day average trading volume is 955,667 shares of the company’s common stock. It has gained $12.64 in the past week and touched a new high 5 times within the past 5 days. An average of 815,122 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 950,935.

ETNB’s 1-month performance is 8.76% or $0.85 on its low of $10.28 reached on 01/13/23. The company’s shares have touched a 52-week low of $2.00 and high of $12.95, with the stock’s rally to the 52-week high happening on 01/03/23. YTD, ETNB has lost -3.46% or -$0.45 and has reached a new high 1 time. However, the current price is down -4.17% from the 52-week high price.

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Insider Transactions

ETNB stock investors last saw insider trading activity on Jan 03. Martins Ryan (Chief Financial Officer) most recently sold 5,947 shares at $12.51 per share on Jan 03. This transaction cost the insider $74,397. Waisbourd Ram, sold 7,000 shares at a price of $5.70 on Feb 01. Then, on Jan 26, 10% Owner ORBIMED ADVISORS LLC sold 21,482 shares at a price of $8.38 per share. This transaction amounted to $180,019.

Valuation Metrics

Moving on to other valuation ratios, the price-to-book (PB) in the most recent quarter is 3.80.

89bio Inc.’s quick ratio for the period ended September 29 was 5.80, with the current ratio over the same period at 5.80. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.09, while the total debt to equity was 0.13. The firm’s gross profit as reported stood at -$0.53 million against revenue of $89.74 million.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -5.67% to -$26.81 million, while revenue of -$25.05 million was 6.56% off the previous quarter. Analysts expected ETNB to announce -$0.8 per share in earnings in its latest quarter, but it posted -$0.57, representing a 28.80% surprise. EBITDA for the quarter stood at more than -$27.26 million. ETNB stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 48.01 million, with total debt at $20.02 million. Shareholders hold equity totaling $46.54 million.

Let’s look briefly at 89bio Inc. (ETNB) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 62.71% to suggest the stock is trending Neutral, with historical volatility in this time period at 63.96%.

The stock’s 5-day moving average is $11.99, reflecting a +13.39% or $1.45 change from its current price. ETNB is currently trading +6.32% above its 20-day SMA, +188.94% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +39.55% and SMA200 by+240.17%.

Stochastic %K and %D was 78.73% and 69.73% and the average true range (ATR) pointed at 0.90. The RSI (14) points at 61.00%, while the 14-day stochastic is at 78.90% with the period’s ATR at 0.91. The stock’s 9-day MACD Oscillator is pointing at 0.90 and 0.93 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for 89bio Inc. (NASDAQ: ETNB), Raymond James upgraded it to a Strong buy rating. They previously had an Outperform rating on the stock. Analysts offering their rating for ETNB stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate ETNB as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 8 have offered a “buy” rating.

What is ETNB’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $12.00 and a high of $34.00, with their median price target at $26.00. Looking at these predictions, the average price target given by analysts is for 89bio Inc. (ETNB) stock is $24.38.

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