Are You Interested In Investing In 89bio Inc. (ETNB)? Check This Out First


As of Friday close, 89bio Inc.’s (NASDAQ:ETNB) stock was down -$0.21, moving down -1.66 percent to $12.44. The average number of shares traded per day over the past five days has been 2,235,860 shares. 3 times new highs have been achieved over the past 5 days, with a $0.44 gain in that time frame. In the last twenty days, the average volume was 1,327,485, while in the previous 50 days, it was 1,151,822.

Since last month, ETNB stock retreated -4.31%. Shares of the company fell to $11.17 on 03/10/23, the lowest level in the past month. A 52-week high of $15.50 was reached on 02/08/23 after having rallying from a 52-week low of $2.00. Since the beginning of this year, ETNB’s stock price has dropped by -2.28% or -$0.29, and marked a new high 5 times. However, the stock has declined by -19.74% since its 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 17 days ago on Mar 01. Atkinson Edward Morrow III, the Director of the company, disposed of 10,000 shares for $13.60 on Mar 01. It resulted in a $136,000 divestment by the insider. Martins Ryan sold 2,540 shares at an average price of $13.89 on Feb 21. The insider now owns 58,578 shares following the transaction. On Feb 08, Chief Financial Officer Martins Ryan sold 1,480 shares at $14.41 apiece. The transaction was valued at $21,327.

Financial Health

In the three months ended September 29, 89bio Inc.’s quick ratio stood at 5.80, while its current ratio was 5.80, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 0.09, and the total debt-to-equity ratio was 0.13. Based on annual data, ETNB earned $1.92 million in gross profit and brought in $102.25 million in revenue.

In 89bio Inc.’s quarter-end financial report for September 29, it reported total debt of $19.69 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. While analysts expected 89bio Inc. to report -$0.8 quarterly earnings, the actual figure was -$0.57 per share, beating the consensus estimate by 28.80%. During the quarter, the company generated -$25.61 million in EBITDA. The liabilities of 89bio Inc. were 44.99 million at the end of its most recent quarter ended September 29, and its total debt was $20.02 million. The value of shareholders’ equity is $52.23 million.

Technical Picture

This quick technical analysis looks at 89bio Inc.’s (ETNB) price momentum. With a historical volatility rate of 97.71%, the RSI 9-day stood at 43.05% on 17 March.

With respect to its five-day moving average, the current 89bio Inc. price is up by +3.67% percent or $0.44. At present, ETNB shares trade -8.66% below its 20-day simple moving average and +43.82% percent above its 100-day simple moving average. However, the stock is currently trading approximately +4.54% above its SMA50 and +313.29% above its SMA200.

Stochastic coefficient K was 42.97% and Stochastic coefficient D was 54.41%, while ATR was 1.08. Given the Stochastic reading of 37.46% for the 14-day period, the RSI (14) reading has been calculated as 45.62%. As of today, the MACD Oscillator reading stands at -0.23, while the 14-day reading stands at -0.58.

Analyst Ratings

Raymond James upgraded its rating on 89bio Inc. (NASDAQ: ETNB) to a Strong buy in a note to investors on May 12, 2022. The analysts firm previously had an Outperform rating on the stock.89bio Inc. (ETNB) has been rated Buy by analysts. According to 0 brokerage firms, ETNB is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate 89bio Inc. stock as buy, with 7 recommending it as overweight.

With a median target price of $25.00, the current consensus forecast for the stock is $17.00 – $34.00. Based on these forecasts, analysts predict 89bio Inc. (ETNB) will achieve an average price target of $24.86.


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