As of Friday close, 89bio Inc.’s (NASDAQ:ETNB) stock was up $0.79, moving up 5.11 percent to $16.25. The average number of shares traded per day over the past five days has been 720,560 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.38 fall in that time frame. In the last twenty days, the average volume was 958,435, while in the previous 50 days, it was 1,307,300.
Since last month, ETNB stock retreated -7.46%. Shares of the company fell to $14.44 on 08/10/23, the lowest level in the past month. A 52-week high of $22.93 was reached on 06/13/23 after having rallying from a 52-week low of $4.15. Since the beginning of this year, ETNB’s stock price has risen by 27.65% or $3.52, and marked a new high 18 times. However, the stock has declined by -29.13% 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 33 days ago on Jul 17. LAPORTE KATHLEEN, the Director of the company, disposed of 12,500 shares for $18.80 on Jul 17. It resulted in a $235,000 divestment by the insider. PALEKAR ROHAN sold 15,000 shares at an average price of $20.00 on Jun 05. The insider now owns 286,978 shares following the transaction. On Jun 01, Director Atkinson Edward Morrow III sold 6,250 shares at $17.91 apiece. The transaction was valued at $111,938.
Financial Health
In the three months ended June 29, 89bio Inc.’s quick ratio stood at 19.00, while its current ratio was 19.00, 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 June 29 was 0.06, and the total debt-to-equity ratio was 0.06. 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 June 29, it reported total debt of $24.48 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected 89bio Inc. to report -$0.41 quarterly earnings, the actual figure was -$0.52 per share, beating the consensus estimate by -26.80%. During the quarter, the company generated -$43.13 million in EBITDA. The liabilities of 89bio Inc. were 50.52 million at the end of its most recent quarter ended June 29, and its total debt was $24.75 million. The value of shareholders’ equity is $75.48 million.
Technical Picture
This quick technical analysis looks at 89bio Inc.’s (ETNB) price momentum. With a historical volatility rate of 49.35%, the RSI 9-day stood at 49.59% on 18 August.
With respect to its five-day moving average, the current 89bio Inc. price is down by -2.29% percent or -$0.38. At present, ETNB shares trade -6.77% below its 20-day simple moving average and -0.61% percent below its 100-day simple moving average. However, the stock is currently trading approximately -19.39% below its SMA50 and +70.16% above its SMA200.
Stochastic coefficient K was 62.46% and Stochastic coefficient D was 71.38%, while ATR was 0.96. Given the Stochastic reading of 76.05% for the 14-day period, the RSI (14) reading has been calculated as 47.04%. As of today, the MACD Oscillator reading stands at -0.22, while the 14-day reading stands at -0.12.
Analyst Ratings
Evercore ISI launched its rating on 89bio Inc. (NASDAQ: ETNB) to an Outperform in a note to investors on June 13, 2023. 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 9 recommending it as overweight.
With a median target price of $35.00, the current consensus forecast for the stock is $25.00 – $50.00. Based on these forecasts, analysts predict 89bio Inc. (ETNB) will achieve an average price target of $37.00.
