89bio Inc (ETNB) Stock Could Soon Reward Patient Investors

89bio Inc (NASDAQ: ETNB) is -16.03% lower on its value in year-to-date trading and has touched a low of $6.57 and a high of $22.93 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ETNB stock was last observed hovering at around $8.45 in the last trading session, with the day’s gains setting it 0.93%.

Currently trading at $9.38, the stock is -7.27% and -9.21% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.61 million and changing 11.01% at the moment leaves the stock -32.29% off its SMA200. ETNB registered -36.19% loss for a year compared to 6-month loss of -43.60%. The firm has a 200-day simple moving average (SMA200) of -$3.69.

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The stock witnessed a -16.03% gain in the last 1 month and extending the period to 3 months gives it a 22.77%, and is -4.29% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 8.47% over the week and 6.22% over the month.

Distance from 52-week low is 42.66% and -59.09% from its 52-week high. The company has generated returns on investments over the last 12 months (-29.10%).

89bio Inc quarterly earnings per share for the current quarter are estimated at -$0.49.The EPS is expected to grow by 30.62% this year.

89bio Inc (ETNB) Top Institutional Holders

214 institutions hold shares in 89bio Inc (ETNB), with institutional investors hold 86.09% of the company’s shares. The shares outstanding are 90.77M, and float is at 86.18M with Short Float at 11.17%. Institutions hold 85.59% of the Float.

The top institutional shareholder in the company is RA Capital Management, L.P. with over 11.42 million shares valued at $216.35 million. The investor’s holdings represent 15.13% of the ETNB Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 4.65 million shares valued at $88.12 million to account for 6.16% of the shares outstanding. The other top investors are State Street Corporation which holds 4.64 million shares representing 6.15% and valued at over $87.99 million, while Janus Henderson Group PLC holds 5.46% of the shares totaling 4.12 million with a market value of $78.07 million.

89bio Inc (ETNB) Insider Activity

A total of 6 insider transactions have happened at 89bio Inc (ETNB) in the last six months, with sales accounting for 6 and purchases happening 0 times. The most recent transaction is an insider sale by PALEKAR ROHAN,the company’sChief Executive Officer. SEC filings show that PALEKAR ROHAN sold 50,000 shares of the company’s common stock on Dec 29 at a price of $11.20 per share for a total of $0.56 million. Following the sale, the insider now owns 0.3 million shares.

89bio Inc disclosed in a document filed with the SEC on Jul 17 that LAPORTE KATHLEEN (Director) sold a total of 12,500 shares of the company’s common stock. The trade occurred on Jul 17 and was made at $18.80 per share for $0.23 million. Following the transaction, the insider now directly holds 0.0 shares of the ETNB stock.

Still, SEC filings show that on Jun 05, PALEKAR ROHAN (Chief Executive Officer) disposed off 15,000 shares at an average price of $20.00 for $0.3 million. The insider now directly holds 286,978 shares of 89bio Inc (ETNB).