89bio Inc (NASDAQ: ETNB) is -34.11% lower on its value in year-to-date trading and has touched a low of $6.57 and a high of $16.63 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 $7.42 in the last trading session, with the day’s loss setting it -0.06%.
Currently trading at $7.36, the stock is -12.28% and -13.48% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.0 million and changing -0.81% at the moment leaves the stock -23.07% off its SMA200. ETNB registered -53.06% loss for a year compared to 6-month loss of -34.92%. The firm has a 50-day simple moving average (SMA 50) of $8.4807 and a 200-day simple moving average (SMA200) of $9.554425.
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The stock witnessed a -19.47% gain in the last 1 month and extending the period to 3 months gives it a -2.39%, and is -11.22% 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 6.14% over the week and 6.09% over the month.
89bio Inc (ETNB) has around 70 employees, a market worth around $779.50M and $0.00M in sales. Distance from 52-week low is 11.94% and -55.74% from its 52-week high. The company has generated returns on investments over the last 12 months (-32.53%).
The EPS is expected to shrink by -11.14% this year
214.0 institutions hold shares in 89bio Inc (ETNB), with institutional investors hold 102.74% of the company’s shares. The shares outstanding are 105.91M, and float is at 99.24M with Short Float at 7.00%. Institutions hold 102.05% of the Float.
The top institutional shareholder in the company is RA CAPITAL MANAGEMENT, L.P. with over 14.18 million shares valued at $113.54 million. The investor’s holdings represent 14.1994 of the ETNB Shares outstanding. As of 2024-06-30, the second largest holder is JANUS HENDERSON GROUP PLC with 13.28 million shares valued at $106.32 million to account for 13.2986 of the shares outstanding. The other top investors are SUVRETTA CAPITAL MANAGEMENT, LLC which holds 8.03 million shares representing 8.0454 and valued at over $64.34 million, while BVF INC/IL holds 7.5813 of the shares totaling 7.57 million with a market value of $60.62 million.
89bio Inc (ETNB) Insider Activity
The most recent transaction is an insider sale by PALEKAR ROHAN, the company’s Chief Executive Officer. SEC filings show that PALEKAR ROHAN sold 52,718 shares of the company’s common stock on Apr 01 ’24 at a price of $10.91 per share for a total of $0.58 million. Following the sale, the insider now owns 0.46 million shares.
89bio Inc disclosed in a document filed with the SEC on Mar 04 ’24 that RA CAPITAL MANAGEMENT, L.P. (Director) bought a total of 1,350,000 shares of the company’s common stock. The trade occurred on Mar 04 ’24 and was made at $15.35 per share for $20.72 million. Following the transaction, the insider now directly holds 12.43 million shares of the ETNB stock.
Still, SEC filings show that on Feb 26 ’24, PALEKAR ROHAN (Chief Executive Officer) disposed off 4,477 shares at an average price of $10.76 for $48173.0. The insider now directly holds 486,889 shares of 89bio Inc (ETNB).
