89bio Inc. (NASDAQ:ETNB) currently has a daily average trading volume of 2.22M but it saw 1298324 shares traded on Thursday. With a market cap of 1.20B USD, stock’s current market price of $16.55 came rising about 1.10 while comparing to the previous closing price of $16.37. In past 52 weeks, the stock remained buoying in the range of price level as high as $18.92 and as low as $2.52. In the recent trading on the day, stock has struck highest price mark of $16.77 while lowest mark touched by it was $16.00.
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Taking a look at 20-day trading activity of 89bio Inc. (ETNB) gives us an average price of $17.05, while its current price level is -12.50% below from 52-week high level whereas it is 556.75% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $15.88 while that of 200 days or SMA-200 reads an average of $10.92. A closer look into the stock’s movement over the week reveals that its volatility is standing at 6.19% during that period while stretching the period over a month that increases to 6.23%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 48.86 which implies that the stock is in neutral territory.
89bio Inc. (ETNB)’s stock is currently under the radar of 8 analysts who are in consensus at a 12-month price target range of between $25.00 and $50.00 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $25.00 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $50.00. Average price target assigned by them is $35.13 which highlights an upside potential of 52.89% for the stock over that period. And to attain the median price target of $33.50 assigned by those analysts, stock has to add about 50.6% of value to its current levels.
Data by FactSet Research shows that 8 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 0 are advising it as an Overweight. 8 analysts suggested the investors to Buy the stock while 0 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Buy for the stock and that issued by Wall Street to investors is Strong Buy.
Over the week, ETNB’s stock price is moving -2.13% down while it is 6.71% when we observe its performance for the past one month. Year-to-date it is 30.01% up and over the past year, the stock is showing an upside performance of 495.32%.
The latest quarterly earnings report issued by the company was for quarter ended 3/30/2023, when its quarterly earnings per share (EPS) of -$0.54 beaten by the consensus estimate of -$0.52 for the same. The company is expected to be releasing its next quarterly report in 08/10/2023, for which analysts forecasted an EPS of -$0.41 while estimate for next year EPS is -$1.9. For ETNB, analysts are forecasting an EPS-growth rate of 35.20% for current year and estimate for EPS growth in next year is -31.10%.
Currently, 89bio Inc.’s total number of outstanding shares is 53.17M. Company’s return on equity (ROE) at -50.70%. Stock’s beta reads 0.76. Stock has a price to book (P/B) ratio of 1.97. Its return on asset (ROA) is -40.50% on average.
A filing at the U.S. Securities and Exchange Commission revealed that SPDR S&P Biotech ETF came shrinking its share ownership by 1.78% in the 89bio Inc. (ETNB) increasing its stake to 3.98% with control over 48180.0 shares in the company.
