89bio Inc. (NASDAQ: ETNB)’s stock price has decreased by -9.29 compared to its previous closing price of 14.10. but the company has seen a -4.05% decline in its stock price over the last five trading sessions.
Is It Worth Investing in 89bio Inc. (NASDAQ: ETNB) Right Now?
compared to its average ratio and a 36-month beta value of 0.76. Analysts have mixed views on the stock, with 7 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The average price point forecasted by analysts for 89bio Inc. (ETNB) is $24.86, which is $12.33 above the current market price. The public float for ETNB is 46.17M, and currently, short sellers hold a 11.15% ratio of that float. The average trading volume of ETNB on March 16, 2023 was 1.12M shares.
ETNB’s Market Performance
The stock of 89bio Inc. (ETNB) has seen a -4.05% decrease in the past week, with a -6.85% drop in the past month, and a 52.26% gain in the past quarter. The volatility ratio for the week is 12.34%, and the volatility levels for the past 30 days are at 7.53% for ETNB. The simple moving average for the last 20 days is -4.72% for ETNB stock, with a simple moving average of 65.02% for the last 200 days.
Analysts’ Opinion of ETNB
Many brokerage firms have already submitted their reports for ETNB stocks, with Raymond James repeating the rating for ETNB by listing it as a “Strong Buy.” The predicted price for ETNB in the upcoming period, according to Raymond James is $12 based on the research report published on May 12th of the previous year 2022.
H.C. Wainwright, on the other hand, stated in their research note that they expect to see ETNB reach a price target of $46. The rating they have provided for ETNB stocks is “Buy” according to the report published on December 20th, 2021.
Cantor Fitzgerald gave a rating of “Overweight” to ETNB, setting the target price at $49 in the report published on October 26th of the previous year.
ETNB Trading at 0.75% from the 50-Day Moving Average
After a stumble in the market that brought ETNB to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -17.48% of loss for the given period.
Volatility was left at 7.53%, however, over the last 30 days, the volatility rate increased by 12.34%, as shares sank -4.98% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +0.47% upper at present.
During the last 5 trading sessions, ETNB fell by -4.05%, which changed the moving average for the period of 200-days by +356.79% in comparison to the 20-day moving average, which settled at $13.39. In addition, 89bio Inc. saw 0.47% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ETNB starting from Atkinson Edward Morrow III, who sale 10,000 shares at the price of $13.60 back on Mar 01. After this action, Atkinson Edward Morrow III now owns 0 shares of 89bio Inc., valued at $136,000 using the latest closing price.
Martins Ryan, the Chief Financial Officer of 89bio Inc., sale 2,540 shares at $13.89 during a trade that took place back on Feb 21, which means that Martins Ryan is holding 58,578 shares at $35,281 based on the most recent closing price.
Stock Fundamentals for ETNB
Equity return is now at value -91.20, with -65.10 for asset returns.
Conclusion
To put it simply, 89bio Inc. (ETNB) has had a mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
