89bio Inc (NASDAQ: ETNB)’s stock price has plunge by -1.84relation to previous closing price of 7.60. Nevertheless, the company has seen a 2.05% surge in its stock price over the last five trading sessions. globenewswire.com reported 2024-06-14 that SAN FRANCISCO, June 14, 2024 (GLOBE NEWSWIRE) — 89bio, Inc. (the “Company” or “89bio”) (Nasdaq: ETNB), a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardiometabolic diseases, today announced that the Compensation Committee of the Company’s Board of Directors approved the grant of non-qualified stock options to purchase an aggregate of 25,500 shares of the Company’s common stock to two new employees (the “Inducement Grants”) on June 10, 2024 (the “Grant Date”). The Inducement Grants have been granted pursuant to the Company’s 2023 Inducement Plan (the “Plan”). The Inducement Grants were granted as an inducement material to these individuals entering into employment with 89bio in accordance with Nasdaq Listing Rule 5635(c)(4).
Is It Worth Investing in 89bio Inc (NASDAQ: ETNB) Right Now?
Moreover, the 36-month beta value for ETNB is 1.00. Analysts have varying opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for ETNB is 91.87M and currently, short sellers hold a 9.82% of that float. On July 04, 2024, ETNB’s average trading volume was 986.75K shares.
ETNB’s Market Performance
The stock of 89bio Inc (ETNB) has seen a 2.05% increase in the past week, with a -5.81% drop in the past month, and a -31.37% fall in the past quarter. The volatility ratio for the week is 7.36%, and the volatility levels for the past 30 days are at 7.93% for ETNB. The simple moving average for the last 20 days is -9.84% for ETNB stock, with a simple moving average of -25.66% for the last 200 days.
Analysts’ Opinion of ETNB
Many brokerage firms have already submitted their reports for ETNB stocks, with BofA Securities repeating the rating for ETNB by listing it as a “Buy.” The predicted price for ETNB in the upcoming period, according to BofA Securities is $30 based on the research report published on April 22, 2024 of the current year 2024.
RBC Capital Mkts, on the other hand, stated in their research note that they expect to see ETNB reach a price target of $15, previously predicting the price at $24. The rating they have provided for ETNB stocks is “Sector Perform” according to the report published on January 12th, 2024.
ETNB Trading at -12.47% 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 -62.49% of loss for the given period.
Volatility was left at 7.93%, however, over the last 30 days, the volatility rate increased by 7.36%, as shares sank -9.88% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -19.66% lower at present.
During the last 5 trading sessions, ETNB rose by +2.33%, which changed the moving average for the period of 200-days by -56.91% in comparison to the 20-day moving average, which settled at $8.23. In addition, 89bio Inc saw -33.21% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ETNB starting from PALEKAR ROHAN, who sale 52,718 shares at the price of $10.91 back on Apr 01 ’24. After this action, PALEKAR ROHAN now owns 459,171 shares of 89bio Inc, valued at $575,153 using the latest closing price.
RA CAPITAL MANAGEMENT, L.P., the Director of 89bio Inc, purchase 1,350,000 shares at $15.35 during a trade that took place back on Mar 04 ’24, which means that RA CAPITAL MANAGEMENT, L.P. is holding 12,431,584 shares at $20,722,500 based on the most recent closing price.
Stock Fundamentals for ETNB
Current profitability levels for the company are sitting at:
- -769.05 for the present operating margin
- 0.63 for the gross margin
The net margin for 89bio Inc stands at -705.27. The total capital return value is set at -0.33. Equity return is now at value -34.51, with -30.80 for asset returns.
Based on 89bio Inc (ETNB), the company’s capital structure generated 0.05 points at debt to capital in total, while cash flow to debt ratio is standing at -5.41. The debt to equity ratio resting at 0.05. The interest coverage ratio of the stock is -108.15.
Currently, EBITDA for the company is -150.93 million with net debt to EBITDA at 1.09. When we switch over and look at the enterprise to sales, we see a ratio of 2331.79. The liquidity ratio also appears to be rather interesting for investors as it stands at 15.03.
Conclusion
To wrap up, the performance of 89bio Inc (ETNB) has been bad in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. 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.
