89bio Inc (ETNB) Testing Investors’ Patience Right Now

Currently, there are 117.58M common shares owned by the public and among those 112.64M shares have been available to trade.

The company’s stock has a 5-day price change of 42.63% and 15.24% over the past three months. ETNB shares are trading 15.09% year to date (YTD), with the 12-month market performance down to -12.11% lower. It has a 12-month low price of $5.99 and touched a high of $16.63 over the same period. ETNB has an average intraday trading volume of 1.08 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 24.86%, 14.70%, and 8.11% respectively.

Institutional ownership of 89bio Inc (NASDAQ: ETNB) shares accounts for 92.61% of the company’s 117.58M shares outstanding.

It has a market capitalization of $1.06B and a beta (3y monthly) value of 1.03. The earnings-per-share (ttm) stands at -$2.91. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.35% over the week and 7.07% over the month.

Earnings per share for the fiscal year are expected to decrease by -63.25%, and 16.08% over the next financial year. EPS should shrink at an annualized rate of -11.90% over the next five years, compared to -11.24% over the past 5-year period.

Looking at the support for the ETNB, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on April 22, 2024, with the firm’s price target at $30. RBC Capital Mkts coverage for the 89bio Inc (ETNB) stock in a research note released on January 12, 2024 offered a Sector Perform rating with a price target of $15. Oppenheimer was of a view on October 10, 2023 that the stock is Perform, while UBS gave the stock Buy rating on August 28, 2023, issuing a price target of $36. Evercore ISI on their part issued Outperform rating on June 13, 2023.

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