89bio Inc. (NASDAQ:ETNB)’s traded shares stood at 1.78 million during the last session, with the company’s beta value hitting 0.76. At the close of trading, the stock’s price was $12.65, to imply a decrease of -1.09% or -$0.14 in intraday trading. The ETNB share’s 52-week high remains $15.50, putting it -22.53% down since that peak but still an impressive 84.19% since price per share fell to its 52-week low of $2.00. The company has a valuation of $680.19M, with an average of 1.17 million shares in intraday trading volume over the past 10 days and average of 1.11 million shares over the past 3 months.
Analysts have given a consensus recommendation of a Buy for 89bio Inc. (ETNB), translating to a mean rating of 1.40. Of 7 analyst(s) looking at the stock, 0 analyst(s) give ETNB a Sell rating. 0 of those analysts rate the stock as Overweight while 0 advise Hold as 7 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.69.
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89bio Inc. (NASDAQ:ETNB) trade information
After registering a -1.09% downside in the last session, 89bio Inc. (ETNB) has traded red over the past five days. The stock hit a weekly high of 14.56 this Thursday, 03/16/23, dropping -1.09% in its intraday price action. The 5-day price performance for the stock is -0.86%, and -6.02% over 30 days. With these gigs, the year-to-date price performance is -0.63%. Short interest in 89bio Inc. (NASDAQ:ETNB) saw shorts transact 4.65 million shares and set a 5.68 days time to cover.
Analysts on Wall Street suggest a consensus price target of $24.86, implying an increase of 49.12% to the stock’s current value. The extremes give us $17.00 and $34.00 for target low and target high price respectively. As such, ETNB has been trading -168.77% off suggested target high and -34.39% from its likely low.
89bio Inc. (ETNB) estimates and forecasts
Looking at statistics comparing 89bio Inc. share performance against respective industry, we note that the company has underperformed competitors. 89bio Inc. (ETNB) shares are 101.43% up over the last 6 months, with its year-to-date growth rate lower than industry average at 6.48% against 9.40%. Revenue is forecast to grow 46.90% this quarter before jumping 51.60% for the next one.
89bio Inc. has its next earnings report out between March 22 and March 27. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. 89bio Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
89bio Inc. (NASDAQ:ETNB)’s Major holders
89bio Inc. insiders hold 0.81% of total outstanding shares, with institutional holders owning 93.86% of the shares at 94.62% float percentage. In total, 93.86% institutions holds shares in the company, led by RA Capital Management, L.P. As of Sep 29, 2022, the company held over 7.78 million shares (or 15.39% of shares), all amounting to roughly $45.06 million.
The next major institution holding the largest number of shares is Orbimed Advisors LLC. with 3.66 million shares, or about 7.24% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $21.18 million.
We also have Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund as the top two Mutual Funds with the largest holdings of the 89bio Inc. (ETNB) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 1.18 million shares. This is just over 2.34% of the total shares, with a market valuation of $6.84 million. Data from the same date shows that the other fund manager holds a little less at 0.44 million, or 0.86% of the shares, all valued at about 2.52 million.