In the last trading session, 1.41 million shares of the 89bio Inc. (NASDAQ:ETNB) were traded, and its beta was 0.76. Most recently the company’s share price was $16.85, and it changed around -$0.47 or -2.71% from the last close, which brings the market valuation of the company to $1.22B. ETNB currently trades at a discount to its 52-week high of $18.88, offering almost -12.05% off that amount. The share price’s 52-week low was $2.52, which indicates that the current value has risen by an impressive 85.04% since then. We note from 89bio Inc.’s average daily trading volume that its 10-day average is 1.05 million shares, with the 3-month average coming to 2.23 million.
89bio Inc. stock received a consensus recommendation rating of a Buy, based on a mean score of 1.40. If we narrow it down even further, the data shows that 0 out of 8 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended ETNB as a Hold, whereas 8 deemed it a Buy, and 0 rated it as Underweight. 89bio Inc. is expected to report earnings per share of -$0.41 for the current quarter.
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89bio Inc. (NASDAQ:ETNB) trade information
Instantly ETNB has showed a red trend with a performance of -2.71% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 18.92 on Tuesday, 05/23/23 increased the stock’s daily price by 10.94%. The company’s shares are currently up 32.36% year-to-date, but still down -4.64% over the last five days. On the other hand, 89bio Inc. (NASDAQ:ETNB) is 7.32% down in the 30-day period. We can see from the shorts that 7.55 million shares have been sold at a short interest cover period of 4.81 day(s).
The consensus price target as assigned by Wall Street analysts is $35.13, which translates to bulls needing to increase their stock price by 52.04% from its current value. Analyst projections state that ETNB is forecast to be at a low of $25.00 and a high of $50.00. In order for the stock price to hit the forecast high, the stock would need to plunge -196.74% from its current level, while the stock would need to crash -48.37% from its current level to reach the projected low.
89bio Inc. (ETNB) estimates and forecasts
89bio Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 97.77 percent over the past six months and at a 34.47% annual growth rate that is well above the industry average of 11.20%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 66.70% in revenue this quarter, and will report an increase of 24.60% in the next quarter.
89bio Inc. earnings are expected to increase by 34.60% in 2023, but the outlook is positive 11.00% per year for the next five years.
89bio Inc.’s next quarterly earnings report is expected to be released around May 09 and May 15.
89bio Inc. (NASDAQ:ETNB)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.64% of 89bio Inc. shares, and 68.78% of them are in the hands of institutional investors. The stock currently has a share float of 69.23%. 89bio Inc. stock is held by 154 institutions, with RA Capital Management, L.P. being the largest institutional investor. By Mar 30, 2023, it held 15.67% of the shares, which is about 11.42 million shares worth $173.88 million.
Janus Henderson Group PLC, with 5.14% or 3.75 million shares worth $57.05 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 1.1 million shares worth $14.04 million, making up 1.51% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 0.41 million shares worth around $5.23 million, which represents about 0.56% of the total shares outstanding.