89bio Inc (NASDAQ:ETNB) has a beta value of 0.95 and has seen 1.35 million shares traded in the last trading session. The company, currently valued at $1.18B, closed the last trade at $12.60 per share which meant it lost -$0.92 on the day or -6.80% during that session. The ETNB stock price is -81.98% off its 52-week high price of $22.93 and 47.86% above the 52-week low of $6.57. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.74 million shares traded. The 3-month trading volume is 1.38 million shares.
89bio Inc (NASDAQ:ETNB) trade information
Sporting -6.80% in the red in last session, the stock has traded in the red over the last five days, when the ETNB stock price touched $12.60 or saw a rise of 8.1%. Year-to-date, 89bio Inc shares have moved 12.80%, while the 5-day performance has seen it change -2.25%. Over the past 30 days, the shares of 89bio Inc (NASDAQ:ETNB) have changed 28.70%. Short interest in the company has seen 10.86 million shares shorted with days to cover at 7.98.
89bio Inc (ETNB) estimates and forecasts
Figures show that 89bio Inc shares have underperformed across the wider relevant industry. The company’s shares have lost -27.42% over the past 6 months, with this year growth rate of -10.00%, compared to 13.60% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are 14.80% and 1.90% for the next quarter.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -11.24% over the past 5 years. Earnings growth for 2024 is a modest -2.97% while over the next 5 years, the company’s earnings are expected to increase by 11.00%.
ETNB Dividends
89bio Inc is expected to release its next earnings report between May 02 and May 06 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
89bio Inc (NASDAQ:ETNB)’s Major holders
Insiders own 0.89% of the company shares, while shares held by institutions stand at 106.23% with a share float percentage of 107.18%. Investors are also buoyed by the number of investors in a company, with 89bio Inc having a total of 211 institutions that hold shares in the company. The top two institutional holders are RA Capital Management, L.P. with over 11.42 million shares worth more than $216.35 million. As of Jun 29, 2023, RA Capital Management, L.P. held 15.13% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 4.65 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $88.12 million and represent 6.16% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. As of Aug 30, 2023, the former fund manager holds about 4.49% shares in the company for having 3.39 million shares of worth $58.03 million while later fund manager owns 1.82 million shares of worth $34.42 million as of Jun 29, 2023, which makes it owner of about 2.41% of company’s outstanding stock.
