During the last session, 89bio Inc (NASDAQ:ETNB)’s traded shares were 0.39 million, with the beta value of the company hitting 1.02. At the end of the trading day, the stock’s price was $7.80, reflecting an intraday loss of -2.38% or -$0.19. The 52-week high for the ETNB share is $18.30, that puts it down -134.62 from that peak though still a striking 15.77% gain since the share price plummeted to a 52-week low of $6.57. The company’s market capitalization is $826.10M, and the average intraday trading volume over the past 10 days was 0.66 million shares, and the average trade volume was 1.00 million shares over the past three months.
89bio Inc (ETNB) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.44. ETNB has a Sell rating from 0 analyst(s) out of 8 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 7 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -0.63.
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89bio Inc (NASDAQ:ETNB) trade information
89bio Inc (ETNB) registered a -2.38% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -2.38% in intraday trading to $7.80, hitting a weekly high. The stock’s 5-day price performance is -12.46%, and it has moved by -11.06% in 30 days. Based on these gigs, the overall price performance for the year is -50.91%. The short interest in 89bio Inc (NASDAQ:ETNB) is 6.16 million shares and it means that shorts have 4.64 day(s) to cover.
The consensus price target of analysts on Wall Street is $25, which implies an increase of 68.8% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $12 and $29 respectively. As a result, ETNB is trading at a discount of -271.79% off the target high and -53.85% off the low.
89bio Inc (ETNB) estimates and forecasts
Statistics show that 89bio Inc has underperformed its competitors in share price, compared to the industry in which it operates. 89bio Inc (ETNB) shares have gone down -7.69% during the last six months, with a year-to-date growth rate less than the industry average at -16.00% against 16.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -40.00% this quarter and then drop -16.00% in the quarter after that.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 540k as predicted by 7 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to 540k by the end of current fiscal year.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -11.24%. While earnings are projected to return -11.50% in 2024, the next five years will return 11.00% per annum.
ETNB Dividends
89bio Inc is due to release its next quarterly earnings 2024-Nov-06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
89bio Inc (NASDAQ:ETNB)’s Major holders
89bio Inc insiders own 0.66% of total outstanding shares while institutional holders control 99.34%, with the float percentage being 100.00%. RA CAPITAL MANAGEMENT, L.P. is the largest shareholder of the company, while 217.0 institutions own stock in it. As of 2024-03-31, the company held over 12.77 million shares (or 13.3202% of all shares), a total value of $148.61 million in shares.
The next largest institutional holding, with 12.6 million shares, is of JANUS HENDERSON GROUP PLC’s that is approximately 13.1495% of outstanding shares. At the market price on 2024-03-31, these shares were valued at $146.65 million.
Also, the Mutual Funds coming in first place with the largest holdings of 89bio Inc (ETNB) shares are Janus Henderson Global Life Sciences Fund and Vanguard Total Stock Market Index Fund . Data provided on Mar 31, 2024 indicates that Janus Henderson Global Life Sciences Fund owns about 2.94 shares. This amounts to just over 2.99 percent of the company’s overall shares, with a $22.91 million market value. The same data shows that the other fund manager holds slightly less at 2.42, or about 2.46% of the stock, which is worth about $18.89 million.
