89bio Inc (NASDAQ:ETNB)’s traded shares stood at 0.45 million during the last session, with the company’s beta value hitting 0.99. At the close of trading, the stock’s price was $7.19, to imply an increase of 0.42% or $0.03 in intraday trading. The ETNB share’s 52-week high remains $16.63, putting it -131.29% down since that peak but still an impressive 8.62% since price per share fell to its 52-week low of $6.57. The company has a valuation of $761.49M, with an average of 0.8 million shares in intraday trading volume over the past 10 days and average of 627.60K shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for 89bio Inc (ETNB), translating to a mean rating of 1.57. Of 8 analyst(s) looking at the stock, 0 analyst(s) give ETNB a Sell rating. 1 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 -0.64.
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89bio Inc (NASDAQ:ETNB) trade information
After registering a 0.42% upside in the last session, 89bio Inc (ETNB) has traded red over the past five days. The 5-day price performance for the stock is -0.90%, and -15.91% over 30 days. With these gigs, the year-to-date price performance is -35.63%. Short interest in 89bio Inc (NASDAQ:ETNB) saw shorts transact 6.94 million shares and set a 15.37 days time to cover.
The extremes give us $12 and $29 for target low and target high price respectively. As such, ETNB has been trading -303.34% off suggested target high and -66.9% 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 -33.18% down over the last 6 months, with its year-to-date growth rate lower than industry average at -16.00% against 17.60%. Revenue is forecast to shrink -42.20% this quarter before falling -18.00% for the next one.
Revenue forecast for the current quarter as set by 7 analysts is 540k. Meanwhile, for the current quarter, a total of 7 analyst(s) estimate revenue growth to 540k.
An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -11.24% for the past 5-year period. While 2024 is set for a -11.14% return in earnings, projections for the next 5 years are at 11.00% annually.
ETNB Dividends
89bio Inc has its next earnings report out on 2024-Nov-06. 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 (NASDAQ:ETNB)’s Major holders
89bio Inc insiders hold 0.67% of total outstanding shares, with institutional holders owning 100.84% of the shares at 101.53% float percentage. In total, 100.84% institutions holds shares in the company, led by RA CAPITAL MANAGEMENT, L.P.. As of 2024-06-30, the company held over 14.18 million shares (or 14.1994% of shares), all amounting to roughly $113.54 million.
The next major institution holding the largest number of shares is JANUS HENDERSON GROUP PLC with 13.28 million shares, or about 13.2986% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $106.32 million.
