In the last trading session, 2.06 million shares of the 89bio Inc (NASDAQ:ETNB) were traded, and its beta was 0.98. Most recently the company’s share price was $7.97, and it changed around $0.04 or 0.57% from the last close, which brings the market valuation of the company to $849.84M. ETNB currently trades at a discount to its 52-week high of $16.63, offering almost -108.66% off that amount. The share price’s 52-week low was $7.00, which indicates that the current value has risen by an impressive 12.17% since then. We note from 89bio Inc’s average daily trading volume that its 10-day average is 1.25 million shares, with the 3-month average coming to 652.46K.
89bio Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.50. If we narrow it down even further, the data shows that 0 out of 11 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 2 recommended ETNB as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. 89bio Inc is expected to report earnings per share of -0.73 for the current quarter.
89bio Inc (NASDAQ:ETNB) trade information
Instantly ETNB has showed a green trend with a performance of 0.57% 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 10.01 on recent trading dayincreased the stock’s daily price by 20.38%. The company’s shares are currently down -28.60% year-to-date, but still down -20.65% over the last five days. On the other hand, 89bio Inc (NASDAQ:ETNB) is -4.49% down in the 30-day period. We can see from the shorts that 5.38 million shares have been sold at a short interest cover period of 10.28 day(s).
The consensus price target as assigned by Wall Street analysts is $25, which translates to bulls needing to increase their stock price by 68.12% from its current value. Analyst projections state that ETNB is forecast to be at a low of $12 and a high of $29.
89bio Inc (ETNB) estimates and forecasts
89bio Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -10.79 percent over the past six months and at a -61.00% annual growth rate that is well below the industry average of 17.50%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -46.91% in revenue this quarter, and will report a decrease of -24.29% in the next quarter.
Forecasts for the next quarter put sales growth at �.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -11.24%. 89bio Inc earnings are expected to increase by -58.84% in 2024, but the outlook is positive 11.00% per year for the next five years.
ETNB Dividends
89bio Inc’s next quarterly earnings report is expected to be released on 2025-Feb-26.
89bio Inc (NASDAQ:ETNB)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.58% of 89bio Inc shares, and 94.01% of them are in the hands of institutional investors. The stock currently has a share float of 94.55%. 89bio Inc stock is held by 217.0 institutions, with RA CAPITAL MANAGEMENT, L.P. being the largest institutional investor. By 2024-06-30, it held 14.1994% of the shares, which is about 14.18 million shares worth $113.54 million.
JANUS HENDERSON GROUP PLC, with 13.2986% or 13.28 million shares worth $106.32 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
