In the latest trading session, 1.61 million 89bio Inc (NASDAQ:ETNB) shares changed hands as the company’s beta touched 1.34. With the company’s most recent per share price at $9.65 changing hands around $0.36 or 3.88% at last look, the market valuation stands at $1.34B. ETNB’s current price is a discount, trading about -72.33% off its 52-week high of $16.63. The share price had its 52-week low at $5.99, which suggests the last value was 37.93% up since then. When we look at 89bio Inc’s average trading volume, we note the 10-day average is 5.84 million shares, with the 3-month average coming to 1.89 million.
Analysts gave the 89bio Inc (ETNB) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.22. If we narrow down to specifics, the data shows that 0 out of 8 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 0 recommended ETNB as a Hold, 7 felt it is a Buy and 0 rated the stock as Underweight. 89bio Inc’s EPS for the current quarter is expected to be -0.76.
89bio Inc (NASDAQ:ETNB) trade information
Instantly ETNB is in green as seen in intraday trades today. With action 7.10%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 23.40%, with the 5-day performance at 7.10% in the green. However, in the 30-day time frame, 89bio Inc (NASDAQ:ETNB) is 20.93% up. Looking at the short shares, we see there were 8.35 million shares sold at short interest cover period of 6.81 days.
The consensus price target for the stock as assigned by Wall Street analysts is 12, meaning bulls need an upside of 19.58% from its recent market value. According to analyst projections, ETNB’s forecast low is 12 with 12 as the target high. To hit the forecast high, the stock’s price needs a -24.35% plunge from its current level, while the stock would need to soar -24.35% for it to hit the projected low.
89bio Inc (ETNB) estimates and forecasts
Data shows that the 89bio Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 8.31% over the past 6 months, a -60.50% in annual growth rate that is considerably lower than the industry average of 15.90%.
According to analysts, the company will likely register a growth in its current quarter sales, forecast at 0.00%. The estimates for the next quarter sales put growth at 0.00%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -11.24%. The 2025 estimates are for 89bio Inc earnings to decrease by -59.99%, but the outlook for the next 5-year period is at -10.60% per year.
ETNB Dividends
89bio Inc is expected to release its next quarterly earnings report in March.
89bio Inc (NASDAQ:ETNB)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.66% of 89bio Inc shares while 86.77% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 87.35%. There are 86.77% institutions holding the 89bio Inc stock share, with RA CAPITAL MANAGEMENT, L.P. the top institutional holder. As of 2024-06-30, the company held 14.1994% of the shares, roughly 14.18 million ETNB shares worth $113.54 million.
JANUS HENDERSON GROUP PLC holds the second largest percentage of outstanding shares, with 13.2986% or 13.28 million shares worth $106.32 million as of 2024-06-30.
Among Mutual Funds, the top two as of Sep 30, 2024 were Janus Henderson Global Life Sciences Fund and Vanguard Total Stock Market Index Fund. With 2.97 shares estimated at $28.69 million under it, the former controlled 2.79% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.49% of the shares, roughly 2.65 shares worth around $25.6 million.
