In the last trading session, 1.4 million shares of the 89bio Inc (NASDAQ:ETNB) were traded, and its beta was 1.33. Most recently the company’s share price was $11.18, and it changed around $0.2 or 1.82% from the last close, which brings the market valuation of the company to $1.63B. ETNB currently trades at a discount to its 52-week high of $16.63, offering almost -48.75% off that amount. The share price’s 52-week low was $5.99, which indicates that the current value has risen by an impressive 46.42% since then. We note from 89bio Inc’s average daily trading volume that its 10-day average is 4.08 million shares, with the 3-month average coming to 2.04 million.
89bio Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.22. If we narrow it down even further, the data shows that 0 out of 9 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 1 recommended ETNB as a Hold, whereas 7 deemed it a Buy, and 0 rated it as Underweight. 89bio Inc is expected to report earnings per share of -0.76 for the current quarter.
89bio Inc (NASDAQ:ETNB) trade information
Instantly ETNB has showed a green trend with a performance of 1.82% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 11.84 on recent trading dayincreased the stock’s daily price by 5.57%. The company’s shares are currently up 42.97% year-to-date, but still up 4.00% over the last five days. On the other hand, 89bio Inc (NASDAQ:ETNB) is 71.74% up in the 30-day period. We can see from the shorts that 8.34 million shares have been sold at a short interest cover period of 2.61 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 55.28% 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
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 -59.99% in 2025, but the outlook is negative -10.60% per year for the next five years.
89bio Inc (NASDAQ:ETNB)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.11% of 89bio Inc shares, and 91.55% of them are in the hands of institutional investors. The stock currently has a share float of 92.58%. 89bio Inc stock is held by 227.0 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.
Janus Henderson Global Life Sciences Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Sep 30, 2024. The former held 2.97 shares worth $33.16 million, making up 2.79% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 2.65 shares worth around $29.58 million, which represents about 2.49% of the total shares outstanding.
