89bio Inc (ETNB) average volume reaches $1.18: Is Wall Street expecting a rally?

On Monday, 89bio Inc (NASDAQ: ETNB) was 11.01% up from the session before settling in for the closing price of $8.45. A 52-week range for ETNB has been $6.57 – $22.93.

#1 Small-Cap Uranium Stock for Ultra-Fast Gains in 2024

We've uncovered THE ONE small-cap uranium stock that has unearthed a near-surface, high-grade uranium discovery in the Saudi Arabia of Uranium — Canada's prolific Athabasca Basin. Best of all, this small-cap uranium stock is currently flying just below Wall Street's radar… giving you the early-entry opportunity around US$0.30 per share. But that won't last long. Drills are turning right now with results set to be released to the market very, very soon.

Learn all about it in this brand new FREE online report.
Sponsored

When this article was written, the company’s average yearly earnings per share was at 30.62%. With a float of $86.18 million, this company’s outstanding shares have now reached $90.77 million.

89bio Inc (ETNB) Insider Activity

Also, it is sometimes useful to examine the sentiment of large-scale investors toward 89bio Inc stocks. The insider ownership of 89bio Inc is 5.06%, while institutional ownership is 85.94%. The most recent insider transaction that took place on Dec 29, was worth 560,000. In this transaction Chief Executive Officer of this company sold 50,000 shares at a rate of $11.20, taking the stock ownership to the 301,225 shares. Before that another transaction happened on Jul 17, when Company’s Director sold 12,500 for $18.80, making the entire transaction worth $235,000. This insider now owns 0 shares in total.

89bio Inc (ETNB) Earnings and Forecasts

Going through the last 3-months fiscal report unveiled on the 9/29/2023, it has been observed that the corporation posted -$0.45 earnings per share (EPS) during the time that was better than consensus figure (set at -$0.53) by $0.08. Wall Street market experts anticipate that the next fiscal year will bring earnings of -0.53 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around 30.62% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 11.00% during the next five years compared to -25.73% drop over the previous five years of trading.

89bio Inc (NASDAQ: ETNB) Trading Performance Indicators

You can see what 89bio Inc (ETNB) is doing with its current performance indicators. In the most recent quarter, the stock posted a quick ratio of 18.23.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is -2.00, a number that is poised to hit -0.49 in the next quarter and is forecasted to reach -2.32 in one year’s time.

Technical Analysis of 89bio Inc (ETNB)

Analysing the last 5-days average volume posted by the [89bio Inc, ETNB], we can find that recorded value of 2.4 million was better than the volume posted last year of 1.25 million. As of the previous 9 days, the stock’s Stochastic %D was 42.07%. Additionally, its Average True Range was 0.67.

During the past 100 days, 89bio Inc’s (ETNB) raw stochastic average was set at 26.47%, which indicates a significant decrease from 52.76% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 100.99% in the past 14 days, which was lower than the 101.22% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $10.36, while its 200-day Moving Average is $13.82. Now, the first resistance to watch is $9.71. This is followed by the second major resistance level at $10.03. The third major resistance level sits at $10.67. If the price goes on to break the first support level at $8.75, it is likely to go to the next support level at $8.11. Should the price break the second support level, the third support level stands at $7.79.

89bio Inc (NASDAQ: ETNB) Key Stats

There are 93,206K outstanding shares of the company, which has a market capitalization of 851.42 million. As of now, sales total 0 K while income totals -102,030 K. Its latest quarter income was 0 K while its last quarter net income were -34,730 K.