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.

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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.