A new trading day began on Tuesday, with 89bio Inc (NASDAQ: ETNB) stock price up 1.02% from the previous day of trading ,before settling in for the closing price of $10.79. ETNB’s price has ranged from $6.57 to $22.93 over the past 52 weeks.
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Meanwhile, its annual earnings per share averaged -2.97%. With a float of $86.76 million, this company’s outstanding shares have now reached $93.27 million.
Considering the fact that the conglomerate employs 70 people, you should pay attention to its efficiency factor.
89bio Inc (ETNB) Insider Activity
As we move forward, let’s examine how large-scale investors are investing in this stock of the Biotechnology Industry. The insider ownership of 89bio Inc is 7.21%, while institutional ownership is 102.69%. The most recent insider transaction that took place on Apr 01 ’24, was worth 575,153. In this transaction Chief Executive Officer of this company sold 52,718 shares at a rate of $10.91, taking the stock ownership to the 459,171 shares. Before that another transaction happened on Mar 04 ’24, when Company’s Director bought 1,350,000 for $15.35, making the entire transaction worth $20,722,500. This insider now owns 12,431,584 shares in total.
89bio Inc (ETNB) Earnings and Forecasts
According to the Wall Street analysts, stocks earnings will be around -2.97% 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 -11.24% drop over the previous five years of trading.
89bio Inc (NASDAQ: ETNB) Trading Performance Indicators
Here are 89bio Inc’s current performance indicators. According to the last quarter’s results, the stock had a quick ratio of 20.04.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is -2.01, a number that is poised to hit -0.46 in the next quarter and is forecasted to reach -2.58 in one year’s time.
Technical Analysis of 89bio Inc (ETNB)
Compared to the last year’s volume of 1.3 million, its volume of 0.64 million showed lagged in the last five days. As of the previous 9 days, the stock’s Stochastic %D was 41.97%. Additionally, its Average True Range was 0.71.
During the past 100 days, 89bio Inc’s (ETNB) raw stochastic average was set at 38.72%, which indicates a significant increase from 36.68% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 45.73% in the past 14 days, which was lower than the 72.67% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $11.01, while its 200-day Moving Average is $12.50. Nevertheless, the first resistance level for the watch stands at $11.04 in the near term. At $11.19, the stock is likely to face the second major resistance level. The third major resistance level sits at $11.40. If the price goes on to break the first support level at $10.68, it is likely to go to the next support level at $10.47. Should the price break the second support level, the third support level stands at $10.32.
89bio Inc (NASDAQ: ETNB) Key Stats
With a market capitalization of 1.02 billion, the company has a total of 93,501K Shares Outstanding. Currently, annual sales are 0 K while annual income is -142,190 K. The company’s previous quarter sales were 0 K while its latest quarter income was -40,240 K.
