A new trading day began on Tuesday, with 89bio Inc (NASDAQ: ETNB) stock price down -4.19% from the previous day of trading, before settling in for the closing price of $9.31. 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 $88.56 million, this company’s outstanding shares have now reached $93.27 million.
In an organization with 70 employees, it is important to assess its efficiency.
89bio Inc (ETNB) Insider and Institutional Ownership
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 7.00%, while institutional ownership is 101.91%. 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) Latest Financial update
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)
Let’s dig in a bit further. During the last 5-days, its volume was 0.74 million. That was inferior than the volume of 1.24 million it reported in year-ago period. As of the previous 9 days, the stock’s Stochastic %D was 16.57%. Additionally, its Average True Range was 0.61.
During the past 100 days, 89bio Inc’s (ETNB) raw stochastic average was set at 15.83%, which indicates a significant increase from 5.86% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 35.01% in the past 14 days, which was lower than the 72.81% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $11.03, while its 200-day Moving Average is $12.04. However, in the short run, 89bio Inc’s stock first resistance to watch stands at $9.35. Second resistance stands at $9.79. The third major resistance level sits at $10.00. If the price goes on to break the first support level at $8.70, it is likely to go to the next support level at $8.49. The third support level lies at $8.05 if the price breaches the second support level.
89bio Inc (NASDAQ: ETNB) Key Stats
With a market capitalization of 849.36 million, the company has a total of 95,225K 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.
