89bio Inc. [ETNB] Stock trading around $7.00 per share: What’s Next?

89bio Inc. [NASDAQ: ETNB] stock went on an upward path that rose over 40.00% on Tuesday, amounting to a one-week price increase of more than 55.90%. The company report on September 7, 2022 that 89bio to Participate in the H.C. Wainwright 24th Annual Global Investment Conference.


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89bio, Inc. (Nasdaq: ETNB), a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardiometabolic diseases, today announced that Company’s Management will participate in a fireside chat and one-on-one investor meetings at the H.C. Wainwright 24th Annual Global Investment Conference on Monday, September 12, 2022 at 4:00 PM ET.

The webcast of the presentation will be accessible here and in the investor section of 89bio’s website.

Over the last 12 months, ETNB stock dropped by -65.97%. The one-year 89bio Inc. stock forecast points to a potential upside of 68.72. The average equity rating for ETNB stock is currently 1.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $261.52 million, with 39.07 million shares outstanding and 38.75 million shares in the current float. Compared to the average trading volume of 493.32K shares, ETNB stock reached a trading volume of 35804693 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 89bio Inc. [ETNB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ETNB shares is $22.38 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ETNB stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for 89bio Inc. shares, keeping their opinion on the stock as Strong Buy, with their previous recommendation back on May 12, 2022. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on December 20, 2021, representing the official price target for 89bio Inc. stock. Previously, the target price had yet another raise to $49, while Cantor Fitzgerald analysts kept a Overweight rating on ETNB stock.

The Average True Range (ATR) for 89bio Inc. is set at 0.55 The Price to Book ratio for the last quarter was 1.78, with the Price to Cash per share for the same quarter was set at 3.73.

ETNB Stock Performance Analysis:

89bio Inc. [ETNB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 55.90. With this latest performance, ETNB shares gained by 60.92% in over the last four-week period, additionally plugging by 102.90% over the last 6 months – not to mention a drop of -65.97% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ETNB stock in for the last two-week period is set at 78.73, with the RSI for the last a single of trading hit 84.31, and the three-weeks RSI is set at 74.79 for 89bio Inc. [ETNB]. The present Moving Average for the last 50 days of trading for this stock 4.09, while it was recorded at 5.26 for the last single week of trading, and 5.58 for the last 200 days.

Insight into 89bio Inc. Fundamentals:

Return on Equity for this stock declined to -54.80, with Return on Assets sitting at -48.26.

89bio Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.40 and a Current Ratio set at 5.40.

ETNB Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ETNB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for 89bio Inc. go to 6.10%.

89bio Inc. [ETNB] Insider Position Details

There are presently around $227 million, or 89.30% of ETNB stock, in the hands of institutional investors. The top three institutional holders of ETNB stocks are: RA CAPITAL MANAGEMENT, L.P. with ownership of 7,782,669, which is approximately 56.726% of the company’s market cap and around 0.48% of the total institutional ownership; BVF INC/IL, holding 3,898,000 shares of the stock with an approximate value of $27.29 million in ETNB stocks shares; and ORBIMED ADVISORS LLC, currently with $25.61 million in ETNB stock with ownership of nearly 0% of the company’s market capitalization.

Positions in 89bio Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 52 institutional holders increased their position in 89bio Inc. [NASDAQ:ETNB] by around 19,607,663 shares. Additionally, 37 investors decreased positions by around 4,218,889 shares, while 5 investors held positions by with 8,629,080 shares. The mentioned changes placed institutional holdings at 32,455,632 shares, according to the latest SEC report filing. ETNB stock had 26 new institutional investments in for a total of 13,849,190 shares, while 23 institutional investors sold positions of 2,578,697 shares during the same period.

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