After finishing at $10.90 in the prior trading day, 89bio Inc (NASDAQ: ETNB) closed at $10.54, down -3.30%. In other words, the price has decreased by -$0.36 from its previous closing price. On the day, 1026954 shares were traded.
Ratios:
Our goal is to gain a better understanding of ETNB by taking a closer look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 20.04 and its Current Ratio is at 20.04. In the meantime, Its Debt-to-Equity ratio is 0.05 whereas as Long-Term Debt/Eq ratio is at 0.05.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, RBC Capital Mkts on January 12, 2024, Downgraded its rating to Sector Perform and sets its target price to $15 from $24 previously.
On August 28, 2023, UBS started tracking the stock assigning a Buy rating and target price of $36.UBS initiated its Buy rating on August 28, 2023, with a $36 target price.
Insider Transactions:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Apr 01 ’24 when PALEKAR ROHAN sold 52,718 shares for $10.91 per share. The transaction valued at 575,153 led to the insider holds 459,171 shares of the business.
RA CAPITAL MANAGEMENT, L.P. bought 1,350,000 shares of ETNB for $20,722,500 on Mar 04 ’24. The Director now owns 12,431,584 shares after completing the transaction at $15.35 per share. On Feb 26 ’24, another insider, PALEKAR ROHAN, who serves as the Chief Executive Officer of the company, sold 4,477 shares for $10.76 each. As a result, the insider received 48,173 and left with 486,889 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, ETNB now has a Market Capitalization of 1.02B and an Enterprise Value of 468.34M.
Stock Price History:
Over the past 52 weeks, ETNB has reached a high of $22.93, while it has fallen to a 52-week low of $6.57. The 50-Day Moving Average of the stock is 11.01, while the 200-Day Moving Average is calculated to be 12.50.
Shares Statistics:
The stock has traded on average 1.32M shares per day over the past 3-months and 774.18k shares per day over the last 10 days, according to various share statistics. A total of 93.27M shares are outstanding, with a floating share count of 86.96M. Insiders hold about 7.21% of the company’s shares, while institutions hold 102.50% stake in the company. Shares short for ETNB as of Mar 15, 2024 were 11.11M with a Short Ratio of 8.74, compared to 10.58M on Feb 15, 2024. Therefore, it implies a Short% of Shares Outstanding of 11.88% and a Short% of Float of 13.59%.
Earnings Estimates
Its stock is currently analyzed by 8 different market analysts. On average, analysts expect EPS of -$0.46 for the current quarter, with a high estimate of -$0.4 and a low estimate of -$0.57, while EPS last year was -$0.54. The consensus estimate for the next quarter is -$0.51, with high estimates of -$0.38 and low estimates of -$0.68.
Analysts are recommending an EPS of between -$1.55 and -$2.82 for the fiscal current year, implying an average EPS of -$2.07. EPS for the following year is -$2.61, with 10 analysts recommending between -$1.69 and -$3.4.
