After finishing at $13.52 in the prior trading day, 89bio Inc (NASDAQ: ETNB) closed at $12.60, down -6.80%. In other words, the price has decreased by -$0.92 from its previous closing price. On the day, 1345531 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 Mar 04 ’24 when RA CAPITAL MANAGEMENT, L.P. bought 1,350,000 shares for $15.35 per share. The transaction valued at 20,722,500 led to the insider holds 12,431,584 shares of the business.
PALEKAR ROHAN sold 4,477 shares of ETNB for $48,173 on Feb 26 ’24. The Chief Executive Officer now owns 486,889 shares after completing the transaction at $10.76 per share. On Dec 29 ’23, another insider, PALEKAR ROHAN, who serves as the Chief Executive Officer of the company, sold 50,000 shares for $11.20 each. As a result, the insider received 560,000 and left with 301,225 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 1.26B and an Enterprise Value of 712.37M.
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 11.00, while the 200-Day Moving Average is calculated to be 13.18.
Shares Statistics:
The stock has traded on average 1.38M shares per day over the past 3-months and 1.74M 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 86.73M. Insiders hold about 7.24% of the company’s shares, while institutions hold 102.65% stake in the company. Shares short for ETNB as of Feb 29, 2024 were 10.86M with a Short Ratio of 7.86, compared to 9.63M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 11.62% and a Short% of Float of 13.29%.
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.
