Investors aiming for above-average returns often turn to the practice of stock picking. Skillful choices in individual stocks can be a catalyst for substantial wealth growth.
After finishing at $9.37 in the prior trading day, 89bio Inc (NASDAQ: ETNB) closed at $9.03, down -3.63%. In other words, the price has decreased by -$3.63 from its previous closing price. On the day, 0.55 million shares were traded. ETNB stock price reached its highest trading level at $9.295 during the session, while it also had its lowest trading level at $8.8294.
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.
On January 12, 2024, RBC Capital Mkts Downgraded its rating to Sector Perform which previously was Outperform and also lowered its target price recommendation from $24 to $15.
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 859879040 and an Enterprise Value of 324344352.
Stock Price History:
The Beta on a monthly basis for ETNB is 1.04, which has changed by -0.48289186 over the last 52 weeks, in comparison to a change of 0.2537824 over the same period for the S&P500. 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 -16.17%, while the 200-Day Moving Average is calculated to be -21.91%.
Shares Statistics:
The stock has traded on average 1.15M shares per day over the past 3-months and 699690 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 88.56M. Insiders hold about 7.00% of the company’s shares, while institutions hold 102.06% stake in the company. Shares short for ETNB as of 1713139200 were 11209464 with a Short Ratio of 9.79, compared to 1710460800 on 11112228. Therefore, it implies a Short% of Shares Outstanding of 11209464 and a Short% of Float of 15.640001.
Earnings Estimates
The stock of 89bio Inc (ETNB) is currently being evaluated by 8.0 analysts who are actively contributing to its market rating.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 10.0 analysts recommending between -$1.69 and -$3.4.
