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89bio Inc. (NASDAQ: ETNB) – An Analysis Is What You Need

89bio Inc. (NASDAQ:ETNB) traded at $12.39 at last check on Tuesday, January 24, made an upward move of 0.81% on its previous day’s price.

Looking at the stock we see that its previous close was $12.29 and the beta (5Y monthly) reads 0.93 with the day’s price range being $11.7125 – $12.575. In terms of its 52-week price range, ETNB has a high of $12.95 and a low of $2.00. The company’s stock has gained about 8.76% over that past 30 days.

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89bio Inc. has a market cap of $549.49 million and is expected to release its quarterly earnings report on Mar 22, 2023 – Mar 27, 2023. Estimates by analysts give the company expected earnings per share (EPS) of -$0.8, with the EPS growth for the year raised at -$3.35 for 2022 and -$3.35 for next year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the ETNB stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.

Based on estimates by 8 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 0 have rated the 89bio Inc. (ETNB) stock as a Hold, while 8 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 7.42% off its SMA20 and 23.78% from its 50-day simple moving average. The RSI (14) is pointing at 61.76 while the volatility over the past week is 7.74% and jumps to 8.26% over the past one month. The average price target for the stock over the next 12 months is $24.38, with the estimates having a low of $12.00 and a high of $34.00. These price ends are 3.15% and -174.41% off the today’s price level respectively, although investors could be excited at the prospect of a -109.85% if the ETNB share price touches on the median price of $26.00.

Coming back to 89bio Inc. (NASDAQ:ETNB), we note that the average 3-month trading volume was 884.00K, while that of the preceding 10-day period stands at 0.85 million. Current shares outstanding are 47.25 million.

The insiders hold 0.90% of the company’s shares while institutions hold 89.30%. The data shows that short shares as of Oct 13, 2022, stood at 3.79 million at a short ratio of 3.5. This represents a 9.69% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 3.15 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -3.46% down in year-to-date price movement.

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