89bio Inc (NASDAQ:ETNB) shares, rose in value on Thursday, March 27, with the stock price up by 11.72% to the previous day’s close as strong demand from buyers drove the stock to $8.96.
Actively observing the price movement in the last trading, the stock closed the session at $8.02, falling within a range of $7.97 and $9.318. The value of beta (5-year monthly) was 1.341. Referring to stock’s 52-week performance, its high was $11.84, and the low was $5.99. On the whole, ETNB has fluctuated by -2.71% over the past month.
With the market capitalization of 89bio Inc currently standing at about $1.31 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2025-Feb-26.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that ETNB’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of ETNB currently trading nearly 6.34% and -0.81% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 51.98, while the 7-day volatility ratio is showing 11.46% which for the 30-day chart, stands at 8.26%. Furthermore, 89bio Inc (ETNB)’s beta value is 1.25, and its average true range (ATR) is 0.73.
A comparison of 89bio Inc (ETNB) with its peers suggests the former has fared considerably weaker in the market. ETNB showed an intraday change of 11.72% in last session, and over the past year, it shrunk by -20.99%%.
Data on historical trading for 89bio Inc (NASDAQ:ETNB) indicates that the trading volumes over the past 10 days have averaged 2.5 and over the past 3 months, they’ve averaged 2.36 million. According to company’s latest data on outstanding shares, there are 145.98 million shares outstanding.
Nearly 3.88% of 89bio Inc’s shares belong to company insiders and institutional investors own 89.70% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 11.01 million shares as on 2025-03-14, resulting in a short ratio of 6.91. According to the data, the short interest in 89bio Inc (ETNB) stood at 899.00 of shares outstanding as of 2025-03-14; the number of short shares registered in 2025-02-14 reached 9.13 million. The stock has risen by 14.58% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ETNB stock heading into the next quarter.
