While 89bio Inc has underperformed by -7.52%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ETNB rose by 3.93%, with highs and lows ranging from $16.63 to $7.00, whereas the simple moving average fell by -3.62% in the last 200 days.
On April 22, 2024, BofA Securities started tracking 89bio Inc (NASDAQ: ETNB) recommending Buy. A report published by RBC Capital Mkts on January 12, 2024, Downgraded its rating to ‘Sector Perform’ for ETNB. UBS Initiated an Buy rating on August 28, 2023, and assigned a price target of $36. Evercore ISI initiated its ‘Outperform’ rating for ETNB, as published in its report on June 13, 2023. Raymond James’s report from May 12, 2022 suggests a price prediction of $12 for ETNB shares, giving the stock a ‘Strong Buy’ rating. H.C. Wainwright also rated the stock as ‘Buy’.
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Analysis of 89bio Inc (ETNB)
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of 89bio Inc’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -73.31% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 11.65, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and ETNB is recording an average volume of 701.69K. On a monthly basis, the volatility of the stock is set at 7.77%, whereas on a weekly basis, it is put at 6.55%, with a loss of -2.57% over the past seven days. Furthermore, long-term investors anticipate a median target price of $30.86, showing growth from the present price of $8.73, which can serve as yet another indication of whether ETNB is worth investing in or should be passed over.
How Do You Analyze 89bio Inc Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As opposed to executive stock, institutional ownership accounts for 89.23% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
ETNB shares are owned by institutional investors to the tune of 89.23% at present.
