89bio, Inc. (NASDAQ:ETNB – Get Free Report) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 6,500,000 shares, a growth of 5.5% from the July 15th total of 6,160,000 shares. Based on an average trading volume of 985,100 shares, the short-interest ratio is currently 6.6 days.
89bio Price Performance
Shares of NASDAQ ETNB traded down $0.13 on Friday, hitting $8.04. The company’s stock had a trading volume of 375,235 shares, compared to its average volume of 1,075,704. The stock has a 50 day moving average of $8.40 and a 200-day moving average of $9.43. The company has a market capitalization of $791.01 million, a price-to-earnings ratio of -4.00 and a beta of 1.10. 89bio has a 12-month low of $6.57 and a 12-month high of $18.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.03 and a quick ratio of 15.03.
89bio (NASDAQ:ETNB – Get Free Report) last posted its earnings results on Monday, August 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.08. During the same period in the previous year, the business posted ($0.52) earnings per share. As a group, research analysts predict that 89bio will post -2.42 EPS for the current year.
Institutional Trading of 89bio
Wall Street Analyst Weigh In
A number of brokerages have weighed in on ETNB. Raymond James lifted their price objective on 89bio from $50.00 to $53.00 and gave the company a “strong-buy” rating in a report on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $29.00 price objective on shares of 89bio in a research report on Monday, July 1st. Royal Bank of Canada decreased their target price on shares of 89bio from $13.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 6th. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 target price on shares of 89bio in a report on Tuesday, August 6th. Finally, Evercore ISI decreased their price target on 89bio from $37.00 to $33.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, 89bio presently has an average rating of “Moderate Buy” and a consensus target price of $30.14.
Read Our Latest Report on ETNB
About 89bio
89bio, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapies for the treatment of liver and cardio-metabolic diseases. Its lead product candidate is pegozafermin, a glycoPEGylated analog of fibroblast growth factor 21 for the treatment of nonalcoholic steatohepatitis; and for the treatment of severe hypertriglyceridemia.
Further Reading
- Five stocks we like better than 89bio
- Basic Materials Stocks Investing
- This Small Cap Wealth Management Stock Could Provide Big Returns
- Stock Dividend Cuts Happen Are You Ready?
- Bumble’s Valuation Hits an All-Time Low, Can Its Fortunes Change?
- 3 Grocery Stocks That Can Help Take a Bite Out of Inflation
- MarketBeat Week in Review – 8/12 – 8/16
Receive News & Ratings for 89bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 89bio and related companies with MarketBeat.com's FREE daily email newsletter.