89bio Inc (NASDAQ:ETNB) shares, rose in value on Wednesday, April 16, with the stock price down by -2.64% to the previous day’s close as strong demand from buyers drove the stock to $5.89.
Actively observing the price movement in the last trading, the stock closed the session at $6.05, falling within a range of $5.68 and $6.07. The value of beta (5-year monthly) was 1.291. Referring to stock’s 52-week performance, its high was $11.84, and the low was $4.16. On the whole, ETNB has fluctuated by -31.11% over the past month.
With the market capitalization of 89bio Inc currently standing at about $859.84 million, 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 100% 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% Sell.
The stock’s technical analysis shows that the price of ETNB currently trading nearly -14.39% and -30.84% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 40.92, while the 7-day volatility ratio is showing 9.29% which for the 30-day chart, stands at 12.47%. Furthermore, 89bio Inc (ETNB)’s beta value is 1.53, and its average true range (ATR) is 0.75.
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 -2.64% in last session, and over the past year, it shrunk by -37.93%%.
Data on historical trading for 89bio Inc (NASDAQ:ETNB) indicates that the trading volumes over the past 10 days have averaged 2.31 and over the past 3 months, they’ve averaged 2.68 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 89.89% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 15.23 million shares as on 2025-03-31, resulting in a short ratio of 7.08. According to the data, the short interest in 89bio Inc (ETNB) stood at 1244.00 of shares outstanding as of 2025-03-31; the number of short shares registered in 2025-02-28 reached 9.65 million. The stock has fallen by -24.68% 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.
