UBS raised the price target for the 89bio Inc. (NASDAQ:ETNB) stock to “a Buy”. The rating was released on August 28, 2023, according to finviz.
The latest trade, Performances and Moving Averages give us the following Picture
The share price of 89bio Inc. (NASDAQ:ETNB) dipped -2.09% to close Friday’s market session at $17.36, lower as compared to yesterday’s close. The stock price fluctuated between $16.81 and $17.88 throughout the trading session with the volume trading being 2185356 shares, which represented a significant variation when compared to the three months average volume of 1.17 million shares. The firm’s stock price fluctuated 4.55% within the last five trades and 8.03% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price increased 37.23% in the last 6 months and -16.09% was subtracted to its value over the previous 3 months. ETNB stock is trading at a margin of 2.66%, 2.67% and 15.18% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.
As of the close of trading, ETNB deals in the Healthcare domain. The stock is trading -24.29 percent below its 52-week high and 257.94 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is 92.3. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.
What Does 89bio Inc.’s Profitability and Valuation Ratios Tell Us About the Stock?
The stock’s market cap achieved a total value of $1.34 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. The firm managed a Price-to-Book ratio of 2.91, which equates the market value of a stock with its book value.
Is Insider Trading a Real Thing?
Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 0.90 percent of 89bio Inc. shares are owned by insiders, and 89.30 percent are held by financial institutions. LAPORTE KATHLEEN, the Director at 89bio Inc. (ETNB) has sold 12,500 shares of firm on Jul 17 at a price of $18.80 against the total amount of $0.23 million. In another inside trade, PALEKAR ROHAN, Chief Executive Officer of 89bio Inc. (NASDAQ:ETNB) sold 15,000 shares of the firm on Jun 05 for a total worth of $0.3 million at a price of $20.00. An inside trade which took place on Jun 01, Director of 89bio Inc. Atkinson Edward Morrow III sold 6,250 shares of firm against total price of $0.11 million at the cost of $17.91 per share.