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BofA Securities’s latest rating for ETNB stock

89bio Inc’s filing revealed that its Chief Executive Officer PALEKAR ROHAN unloaded Company’s shares for reported $0.58 million on Apr 01 ’24. In the deal valued at $10.91 per share,52,718 shares were sold. As a result of this transaction, PALEKAR ROHAN now holds 459,171 shares worth roughly $4.0 million.

Then, RA CAPITAL MANAGEMENT, L.P. bought 1,350,000 shares, generating $20,722,500 in total proceeds. Upon buying the shares at $15.35, the Director now owns 12,431,584 shares.

Before that, PALEKAR ROHAN sold 4,477 shares. 89bio Inc shares valued at $48,173 were divested by the Chief Executive Officer at a price of $10.76 per share. As a result of the transaction, PALEKAR ROHAN now holds 486,889 shares, worth roughly $4.24 million.

A number of analysts have revised their coverage, including RBC Capital Mkts’s analysts, who decreased its forecast for the stock in mid January from “an Outperform” to “a Sector perform”. Oppenheimer also remained covering ETNB and has decreased its forecast on October 10, 2023 with a “Perform” recommendation from previously “an Outperform” rating. UBS started covering the stock on August 28, 2023. It rated ETNB as “a Buy”.

Price Performance Review of ETNB

On Friday, 89bio Inc [NASDAQ:ETNB] saw its stock fall -4.39% to $8.71. Over the last five days, the stock has lost -5.53%. 89bio Inc shares have fallen nearly -22.02% since the year began. Nevertheless, the stocks have fallen -51.93% over the past one year. While a 52-week high of $22.93 was reached on 03/04/24, a 52-week low of $6.57 was recorded on 02/06/24. SMA at 50 days reached $10.61, while 200 days put it at $11.46. A total of 0.71 million shares were traded, compared to the trading of 0.59 million shares in the previous session.

Levels Of Support And Resistance For ETNB Stock

The 24-hour chart illustrates a support level at 8.46, which if violated will result in even more drops to 8.20. On the upside, there is a resistance level at 9.10. A further resistance level may holdings at 9.48. The Relative Strength Index (RSI) on the 14-day chart is 39.70, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 62.57%. Stochastics %K at 50.84% indicates the stock is a holding.

The most recent change occurred on June 13, 2023 when Evercore ISI began covering the stock and recommended ‘”an Outperform”‘ rating along with a $49 price target.

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