In a filing, 89bio Inc revealed its insider Le-Nguyen Quoc unloaded Company’s shares for reported $0.23 million on Oct 30 ’24. In the deal valued at $8.12 per share,27,955 shares were sold. As a result of this transaction, Le-Nguyen Quoc now holds 187,796 shares worth roughly $1.7 million.
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Then, QUOC LE-NGUYEN bought 27,955 shares, generating $226,972 in total proceeds.
Before that, PALEKAR ROHAN sold 52,718 shares. 89bio Inc shares valued at $575,153 were divested by the Chief Executive Officer at a price of $10.91 per share. As a result of the transaction, PALEKAR ROHAN now holds 459,171 shares, worth roughly $4.16 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 Tuesday, 89bio Inc [NASDAQ:ETNB] saw its stock fall -9.95% to $9.05. Over the last five days, the stock has lost -1.95%. 89bio Inc shares have fallen nearly -18.98% since the year began. Nevertheless, the stocks have risen 21.31% over the past one year. While a 52-week high of $16.63 was reached on 03/04/24, a 52-week low of $6.88 was recorded on 10/03/24. SMA at 50 days reached $8.19, while 200 days put it at $9.11.
Levels Of Support And Resistance For ETNB Stock
The 24-hour chart illustrates a support level at 8.66, which if violated will result in even more drops to 8.28. On the upside, there is a resistance level at 9.71. A further resistance level may holdings at 10.38. The Relative Strength Index (RSI) on the 14-day chart is 53.59, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.93, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 54.75%. Stochastics %K at 73.49% indicates the stock is a holding.
How much short interest is there in 89bio Inc?
A steep rise in short interest was recorded in 89bio Inc stocks on 2024-10-15, dropping by -1.57 million shares to a total of 5.38 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 6.94 million shares. There was a decline of -29.12%, which implies that there is a negative sentiment for the stock.
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.
