Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. 89bio Inc shares valued at $71,150 were sold by Le-Nguyen Quoc on Jan 15 ’25. At $6.49 per share, Le-Nguyen Quoc sold 10,963 shares. The insider’s holdings dropped to 271,833 shares worth approximately $1.83 million following the completion of this transaction.
Also, QUOC LE-NGUYEN purchased 10,963 shares, netting a total of over 71,110 in proceeds.
Before that, PALEKAR ROHAN had added 5,000 shares to its account. In a trade valued at $39,450, the Chief Executive Officer bought 89bio Inc shares for $7.89 each. Upon closing the transaction, the insider’s holdings increased to 5,000 shares, worth approximately $3.18 million.
Analysts at RBC Capital Mkts downgraded the stock from ‘”an Outperform”‘ to ‘”a Sector perform”‘ outlook in a report released in mid January. As of October 10, 2023, Oppenheimer has decreased its “an Outperform” rating to a “Perform” for ETNB. Earlier on August 28, 2023, UBS initiated its rating. Their recommendation was “a Buy” for ETNB stock.
Analyzing ETNB Stock Performance
During the last five days, there has been a surge of approximately 7.48%. Over the course of the year, 89bio Inc shares have dropped approximately -13.68%. Shares of the company reached a 52-week high of $8.05 on 01/02/25 and a 52-week low of $5.99 on 01/16/25. A 50-day SMA is recorded $7.99, while a 200-day SMA reached $8.37. Nevertheless, trading volume fell to 0.88 million shares from 1.55 million shares the previous day.
Support And Resistance Levels for 89bio Inc (ETNB)
According to the 24-hour chart, there is a support level at 6.58, which, if violated, would cause prices to drop to 6.40. In the upper region, resistance lies at 6.87. The next price resistance is at 6.99. RSI (Relative Strength Index) is 40.91 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.41, which suggests the price will decrease in the coming days. Percent R is at 62.98%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
