89bio Inc’s filing revealed that its Director RA CAPITAL MANAGEMENT, L.P. acquired Company’s shares for reported $50.0 million on Jan 30 ’25. In the deal valued at $8.75 per share,5,714,285 shares were bought. As a result of this transaction, RA CAPITAL MANAGEMENT, L.P. now holds 19,554,319 shares worth roughly $214.71 million.
Then, McWherter Charles bought 10,000 shares, generating $67,100 in total proceeds. Upon buying the shares at $6.71, the Director now owns 25,000 shares.
Before that, McWherter Charles bought 5,000 shares. 89bio Inc shares valued at $32,750 were divested by the Director at a price of $6.55 per share. As a result of the transaction, McWherter Charles now holds 15,000 shares, worth roughly $0.16 million.
Wolfe Research initiated its 89bio Inc [ETNB] rating to an Outperform in a research note published recently. RBC Capital Mkts also remained covering ETNB and has decreased its forecast on January 12, 2024 with a “Sector perform” recommendation from previously “an Outperform” rating. Oppenheimer revised its rating on October 10, 2023. It rated ETNB as “a Perform” which previously was an “an Outperform”.
Price Performance Review of ETNB
On Monday, 89bio Inc [NASDAQ:ETNB] saw its stock fall -3.77% to $10.98. Over the last five days, the stock has gained 18.19%. 89bio Inc shares have risen nearly 40.41% since the year began. Nevertheless, the stocks have risen 31.65% over the past one year. While a 52-week high of $16.63 was reached on 02/05/25, a 52-week low of $5.99 was recorded on 01/16/25. SMA at 50 days reached $8.20, while 200 days put it at $8.36.
Levels Of Support And Resistance For ETNB Stock
The 24-hour chart illustrates a support level at 10.63, which if violated will result in even more drops to 10.29. On the upside, there is a resistance level at 11.56. A further resistance level may holdings at 12.15. The Relative Strength Index (RSI) on the 14-day chart is 69.33, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.82, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 16.18%. Stochastics %K at 89.63% indicates the stock is a selling.
How much short interest is there in 89bio Inc?
A steep rise in short interest was recorded in 89bio Inc stocks on 2025-01-15, growing by 1.42 million shares to a total of 8.35 million shares. Yahoo Finance data shows the prior-month short interest on 2024-12-13 was 6.94 million shares. There was a rise of 16.95%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on August 28, 2023 when UBS began covering the stock and recommended ‘”a Buy”‘ rating along with a $36 price target.
