The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 89bio Inc shares valued at $49,999,994 were purchased by RA CAPITAL MANAGEMENT, L.P. on Jan 30 ’25. At $8.75 per share, RA CAPITAL MANAGEMENT, L.P. acquired 5,714,285 shares. The insider’s holdings grew to 19,554,319 shares worth approximately $220.96 million following the completion of this transaction.
Also, McWherter Charles purchased 10,000 shares, netting a total of over 67,100 in proceeds. Following the buying of shares at $6.71 each, the insider now holds 25,000 shares.
Before that, McWherter Charles had added 5,000 shares to its account. In a trade valued at $32,750, the Director bought 89bio Inc shares for $6.55 each. Upon closing the transaction, the insider’s holdings increased to 5,000 shares, worth approximately $0.17 million.
As published in their initiating research note from Wolfe Research on February 04, 2025, 89bio Inc [ETNB] has been an Outperform. As of January 12, 2024, RBC Capital Mkts has decreased its “an Outperform” rating to a “Sector perform” for ETNB. Earlier on October 10, 2023, Oppenheimer downgraded its rating. Their new recommendation was “a Perform” for ETNB stock which previously was a “an Outperform”.
Analyzing ETNB Stock Performance
During the last five days, there has been a surge of approximately 1.07%. Over the course of the year, 89bio Inc shares have jumped approximately 44.50%. Shares of the company reached a 52-week high of $11.84 on 02/05/25 and a 52-week low of $5.99 on 01/16/25. A 50-day SMA is recorded $8.45, while a 200-day SMA reached $8.44. Nevertheless, trading volume fell to 1.0 million shares from 1.45 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 10.96, which, if violated, would cause prices to drop to 10.63. In the upper region, resistance lies at 11.47. The next price resistance is at 11.65. RSI (Relative Strength Index) is 67.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.18, which suggests the price will decrease in the coming days. Percent R is at 18.69%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
