Overall market sentiment has been high on 89bio Inc (ETNB) stock lately. ETNB receives a Bullish rating from InvestorsObserver Stock Sentiment Indicator.
89bio Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on ETNB!
What is Stock Sentiment?
Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends.
Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down.
InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend.
Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.
What's Happening With ETNB Stock Today?
89bio Inc (ETNB) stock is trading at $3.35 as of 11:40 AM on Thursday, Jun 30, a drop of -$0.10, or -2.9% from the previous closing price of $3.45. The stock has traded between $3.16 and $3.36 so far today. Volume today is light. So far 190,135 shares have traded compared to average volume of 458,431 shares.
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More About 89bio Inc
89bio Inc a United States-based clinical-stage biopharmaceutical company focused on the development of therapies for the treatment of liver and cardio-metabolic diseases. Its product candidate, pegozafermin is a long-acting glycopegylated fibroblast growth factor 21 (FGF21) analogue. The fibroblast growth factor 21 (FGF21) is developed for the treatment of nonalcoholic steatohepatitis (NASH) and for the treatment of severe hypertriglyceridemia (SHTG).
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