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Do Traders Think 89bio Inc (ETNB) Can Keep Climbing Monday?

Monday, April 05, 2021 01:32 PM | InvestorsObserver Analysts

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Do Traders Think 89bio Inc (ETNB) Can Keep Climbing Monday?

Overall market sentiment has been down on 89bio Inc (ETNB) stock lately. ETNB receives a Bearish rating from InvestorsObserver's Stock Sentiment Indicator.

Sentiment Score - ,bearish
89bio Inc has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on ETNB!

What is Stock Sentiment?

In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company.

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 $25.43 as of 1:26 PM on Monday, Apr 5, an increase of $1.84, or 7.8% from the previous closing price of $23.59. The stock has traded between $23.45 and $25.45 so far today. Volume today is low. So far 40,841 shares have traded compared to average volume of 112,832 shares.

To see InvestorsObserver's Sentiment Score for 89bio Inc click here.

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, BIO89-100, is a long-acting glycopegylated fibroblast growth factor 21 (FGF21) analogue.

Click Here to get the full Stock Score Report on 89bio Inc (ETNB) Stock.

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