89bio (ETNB) stock is on the rise today, possibly due to a significant insider buy on the stock. Four days ago, one of the directors of this clinical-stage biopharmaceutical company, who owns more than 10% of ETNB’s stock, made an $8.9 million Informative Buy.
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The insider, Ra Capital Management, is a five-star insider on TipRanks. Ra Capital has earned an impressive average return of 14.2% per transaction, so this is an insider that many investors will want to follow. Indeed, the stock rose more than 2% on Friday, and continues to rise in Monday’s pre-market trading, showing that investors are copying this successful insider.
In all, corporate insiders have bought shares of 89bio, at a value of $9.0 million, in the last three months.
What is ETNB Stock’s Price Prediction?
ETNB stock has earned five Buy ratings from analysts in the past three months, giving it a Strong Buy analyst consensus. 89bio’s average analyst stock price prediction is $27.75, implying an upside of 220.8%
For more information about Insider trades, see the Insiders’ Hot Stocks page on TipRanks.
