89bio, Inc.: A Big Bet On NASH

Aug. 10, 2023 1:48 PM ET89bio, Inc. (ETNB) StockAKRO, MDGL, ETNB7 Comments

Summary

  • 89bio, Inc. is a clinical-stage biotech company focused on developing therapies for liver and cardio-metabolic diseases.
  • The stock surged after top-line data from a Phase 2 study for its primary drug candidate targeting NASH came out in March.
  • The company ended the second quarter with nearly $480 million in cash and marketable securities, but has seen insider selling and short interest in the stock.
  • Where does the stock go from here?  An analysis follows below.
  • Looking for a helping hand in the market? Members of The Biotech Forum get exclusive ideas and guidance to navigate any climate. Learn More »

Liver anatomical model on doctor"s table during hepatologist consultation for patient with side pain in background. Treatment liver diseases in medicine, conceptual image

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Rivers know this: there is no hurry. We shall get there some day.”― A.A. Milne.

Today, we take a deeper look at 89bio, Inc. (NASDAQ:ETNB), which is targeting the large and potentially very lucrative nonalcoholic

Live Chat on The Biotech Forum has been dominated by discussion of lucrative buy-write or covered call opportunities on selected biotech stocks over the past several months. To see what I and the other season biotech investors are targeting as trading ideas real-time, just join our community at The Biotech Forum by clicking HERE.

This article was written by

51.16K Followers

Bret Jensen has over 13 years as a market analyst, helping investors find big winners in the biotech sector. Bret specializes in high beta sectors with potentially large investor returns.

Bret leads the investing group The Biotech Forum, in which he and his team offer a model portfolio with their favorite 12-20 high upside biotech stocks, live chat to discuss trade ideas, and weekly research and option trades. The group also provides market commentary and a portfolio update every weekend. Learn More.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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