89bio Stock Plunges 12.1% Amid Earnings Misses

On April 3, 2025, 89bio's stock price experienced a significant drop of 12.1% in pre-market trading, raising concerns among investors about the company's recent performance and future prospects.

89bio, Inc. has seen its stock price fluctuate in recent months, with analysts providing varied price targets. The average 12-month price forecast for 89bio stock is $27.56, with estimates ranging from $11 to $49. This wide range reflects the uncertainty surrounding the company's future performance.

Recent financial performance has also been a point of concern. 89bio's earnings have missed estimates in three of the last four quarters, only beating expectations once. This inconsistent performance has contributed to the stock's volatility and investor caution.

Additionally, institutional investors have been adjusting their holdings in 89bio. Pictet Asset Management Holding SA recently sold 239,574 shares of the company, which could indicate a lack of confidence in its near-term prospects. This move, combined with the stock's year-to-date loss of 13%, has further dampened investor sentiment.