89bio Inc. (NASDAQ:ETNB)

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  • MongosPawn: $ETNB Stopped out for a small profit. Got back in on the bounce. Stop just below today's open. Like the volume so far.
  • mhuie: $ETNB. Does anyone have any thoughts on ETNB since VKTX went up so much
  • woodman: @mhuie $ETNB - Nice move off the bottom as it is rapidly moving to test that gap from the drop on 10/10. My sense is that many in the obesity space - and related Diabetes/liver/NASH & cardio spaces - are moving on good industry-wide obesity data ...
  • MongosPawn: $ETNB Starter taken.
  • woodman: @joelsg1 $GPCR $XBI $LLY - This is a market where, if it's a trade, you have to take your profits on first sign of pullback/stalling/likely pullback. I didn't with this one and am disgusted with myself. I should have just sold it at first sign of pullback like I did with $ETNB. ETNB was a good trade because I didn't F around. First sight of pullback, I was out with a nice gain.
  • Motorman: @woodman $GPCR $XBI $LLY $ETNB Your not alone, same mistakes over and over. had a nice gain now flat.
  • joelsg1: @woodman $GPCR $XBI $LLY $ETNB Exactly right, I screwed the pooch on this one, never updated my initial stop because pos so small and thought I'd be able to see and react. Thanks for the needed reminder. Although $GPCR is turning a bit.
  • woodman: @joelsg1 $GPCR $XBI $LLY $ETNB - It's free to run higher now that I am out.
  • woodman: $ETNB - sold this. It's still above the 8dEMA. It could be okay, but today is its first daily lower lower from the previous day's low since I bought it and it's smacking into the 21dEMA.
  • woodman: $ETNB - Another higher high today. I'm still holding this (bought on 10/31 on the move above the 8dEMA and added on 11/1). It's now taking a run at the overhead 21dEMA. It could stall or pullback from here. We'll see.
  • MongosPawn: @woodman $ETNB Earnings scheduled for 11/9 (you likely already know).
  • woodman: @MongosPawn $ETNB - I don't think there's a confirmed date yet for its earnings. I don't see a confirmed date in my sources or on ETNB's website.
  • woodman: $ETNB this off-the-bottom trade is still working, and, so far, is passing through some first level potential resistance around the 20d, with the 21dEMA above. I'm still in this.
  • Nepenthe: @woodman $ETNB $XBI $LABU By the way, I know you've been wisely shorting this, but I'm playing it now for a ride to the 50ma. One ugly chart. Cheers.
  • woodman: @Nepenthe $ETNB $XBI $LABU - I had been shorting via LABD on occasion. Not currently. Looks like the pattern has been broken. And anedotally, I am seeing good action in a lot of individual biotechs I follow - some of which I've been planning to buy or buy back after selling them some time ago due to the carnage. A few with some catalysts in December. This has been the Biotech theme song for a long time (but maybe it's finally changing): https://www.youtube.com/watch?v=bJuDD93JbOw
  • woodman: $ETNB - I bought this yesterday near the close when it was apparent this would close above the 8dEMA for the first time in over 3 weeks and since its big gap down 10/9-10/10. Today is a third consecutive higher high, and one can see what looks like the beginning of the right side of a deep cup. I don't know how much juice this will have. Hopefully the 8dEMA will shift to support now. The 20dSMA/21dEMA area ($8.62-8.90) could be resistance. Or it could keep going to test the old gap which starts at $11.28. Or none of the above. But I'll stick with it as long as it appears a reversal is in.
  • wineinquirer: @woodman $ETNB 8d descending quite rapidly so resistance may come sooner rather than latter. Just an obs but nice take yesterday!
  • woodman: @wineinquirer $ETNB - You're right about the potential descending resistance that I'm looking at (i.e. 20dSMA/21dEMA) coming into play rather quickly. I see the 21dEMA (EMA is more reactive short term to price change than SMA) is starting to curl up, while the 20dSMA hasn't yet.
  • woodman: $ETNB has been crushed, but it may finally be finished going down. Nice base (and potential cup) forming and it has finally moved back above the 8dEMA since the big gap down on 10/10. Of course, biotech has been a graveyard for most biotech companies. But this may be worth a shot.
  • woodman: $ETNB - taking a shot at this one as it looks like it will close above the 8dEMA for first time in a while. It may well not work out. We'll see.
  • woodman: $ETNB - in a nice spot with this pullback to and consolidation along the rising 50d (and other clustered moving averages). My position in this is very small, because I have others in the space, but this looks like a nice chart set up. I'm unclear on timing for any future catalysts.
  • woodman: $ETNB bounce off 50d.
  • woodman: $ETNB - (adding the $ sign)
  • woodman: $VKTX $ETNB $TERN - the NASH/obesity biotechs contintue to move up/back up today.
  • woodman: $TERN is next up (Q3) in the NASH therapeutic area (TA) - for its Phase 2a top line data for TERN-501 (THR-B Agonist) alone and in combo with TERN-101 (FXR Agonist) (DUET trial). Other bios focusing on NASH ($AKRO $MDGL $ETNB $VKTX) have moved well post-NASH-data reporting.
  • woodman: $TERN itching to move out of high consolidation. Seems to be getting pulled by the momentum of others in the NASH therapeutic area (TA). See $VKTX $MDGL and perhaps $ETNB.
  • roddog101: @woodman $TERN $VKTX $MDGL $ETNB how long can these keep running? we talking co that dont even have drug to market yet, man they are red hot tho
  • woodman: @roddog101 $TERN $VKTX $MDGL $ETNB - Big Pharma has taken quite an interest in and buying companies with Phase 2 assets in big markets. I think that, in part, is putting wind in VKTX's sails (along with very early Obesity data and other stuff in their pipeline). If the Phase 2b data for its NASH candidate are good, there will be even more speculation that it's an acquisition target.
  • woodman: $TERN $VKTX $MDGL $ETNB - $MRK just bought Prometheus (immunology) before Phase 3 has started. I think there was another recent acquisition of a company with a Phase 2 drug.
  • woodman: $TERN $VKTX $MDGL $ETNB - Bellus was just bought by $GSK which has results through Phase 2, and now is in Phase 3 with no results due this year.
  • roddog101: @woodman $TERN $VKTX $MDGL $ETNB any idea when $VKTX data is coming out? best case worse case scenario?
  • woodman: $TERN $VKTX $MDGL $ETNB - I think it's shortsighted to view VKTX as simply NASH, or even simply as NASH and obesity. They have a lot in the pipeline. An acquiring company would be getting a number of potential assets - 6 programs, 3 or which are in phase 2.
  • woodman: @roddog101 $TERN $VKTX $MDGL $ETNB Coming this Q. I don't know the date. Expected to do well, and it's configuration - GLP-1 and GIP agonist) is expected to significantly lessen the side effects found in others' drug candidates (i.e. nausea and vomiting). There's a high level of excitement.
  • woodman: $ORIC (targeting multiple solid tumor cancers) and $ETNB (another one in NASH) remain strong.
  • woodman: $ETNB another company working on a NASH therapy is bouncing off the 20/50 day after a breakout in late March and pullback. BBs are still wide but volume is better than it's been the last few days.
  • woodman: $TERN another NASH stock I'm in is trying to break out. Others I'm in are $VKTX and $ETNB (I'm not in $MDGL but I should be. It's the furthest along among the NASH stocks and is expected to file NDA for accelerated approval this half of the year).
  • woodman: $ETNB $VKTX - ETNB flag. It hasn't really given anything back since announcing strong Phase 2b NASH results on 3/22. I think $VKTX will do quite well when it reports on its NASH therapy next Q.
  • camaro69: $ARDX and $ETNB Near HOD thanks @woodman for these ideas
  • woodman: @camaro69 $ARDX $ETNB - My pleasure.
  • marklesparkle: @camaro69 $ARDX $ETNB Yes agreed Thanks woodman I have taken profits on 2/3rds $ARDX and trailing good job man
  • Justhanging48: @woodman $ARDX $ETNB Yes, thanks as I got in just recently, and will continue to ride. $ORMP doing very well. Made it to the low $12 resistance level you had mentioned. May take another small partial on this ride up before the close, but looking for much higher prices in Jan.
  • woodman: @Justhanging48 $ARDX $ETNB $ORMP - You made a nice pick with ORMP. I thank you for that one.
  • sierramp: @woodman $ARDX $ETNB $PDSB $AMLX $ORMP $VKTX $DAWN $BMRN $CPRX $NWBO $SRPT $VRTX $XFOR #Biotech Thank you for this. Can't buy them using my usual process for evaluation but very, very interesting so attempting to come up with another way to evaluate. If you have time, would you share how they pass your test?
  • woodman: @sierramp $ARDX $ETNB $PDSB $AMLX $ORMP $VKTX $DAWN $BMRN $CPRX $NWBO $SRPT $VRTX $XFOR #Biotech - Catalysts (trial data due; FDA decisions due, etc.), important therapeutic areas and potential moats, interesting combos with established companies and institutions, strong interest by people I respect. Not all of these necessarily apply to each and every one, but some of these elements apply to each. Not an exhaustive list, but what instantly came to mind. Fwiw, I provided a small bit of color on most of these in a prior recent post here that you can search for. The chart is a factor, but to a more limited extent - less so than my ordinary trading MO.
  • pperlroth: @woodman $ARDX $ETNB $PDSB $AMLX $ORMP $VKTX $DAWN $BMRN $CPRX $NWBO $SRPT $VRTX $XFOR #Biotech These are great! Thank you for sharing as I often look to this industry as the payouts can be massive given potential takeovers AND potential FDA approvals for new drugs/therapies.
  • woodman: $VKTX @Steve71 - I chased and bought this today. Small because it's so extended. But up it goes again. Getting a bounce in other NASH stocks too. $ETNB (long) $MDGL (np).
  • marklesparkle: @woodman $VKTX $ETNB $MDGL $AKRO is another NASH which I just got shaken out of today for small profit even as I'm saying theres nothing wrong with it. But not afraid to jump back in on a PB now
  • woodman: Updated list of #Biotech that I'm currently in ($$ amounts vary; not in any particular order): $ARDX $ETNB $PDSB $AMLX $ORMP $VKTX $DAWN $BMRN $CPRX $NWBO $SRPT $VRTX $XFOR (bought today).
  • woodman: $VKTX - @steve71, have you looked into this biotech? Very interesting, especially with $MDGL's recent P3 success on its NASH drug. VKTX's NASH candidate, though only in Phase 2b, could be even better than MDGL's. VKTX flew higher in sympathy on the MDGL news. VKTX has other drug candidates in the pipeline as well. https://vikingtherapeutics.com/pipeline/overview/ I think VKTX can go much higher, though I'd like to see a pullback after such a jump higher. It has multiple catalysts 1H2023. ($MDGL, btw, may be a buyout candidate now.) $ETNB is another in the NAHS area (I'm still holding this one from the 7s and 8s, though did sell a little in the 10s). NP currently in MDGL or VKTX though I intend to start a position in VKTX at some point and keeping an eye on both.
  • woodman: $ETNB - keep an eye out for this next week to see how far it pulls back to test the breakout this week and then look for the move back up.
  • woodman: @traderdl $MDGL - Keeps going. $VKTX in sympathy. $ETNB, which I'm still in, is taking a little breather, but showing life again as I type (also in sympathy).
  • woodman: Current #biotech and Big #Pharma that I'm in: $ARDX (gift drop 2 days ago; catalyst with news likely in January - see my prior posts) $CPRX (keeps going) $ORMP (strong today; catalyst into January for P3 results for oral insulin; also, CEO just talke ...
  • woodman: $ETNB - this is holding up well, but I did trim some just now. This gave a gift drop yesterday on news from another company's successful data presented yesterday. Despite my trimming, ETNB has a catalyst with Phase 2 data on its NASH therapeutic due in 1Q23, perhaps in January.
  • woodman: $ETNB off to the races again....
  • woodman: $ETNB - One I recently mentioned. Well, it got thwacked this morning on good news from $MDGL. I had a small position in ETNB, which I doubled up on with the morning's thwacking. It still has a place in the therapeutic area, I think. It's up about 14% from the bottom of this morning's big move down.
  • woodman: $ETNB up ~24% off the bottom. It's up above 20d now, gunning for the 21dEMA.
  • woodman: $ETNB - wow, up almost 40% from bottom now!
  • camaro69: @woodman $ETNB nice trading! Thanks for the heads up this am. I missed it. np
  • woodman: $ETNB - holding its breakout.
  • woodman: $ETNB - mentioned this and its a catalyst on Monday. I'm trimming a little.
  • woodman: $ETNB interesting here on the rising 50d. It's a biotech with phase 2 data due 1Q (perhaps January?) for its therapy for non-alcoholic steatohepatitis (NASH) - a fatty liver disease. I can't weigh in on the chances of phase 2 success, but it could be a catalyst leading into it.
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Stock Price $14.96
Change 85.15%
Volume 84,790,100

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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