Abeona Therapeutics Inc (NASDAQ:ABEO) Given Average Rating of “Buy” by Brokerages

Abeona Therapeutics Inc (NASDAQ:ABEO) has received an average rating of “Buy” from the five brokerages that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $18.50.

ABEO has been the topic of several analyst reports. HC Wainwright upped their target price on Abeona Therapeutics from $15.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Wall Street Zen cut Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, May 15th. Alliance Global Partners reiterated a “buy” rating on shares of Abeona Therapeutics in a report on Thursday, May 15th. Stifel Nicolaus reduced their target price on Abeona Therapeutics from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, May 16th. Finally, Oppenheimer began coverage on Abeona Therapeutics in a report on Wednesday, March 5th. They set an “outperform” rating and a $16.00 price target on the stock.

Insiders Place Their Bets

In other Abeona Therapeutics news, Director Mark Alvino sold 8,000 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $5.68, for a total transaction of $45,440.00. Following the transaction, the director now directly owns 92,435 shares in the company, valued at approximately $525,030.80. This represents a 7.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vishwas Seshadri sold 25,000 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $4.78, for a total value of $119,500.00. Following the transaction, the chief executive officer now owns 1,355,322 shares in the company, valued at $6,478,439.16. The trade was a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Abeona Therapeutics

Institutional investors have recently modified their holdings of the company. Twinbeech Capital LP acquired a new position in shares of Abeona Therapeutics during the fourth quarter worth approximately $58,000. Squarepoint Ops LLC acquired a new position in shares of Abeona Therapeutics during the fourth quarter worth approximately $67,000. Cannon Global Investment Management LLC acquired a new position in shares of Abeona Therapeutics during the first quarter worth approximately $67,000. Oxford Asset Management LLP acquired a new position in shares of Abeona Therapeutics during the fourth quarter worth approximately $118,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Abeona Therapeutics during the fourth quarter worth approximately $190,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Abeona Therapeutics Stock Performance

Shares of ABEO stock opened at $6.42 on Monday. The business’s 50 day simple moving average is $5.29 and its 200 day simple moving average is $5.56. Abeona Therapeutics has a one year low of $3.93 and a one year high of $7.32. The stock has a market capitalization of $328.43 million, a PE ratio of -2.39 and a beta of 1.68. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.12 and a quick ratio of 6.12.

Abeona Therapeutics (NASDAQ:ABEO) last announced its earnings results on Thursday, May 15th. The biopharmaceutical company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.11. As a group, research analysts forecast that Abeona Therapeutics will post -1.16 earnings per share for the current year.

About Abeona Therapeutics

Abeona Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and delivering gene therapy products for severe and life-threatening rare diseases. The company's lead programs are EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB); ABO-102, which are AAV based gene therapies for Sanfilippo syndrome type A; and ABO-101, an adeno-associated virus (AAV) based gene therapies for Sanfilippo syndrome type B.