Abeona Therapeutics Inc. (NASDAQ:ABEO)’s share price was down 9.3% on Thursday . The stock traded as low as $17.45 and last traded at $17.55. Approximately 1,809,143 shares changed hands during trading, an increase of 79% from the average daily volume of 1,010,060 shares. The stock had previously closed at $19.35.
Several equities analysts have weighed in on ABEO shares. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Abeona Therapeutics in a report on Thursday, August 24th. BidaskClub downgraded shares of Abeona Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Cantor Fitzgerald set a $21.00 target price on shares of Abeona Therapeutics and gave the stock a “buy” rating in a report on Tuesday, July 18th. Maxim Group reissued a “buy” rating and issued a $17.00 target price (up previously from $14.00) on shares of Abeona Therapeutics in a report on Tuesday, July 18th. Finally, Zacks Investment Research raised shares of Abeona Therapeutics from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. Abeona Therapeutics presently has a consensus rating of “Buy” and an average price target of $21.44.
The company has a 50-day moving average price of $15.16 and a 200-day moving average price of $8.64. The company’s market cap is $707.04 million.
Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Tuesday, August 15th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). Abeona Therapeutics had a negative net margin of 2,746.38% and a negative return on equity of 26.66%. The business had revenue of $0.22 million for the quarter, compared to analysts’ expectations of $0.21 million. On average, equities analysts predict that Abeona Therapeutics Inc. will post ($0.70) EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABEO. Family Management Corp acquired a new stake in Abeona Therapeutics during the first quarter valued at $120,000. State of Wisconsin Investment Board acquired a new stake in Abeona Therapeutics during the second quarter valued at $122,000. Rhumbline Advisers acquired a new stake in Abeona Therapeutics during the second quarter valued at $190,000. Bank of New York Mellon Corp boosted its position in Abeona Therapeutics by 125.8% during the first quarter. Bank of New York Mellon Corp now owns 41,929 shares of the biopharmaceutical company’s stock valued at $210,000 after purchasing an additional 23,358 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. acquired a new stake in Abeona Therapeutics during the second quarter valued at $264,000. 38.38% of the stock is owned by hedge funds and other institutional investors.
About Abeona Therapeutics
Abeona Therapeutics Inc is a clinical-stage biopharmaceutical company developing novel gene therapies for life-threatening rare genetic diseases. The Company’s lead programs include ABO-102 (AAV-SGSH), an adeno-associated virus (AAV) based gene therapy for Sanfilippo syndrome type A (MPS IIIA) and EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB).
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