Abeona Therapeutics (NASDAQ:ABEO) had its price target cut by Royal Bank of Canada to $16.00 in a research report report published on Tuesday, The Fly reports. They currently have a positive rating on the biopharmaceutical company’s stock. The analysts noted that the move was a valuation call.
Other equities research analysts also recently issued reports about the stock. ValuEngine raised shares of Abeona Therapeutics from a sell rating to a hold rating in a research note on Thursday, August 1st. HC Wainwright started coverage on shares of Abeona Therapeutics in a research note on Monday. They issued a buy rating and a $15.00 price target on the stock. Zacks Investment Research raised shares of Abeona Therapeutics from a sell rating to a hold rating in a research note on Tuesday, July 30th. Maxim Group reaffirmed a buy rating on shares of Abeona Therapeutics in a research note on Wednesday, May 1st. Finally, Mizuho downgraded shares of Abeona Therapeutics from a buy rating to a neutral rating and cut their target price for the stock from $17.00 to $4.00 in a research note on Friday, July 26th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $19.67.
NASDAQ:ABEO opened at $2.17 on Tuesday. The company has a current ratio of 2.54, a quick ratio of 3.35 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average is $3.54 and its two-hundred day moving average is $6.08. Abeona Therapeutics has a 1-year low of $2.12 and a 1-year high of $15.65.
A number of institutional investors and hedge funds have recently made changes to their positions in ABEO. Tower Research Capital LLC TRC increased its stake in Abeona Therapeutics by 434.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,719 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 7,088 shares during the period. BNP Paribas Arbitrage SA increased its stake in Abeona Therapeutics by 21,590.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,507 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 6,477 shares during the period. Ellington Management Group LLC purchased a new stake in Abeona Therapeutics during the 2nd quarter worth approximately $50,000. Trexquant Investment LP purchased a new stake in Abeona Therapeutics during the 2nd quarter worth approximately $53,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in Abeona Therapeutics during the 2nd quarter worth approximately $59,000. 63.32% of the stock is currently owned by hedge funds and other institutional investors.
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.
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