Abeona Therapeutics (NASDAQ:ABEO) Earns “Buy” Rating from HC Wainwright

Abeona Therapeutics (NASDAQ:ABEO)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $20.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 287.60% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Abeona Therapeutics in a research note on Wednesday, January 21st. Oppenheimer reissued an “outperform” rating on shares of Abeona Therapeutics in a research note on Monday. Finally, Wall Street Zen downgraded Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Abeona Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Abeona Therapeutics Stock Performance

NASDAQ:ABEO opened at $5.16 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.53 and a current ratio of 9.74. The stock has a market capitalization of $279.62 million, a P/E ratio of 4.20 and a beta of 1.13. Abeona Therapeutics has a fifty-two week low of $3.93 and a fifty-two week high of $7.54. The company has a 50 day moving average price of $5.15 and a 200 day moving average price of $5.32.

Insider Buying and Selling at Abeona Therapeutics

In other Abeona Therapeutics news, Director Eric Crombez sold 16,284 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $5.09, for a total transaction of $82,885.56. Following the sale, the director directly owned 63,456 shares of the company’s stock, valued at approximately $322,991.04. This represents a 20.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christine Berni Silverstein sold 20,070 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $5.09, for a total transaction of $102,156.30. Following the completion of the transaction, the director owned 137,722 shares of the company’s stock, valued at $701,004.98. This represents a 12.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 209,605 shares of company stock valued at $1,101,300. Corporate insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Abeona Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AIGH Capital Management LLC bought a new position in Abeona Therapeutics during the fourth quarter valued at approximately $10,540,000. Boone Capital Management LLC bought a new stake in Abeona Therapeutics during the 2nd quarter valued at approximately $7,126,000. Tang Capital Management LLC acquired a new stake in shares of Abeona Therapeutics in the fourth quarter worth $5,270,000. Geode Capital Management LLC grew its position in Abeona Therapeutics by 129.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock worth $6,282,000 after purchasing an additional 623,243 shares during the last quarter. Finally, Aberdeen Group plc acquired a new stake in Abeona Therapeutics during the fourth quarter worth about $3,248,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Abeona Therapeutics Company Profile

Abeona Therapeutics is a clinical‐stage biopharmaceutical company focused on the development and commercialization of gene and cell therapies for severe, life‐threatening rare diseases and oncology indications. Founded in 2014 and headquartered in Cleveland, Ohio, Abeona leverages proprietary viral and non‐viral delivery platforms to correct or compensate for underlying genetic deficiencies. The company’s research efforts target pediatric neurodegenerative disorders as well as debilitating dermatologic conditions with high unmet medical need.

The company’s lead clinical programs include separate AAV‐based gene therapies for CLN1 and CLN3 forms of neuronal ceroid lipofuscinosis, alongside an ex vivo autologous cell therapy for recessive dystrophic epidermolysis bullosa.