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

Shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) have been given a consensus rating of “Moderate Buy” by the five research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $21.00.

A number of brokerages have commented on ABEO. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a report on Thursday, May 28th. Roth Capital initiated coverage on shares of Abeona Therapeutics in a research report on Thursday. They issued a “buy” rating and a $17.00 target price for the company. Cantor Fitzgerald upped their price target on shares of Abeona Therapeutics from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday. Oppenheimer reaffirmed an “outperform” rating and set a $21.00 price target (down from $22.00) on shares of Abeona Therapeutics in a research report on Friday, August 14th. Finally, Wall Street Zen upgraded shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st.

Abeona Therapeutics Price Performance

Shares of ABEO opened at $5.59 on Friday. The company’s 50-day moving average is $6.30 and its 200-day moving average is $5.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.63 and a quick ratio of 6.40. The firm has a market capitalization of $319.64 million, a PE ratio of -5.13 and a beta of 1.33. Abeona Therapeutics has a fifty-two week low of $4.00 and a fifty-two week high of $7.65.

Abeona Therapeutics (NASDAQ:ABEO) last announced its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The firm had revenue of $11.38 million during the quarter, compared to the consensus estimate of $12.24 million. Equities analysts forecast that Abeona Therapeutics will post -0.93 EPS for the current year.

Insider Activity at Abeona Therapeutics

In other Abeona Therapeutics news, SVP Brendan O’Malley sold 12,050 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $6.96, for a total value of $83,868.00. Following the sale, the senior vice president owned 427,953 shares of the company’s stock, valued at approximately $2,978,552.88. This trade represents a 2.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mark Alvino sold 15,000 shares of Abeona Therapeutics stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $5.86, for a total value of $87,900.00. Following the completion of the transaction, the director owned 62,065 shares in the company, valued at approximately $363,700.90. This represents a 19.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 144,985 shares of company stock worth $980,520 in the last 90 days. Corporate insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On Abeona Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd bought a new position in Abeona Therapeutics in the 2nd quarter valued at approximately $256,000. Corient Private Wealth LP acquired a new position in shares of Abeona Therapeutics during the second quarter worth $556,000. Pale Fire Capital SE increased its holdings in shares of Abeona Therapeutics by 17.3% during the second quarter. Pale Fire Capital SE now owns 81,945 shares of the biopharmaceutical company’s stock worth $506,000 after buying an additional 12,100 shares in the last quarter. Headlands Technologies LLC lifted its stake in shares of Abeona Therapeutics by 97.5% in the 2nd quarter. Headlands Technologies LLC now owns 125,090 shares of the biopharmaceutical company’s stock valued at $773,000 after acquiring an additional 61,745 shares during the last quarter. Finally, AWM Investment Company Inc. bought a new position in shares of Abeona Therapeutics in the 2nd quarter valued at $9,184,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

About Abeona Therapeutics

Abeona Therapeutics Inc is a biopharmaceutical company focused on developing and commercializing cell and gene therapies for patients with serious and life-threatening genetic diseases. The company’s programs are designed to address conditions for which existing treatment options are limited or inadequate.

Abeona’s lead product, ZEVASKYN (prademagene zamikeracel, formerly EB-101), is an autologous gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa, a rare inherited disorder that causes fragile skin and chronic wounds.