Shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) dropped 2.5% during mid-day trading on Thursday . The company traded as low as $2.31 and last traded at $2.37, with a volume of 117,208 shares traded. The stock had previously closed at $2.43.

ABEO has been the topic of several research analyst reports. Maxim Group reaffirmed a “buy” rating on shares of Abeona Therapeutics in a research note on Tuesday, May 24th. FBR & Co reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Abeona Therapeutics in a research note on Sunday, May 22nd. Rodman & Renshaw reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Abeona Therapeutics in a research note on Wednesday, May 18th. Finally, Zacks Investment Research raised Abeona Therapeutics from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research note on Wednesday, April 27th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $11.20.

The company has a 50-day moving average of $2.72 and a 200-day moving average of $2.69. The company’s market cap is $79.36 million.

Abeona Therapeutics (NASDAQ:ABEO) last announced its earnings results on Monday, May 16th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.04. On average, equities research analysts predict that Abeona Therapeutics Inc. will post ($0.59) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Abeona Therapeutics stock. Royce & Associates LLC increased its position in Abeona Therapeutics Inc. (NASDAQ:ABEO) by 424.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 299,643 shares of the biopharmaceutical company’s stock after buying an additional 242,462 shares during the period. Royce & Associates LLC owned about 0.92% of Abeona Therapeutics worth $1,007,000 as of its most recent SEC filing.

Abeona Therapeutics, Inc develops and delivers gene therapy and plasma-based products for rare diseases. The Company’s programs include AB0-101 (AAV9 NAGLU) and ABO-102 (scAAV9 SGSH), adeno-associated virus (AAV)-based gene therapies for Sanfilippo syndrome (MPS IIIB and IIIA). It is developing ABO-201 (scAAV9 CLN3) gene therapy for juvenile Batten disease (JBD); and ABO-301 (AAV LK19 FANCC) for Fanconi anemia (FA) disorder using a novel CRISPR/Cas9-based gene editing approach to gene therapy program for rare blood diseases.

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