Abeona Therapeutics Inc. (ABEO) Shares Down 5.6%
Shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) were down 5.6% during mid-day trading on Wednesday . The company traded as low as $13.04 and last traded at $13.40. Approximately 1,350,118 shares traded hands during mid-day trading, an increase of 82% from the average daily volume of 742,836 shares. The stock had previously closed at $14.20.
A number of analysts have issued reports on ABEO shares. Cantor Fitzgerald reissued a “buy” rating and issued a $21.00 price objective on shares of Abeona Therapeutics in a report on Friday, May 12th. Maxim Group set a $14.00 price objective on shares of Abeona Therapeutics and gave the company a “buy” rating in a report on Saturday, May 13th. FBR & Co reissued a “buy” rating on shares of Abeona Therapeutics in a report on Friday, May 26th. Jefferies Group LLC reissued a “buy” rating and issued a $11.00 price objective on shares of Abeona Therapeutics in a report on Thursday, June 1st. Finally, Zacks Investment Research raised shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $17.86.
The firm has a 50 day moving average price of $9.13 and a 200 day moving average price of $6.54. The stock’s market capitalization is $539.85 million.
Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings data on Tuesday, August 15th. The biopharmaceutical company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.14) by $0.07. The firm had revenue of $0.22 million for the quarter, compared to analysts’ expectations of $0.21 million. Abeona Therapeutics had a negative net margin of 2,746.38% and a negative return on equity of 26.66%. On average, analysts forecast that Abeona Therapeutics Inc. will post ($0.67) earnings per share for the current year.
Large investors have recently modified their holdings of the stock. Private Advisor Group LLC grew its stake in Abeona Therapeutics by 50.0% during the first quarter. Private Advisor Group LLC now owns 21,005 shares of the biopharmaceutical company’s stock valued at $108,000 after acquiring an additional 6,999 shares in the last quarter. Family Management Corp purchased a new position in Abeona Therapeutics during the first quarter valued at approximately $120,000. State of Wisconsin Investment Board purchased a new position in Abeona Therapeutics during the second quarter valued at approximately $122,000. Segantii Capital Management Ltd grew its stake in Abeona Therapeutics by 564.6% during the first quarter. Segantii Capital Management Ltd now owns 33,894 shares of the biopharmaceutical company’s stock valued at $169,000 after acquiring an additional 28,794 shares in the last quarter. Finally, Rhumbline Advisers purchased a new position in Abeona Therapeutics during the second quarter valued at approximately $190,000. 38.24% of the stock is owned by institutional investors.
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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).