Shares of Abeona Therapeutics Inc (NASDAQ:ABEO) dropped 7.6% during trading on Tuesday . The stock traded as low as $15.25 and last traded at $15.30. Approximately 737,100 shares changed hands during mid-day trading, an increase of 17% from the average daily volume of 628,438 shares. The stock had previously closed at $16.55.

ABEO has been the subject of several research reports. Zacks Investment Research downgraded shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. HC Wainwright restated a “buy” rating and set a $30.00 price objective (up previously from $20.00) on shares of Abeona Therapeutics in a research report on Monday, October 9th. Royal Bank Of Canada started coverage on shares of Abeona Therapeutics in a research report on Thursday, September 14th. They set an “outperform” rating and a $23.00 price objective for the company. Maxim Group set a $17.00 price objective on shares of Abeona Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $21.00 price objective on shares of Abeona Therapeutics in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. Abeona Therapeutics has an average rating of “Buy” and a consensus target price of $26.10.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Wednesday, November 15th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.05. Abeona Therapeutics had a negative net margin of 2,946.58% and a negative return on equity of 27.69%. The business had revenue of $0.22 million for the quarter, compared to analyst estimates of $0.22 million. research analysts expect that Abeona Therapeutics Inc will post -0.6 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. State of Wisconsin Investment Board acquired a new position in shares of Abeona Therapeutics during the second quarter worth approximately $122,000. Rhumbline Advisers bought a new position in shares of Abeona Therapeutics during the second quarter worth about $190,000. Bank of New York Mellon Corp grew its holdings in shares of Abeona Therapeutics by 125.8% during the first quarter. Bank of New York Mellon Corp now owns 41,929 shares of the biopharmaceutical company’s stock worth $210,000 after buying an additional 23,358 shares in the last quarter. Schwab Charles Investment Management Inc. bought a new position in shares of Abeona Therapeutics during the second quarter worth about $264,000. Finally, California State Teachers Retirement System bought a new position in shares of Abeona Therapeutics during the second quarter worth about $275,000. 41.95% of the stock is owned by institutional investors and hedge funds.

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Abeona Therapeutics Company Profile

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).

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