Abeona Therapeutics (ABEO) Stock Price Down 8.1%

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Abeona Therapeutics Inc (NASDAQ:ABEO) dropped 8.1% on Thursday . The company traded as low as $13.60 and last traded at $13.70. Approximately 579,066 shares changed hands during trading, a decline of 37% from the average daily volume of 924,046 shares. The stock had previously closed at $14.90.

ABEO has been the subject of a number of recent research reports. Zacks Investment Research raised Abeona Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. HC Wainwright set a $30.00 price target on Abeona Therapeutics and gave the stock a “buy” rating in a research note on Monday, August 13th. BidaskClub downgraded Abeona Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, July 26th. Maxim Group reaffirmed a “buy” rating and set a $35.00 price target on shares of Abeona Therapeutics in a research note on Friday, August 10th. Finally, ValuEngine raised Abeona Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company’s stock. Abeona Therapeutics currently has an average rating of “Buy” and an average price target of $28.30.

The company has a market cap of $656.82 million, a price-to-earnings ratio of -20.68 and a beta of 1.22.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings data on Friday, August 10th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.06). Abeona Therapeutics had a negative net margin of 881.74% and a negative return on equity of 23.02%. The company had revenue of $0.82 million during the quarter, compared to the consensus estimate of $1.81 million. sell-side analysts expect that Abeona Therapeutics Inc will post -0.79 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in shares of Abeona Therapeutics by 47.7% in the 2nd quarter. FMR LLC now owns 7,094,307 shares of the biopharmaceutical company’s stock valued at $113,509,000 after acquiring an additional 2,291,016 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Abeona Therapeutics by 120.3% in the 2nd quarter. California Public Employees Retirement System now owns 55,508 shares of the biopharmaceutical company’s stock valued at $888,000 after acquiring an additional 30,316 shares in the last quarter. Millennium Management LLC raised its stake in shares of Abeona Therapeutics by 5.3% in the 2nd quarter. Millennium Management LLC now owns 964,839 shares of the biopharmaceutical company’s stock valued at $15,437,000 after acquiring an additional 48,583 shares in the last quarter. Nexthera Capital LP raised its stake in shares of Abeona Therapeutics by 69.6% in the 2nd quarter. Nexthera Capital LP now owns 626,804 shares of the biopharmaceutical company’s stock valued at $10,029,000 after acquiring an additional 257,304 shares in the last quarter. Finally, PointState Capital LP bought a new position in shares of Abeona Therapeutics in the 2nd quarter valued at approximately $9,210,000. 76.24% of the stock is currently owned by institutional investors and hedge funds.

About Abeona Therapeutics (NASDAQ:ABEO)

Abeona Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and delivering gene therapy products for severe and life-threatening rare diseases. The company's lead programs are EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB); ABO-102, which are AAV based gene therapies for Sanfilippo syndrome type A; and ABO-101, an adeno-associated virus (AAV) based gene therapies for Sanfilippo syndrome type B.

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