Abeona Therapeutics Inc (NASDAQ:ABEO)’s stock price shot up 9.6% during mid-day trading on Wednesday . The company traded as high as $3.29 and last traded at $3.20, 900,602 shares were traded during trading. An increase of 31% from the average session volume of 687,295 shares. The stock had previously closed at $2.92.
A number of brokerages recently issued reports on ABEO. Cantor Fitzgerald downgraded Abeona Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, August 12th. Mizuho reaffirmed a “hold” rating and issued a $4.00 target price on shares of Abeona Therapeutics in a research report on Wednesday, September 4th. HC Wainwright initiated coverage on Abeona Therapeutics in a research report on Monday, August 12th. They issued a “buy” rating and a $15.00 target price for the company. Maxim Group downgraded Abeona Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Finally, Zacks Investment Research raised Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.67.
The company has a market capitalization of $159.80 million, a price-to-earnings ratio of -2.74 and a beta of 1.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.54 and a current ratio of 2.54. The firm has a 50-day simple moving average of $2.41 and a two-hundred day simple moving average of $5.35.
Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Friday, August 9th. The biopharmaceutical company reported ($0.49) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.13). Abeona Therapeutics had a negative return on equity of 59.99% and a negative net margin of 960.91%. As a group, equities analysts forecast that Abeona Therapeutics Inc will post -1.7 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Ardsley Advisory Partners LP grew its position in shares of Abeona Therapeutics by 33.3% during the second quarter. Ardsley Advisory Partners LP now owns 40,000 shares of the biopharmaceutical company’s stock worth $190,000 after buying an additional 10,000 shares in the last quarter. Keybank National Association OH acquired a new position in shares of Abeona Therapeutics during the second quarter worth about $89,000. SG Americas Securities LLC grew its position in shares of Abeona Therapeutics by 37.5% during the first quarter. SG Americas Securities LLC now owns 31,243 shares of the biopharmaceutical company’s stock worth $230,000 after buying an additional 8,523 shares in the last quarter. Fosun International Ltd grew its position in shares of Abeona Therapeutics by 37.6% during the first quarter. Fosun International Ltd now owns 98,900 shares of the biopharmaceutical company’s stock worth $719,000 after buying an additional 27,000 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Abeona Therapeutics during the second quarter worth about $96,000. 58.71% of the stock is 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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