Abeona Therapeutics (ABEO) Trading 12.8% Higher

Shares of Abeona Therapeutics Inc (NASDAQ:ABEO) traded up 12.8% on Thursday . The stock traded as high as $10.37 and last traded at $9.88. 985,905 shares changed hands during mid-day trading, an increase of 14% from the average session volume of 867,347 shares. The stock had previously closed at $8.76.

Several analysts recently weighed in on the stock. Cantor Fitzgerald reissued a “buy” rating and issued a $36.00 price objective on shares of Abeona Therapeutics in a research note on Saturday, August 11th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Abeona Therapeutics in a research report on Thursday, September 13th. BidaskClub raised shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Zacks Investment Research cut shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. Finally, ValuEngine cut shares of Abeona Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $25.90.

The stock has a market cap of $419.98 million, a P/E ratio of -14.18 and a beta of 1.77.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Friday, August 10th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.06). The firm had revenue of $0.82 million for the quarter, compared to the consensus estimate of $1.81 million. Abeona Therapeutics had a negative net margin of 881.74% and a negative return on equity of 23.02%. As a group, research analysts expect that Abeona Therapeutics Inc will post -0.88 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of ABEO. Northern Trust Corp raised its holdings in shares of Abeona Therapeutics by 1.3% during the first quarter. Northern Trust Corp now owns 304,434 shares of the biopharmaceutical company’s stock valued at $4,369,000 after purchasing an additional 3,941 shares during the period. BlackRock Inc. raised its holdings in shares of Abeona Therapeutics by 0.3% during the first quarter. BlackRock Inc. now owns 1,873,472 shares of the biopharmaceutical company’s stock valued at $26,884,000 after purchasing an additional 5,094 shares during the period. UBS Group AG raised its holdings in shares of Abeona Therapeutics by 36.5% during the first quarter. UBS Group AG now owns 152,081 shares of the biopharmaceutical company’s stock valued at $2,182,000 after purchasing an additional 40,680 shares during the period. Fortaleza Asset Management Inc. acquired a new position in shares of Abeona Therapeutics during the second quarter valued at about $104,000. Finally, TD Asset Management Inc. raised its holdings in shares of Abeona Therapeutics by 151.4% during the second quarter. TD Asset Management Inc. now owns 81,691 shares of the biopharmaceutical company’s stock valued at $1,307,000 after purchasing an additional 49,200 shares during the period. 76.38% of the stock is currently owned by institutional investors and hedge funds.

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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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