HC Wainwright Has Lowered Expectations for Abeona Therapeutics (NASDAQ:ABEO) Stock Price

Abeona Therapeutics (NASDAQ:ABEO – Get Free Report) had its price objective lowered by HC Wainwright from $20.00 to $18.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock.

Other equities analysts also recently issued research reports about the company. Wall Street Zen upgraded Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. UBS Group reiterated a “buy” rating on shares of Abeona Therapeutics in a research report on Friday, September 25th. Weiss Ratings downgraded Abeona Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday. Cantor Fitzgerald raised their price objective on Abeona Therapeutics from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, September 18th. Finally, Oppenheimer restated an “outperform” rating and issued a $21.00 price objective (down from $22.00) on shares of Abeona Therapeutics in a report on Friday, August 14th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.60.

Read Our Latest Stock Analysis on Abeona Therapeutics

Abeona Therapeutics Trading Down 6.1%

Shares of Abeona Therapeutics stock opened at $2.30 on Thursday. Abeona Therapeutics has a twelve month low of $2.24 and a twelve month high of $7.65. The firm has a market capitalization of $131.44 million, a PE ratio of -2.15 and a beta of 1.50. The firm’s 50-day moving average price is $4.84 and its 200 day moving average price is $5.42.

Abeona Therapeutics (NASDAQ:ABEO – Get Free Report) last posted its quarterly earnings data on Monday, November 9th. The biopharmaceutical company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.09. Abeona Therapeutics had a negative return on equity of 44.82% and a negative net margin of 160.30%. The company had revenue of $13.49 million during the quarter, compared to analyst estimates of $14.82 million. On average, sell-side analysts predict that Abeona Therapeutics will post -0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mark Alvino sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $5.86, for a total value of $87,900.00. Following the completion of the sale, the director directly owned 62,065 shares in the company, valued at $363,700.90. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Madhav Vasanthavada sold 4,902 shares of the stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $5.16, for a total value of $25,294.32. Following the completion of the sale, the insider directly owned 285,721 shares of the company’s stock, valued at approximately $1,474,320.36. This represents a 1.69% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 55,428 shares of company stock worth $296,508. 7.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Abeona Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC boosted its stake in Abeona Therapeutics by 1,026.2% during the third quarter. Global Retirement Partners LLC now owns 4,978 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 4,536 shares during the last quarter. Royal Bank of Canada grew its holdings in Abeona Therapeutics by 49.6% in the 1st quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 2,155 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Abeona Therapeutics in the 1st quarter worth $154,000. WINTON GROUP Ltd acquired a new stake in shares of Abeona Therapeutics in the 2nd quarter worth $256,000. Finally, Rangeley Capital LLC increased its stake in shares of Abeona Therapeutics by 4.2% in the 1st quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company’s stock worth $269,000 after acquiring an additional 2,400 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Abeona Therapeutics Company Profile

(Get Free Report)

Abeona Therapeutics, Inc. is a biotechnology company focused on developing cell and gene therapies for serious and rare diseases. Its work includes treatments designed to address the underlying genetic causes of disease. The company’s lead product, ZEVASKYN (prademagene zamikeracel), is an autologous gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa, a rare inherited skin disorder. Made from a patient’s skin cells, the therapy uses genetic modification to help cells produce type VII collagen and is applied to wounds.

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Analyst Recommendations for Abeona Therapeutics (NASDAQ:ABEO)

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