Abeona Therapeutics Inc (NASDAQ:ABEO) Given Average Rating of “Buy” by Analysts

Abeona Therapeutics Inc (NASDAQ:ABEO) has earned an average rating of “Buy” from the five analysts that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have covered the stock in the last year is $19.25.

ABEO has been the subject of several research analyst reports. HC Wainwright lifted their target price on shares of Abeona Therapeutics from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Alliance Global Partners reiterated a “buy” rating on shares of Abeona Therapeutics in a research report on Thursday, May 15th. Wall Street Zen lowered shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, May 15th. Oppenheimer initiated coverage on shares of Abeona Therapeutics in a research report on Monday, June 2nd. They set an “outperform” rating and a $19.00 target price for the company. Finally, Stifel Nicolaus dropped their target price on shares of Abeona Therapeutics from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, May 16th.

Insider Transactions at Abeona Therapeutics

In other news, Director Mark Alvino sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $5.68, for a total value of $45,440.00. Following the completion of the sale, the director now directly owns 92,435 shares in the company, valued at approximately $525,030.80. The trade was a 7.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vishwas Seshadri sold 50,676 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $6.76, for a total transaction of $342,569.76. Following the completion of the sale, the chief executive officer now owns 1,303,761 shares of the company’s stock, valued at approximately $8,813,424.36. The trade was a 3.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,941 shares of company stock worth $711,341. 6.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ABEO. Twinbeech Capital LP bought a new position in Abeona Therapeutics in the 4th quarter worth $58,000. Squarepoint Ops LLC purchased a new position in shares of Abeona Therapeutics during the fourth quarter valued at about $67,000. Cannon Global Investment Management LLC purchased a new position in shares of Abeona Therapeutics during the first quarter valued at about $67,000. Oxford Asset Management LLP purchased a new position in shares of Abeona Therapeutics during the fourth quarter valued at about $118,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Abeona Therapeutics during the fourth quarter valued at about $190,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Abeona Therapeutics Price Performance

ABEO stock opened at $6.24 on Friday. The firm has a 50 day moving average of $5.69 and a 200-day moving average of $5.59. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.31. Abeona Therapeutics has a 12 month low of $3.93 and a 12 month high of $7.32. The firm has a market capitalization of $319.22 million, a P/E ratio of -2.32 and a beta of 1.54.

Abeona Therapeutics (NASDAQ:ABEO) last announced its earnings results on Thursday, May 15th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.11. As a group, sell-side analysts predict that Abeona Therapeutics will post -1.16 earnings per share for the current fiscal year.

Abeona Therapeutics Company Profile

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.