Abeona Therapeutics’ (ABEO) “Hold (C-)” Rating Reiterated at Weiss Ratings

Weiss Ratings restated their hold (c-) rating on shares of Abeona Therapeutics (NASDAQ:ABEO) in a research note published on Wednesday,Weiss Ratings reports.

Several other brokerages have also commented on ABEO. Oppenheimer boosted their price objective on Abeona Therapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, August 15th. HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Abeona Therapeutics in a report on Monday, August 18th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

Abeona Therapeutics Trading Down 5.3%

Shares of ABEO opened at $5.36 on Wednesday. The business has a 50-day moving average of $6.24 and a 200 day moving average of $5.93. Abeona Therapeutics has a fifty-two week low of $3.93 and a fifty-two week high of $7.54. The firm has a market cap of $274.86 million, a P/E ratio of 7.66 and a beta of 1.42. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.65 and a current ratio of 6.73.

Abeona Therapeutics (NASDAQ:ABEO) last posted its earnings results on Thursday, August 14th. The biopharmaceutical company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $2.10. The company had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $21.71 million. As a group, research analysts forecast that Abeona Therapeutics will post -1.16 EPS for the current year.

Insider Activity

In other news, SVP Brendan M. O’malley sold 9,366 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $5.39, for a total transaction of $50,482.74. Following the transaction, the senior vice president directly owned 350,763 shares of the company’s stock, valued at approximately $1,890,612.57. The trade was a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vishwas Seshadri sold 25,000 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $5.24, for a total value of $131,000.00. Following the completion of the sale, the chief executive officer directly owned 1,190,067 shares in the company, valued at approximately $6,235,951.08. The trade was a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,865 shares of company stock valued at $347,777. Company insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Abeona Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new position in shares of Abeona Therapeutics during the fourth quarter valued at $67,000. Cannon Global Investment Management LLC bought a new position in Abeona Therapeutics in the first quarter valued at about $67,000. Wellington Management Group LLP lifted its holdings in Abeona Therapeutics by 64.1% in the first quarter. Wellington Management Group LLP now owns 153,121 shares of the biopharmaceutical company’s stock valued at $729,000 after acquiring an additional 59,832 shares during the period. OMERS ADMINISTRATION Corp raised its stake in shares of Abeona Therapeutics by 11.0% in the first quarter. OMERS ADMINISTRATION Corp now owns 72,200 shares of the biopharmaceutical company’s stock worth $344,000 after buying an additional 7,155 shares during the period. Finally, Trexquant Investment LP raised its stake in shares of Abeona Therapeutics by 74.1% in the first quarter. Trexquant Investment LP now owns 119,274 shares of the biopharmaceutical company’s stock worth $568,000 after buying an additional 50,758 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

About Abeona Therapeutics

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.