Abeona Therapeutics (NASDAQ:ABEO) Stock Price Up 5.5%

Abeona Therapeutics Inc (NASDAQ:ABEO) was up 5.5% on Thursday . The stock traded as high as $4.78 and last traded at $4.76. Approximately 2,309,245 shares changed hands during mid-day trading, an increase of 399% from the average daily volume of 463,122 shares. The stock had previously closed at $4.51.

Several equities analysts recently weighed in on ABEO shares. Cantor Fitzgerald set a $29.00 price objective on shares of Abeona Therapeutics and gave the company a “buy” rating in a report on Tuesday, March 19th. BidaskClub upgraded shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Thursday, May 9th. Mizuho started coverage on shares of Abeona Therapeutics in a report on Wednesday. They issued a “buy” rating on the stock. HC Wainwright set a $23.00 price objective on shares of Abeona Therapeutics and gave the company a “buy” rating in a report on Tuesday, May 28th. Finally, ValuEngine upgraded shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $24.60.

The stock’s fifty day moving average is $5.91. The firm has a market cap of $234.99 million, a price-to-earnings ratio of -4.02 and a beta of 2.13. The company has a quick ratio of 3.35, a current ratio of 3.35 and a debt-to-equity ratio of 0.06.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Friday, May 10th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.08). Abeona Therapeutics had a negative net margin of 960.91% and a negative return on equity of 45.58%. On average, research analysts anticipate that Abeona Therapeutics Inc will post -1.6 earnings per share for the current fiscal year.

In other Abeona Therapeutics news, Director Stefano Buono acquired 70,000 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were acquired at an average cost of $7.80 per share, for a total transaction of $546,000.00. Following the completion of the acquisition, the director now directly owns 20,980 shares of the company’s stock, valued at approximately $163,644. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen B. Howell bought 4,000 shares of the business’s stock in a transaction on Monday, April 8th. The stock was purchased at an average price of $7.77 per share, for a total transaction of $31,080.00. Following the completion of the acquisition, the director now owns 6,000 shares of the company’s stock, valued at approximately $46,620. The disclosure for this purchase can be found here. Corporate insiders own 33.60% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA raised its holdings in Abeona Therapeutics by 21,590.0% in the first quarter. BNP Paribas Arbitrage SA now owns 6,507 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 6,477 shares during the period. Metropolitan Life Insurance Co. NY raised its holdings in Abeona Therapeutics by 247.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,194 shares of the biopharmaceutical company’s stock worth $73,000 after purchasing an additional 7,258 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Abeona Therapeutics by 178.9% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,237 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 11,698 shares during the period. SG Americas Securities LLC raised its holdings in Abeona Therapeutics by 23.7% in the fourth quarter. SG Americas Securities LLC now owns 22,720 shares of the biopharmaceutical company’s stock worth $162,000 after purchasing an additional 4,351 shares during the period. Finally, Bank of America Corp DE raised its holdings in Abeona Therapeutics by 440.5% in the fourth quarter. Bank of America Corp DE now owns 26,689 shares of the biopharmaceutical company’s stock worth $190,000 after purchasing an additional 21,751 shares during the period. Institutional investors own 63.61% of the company’s stock.

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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