Abeona Therapeutics (NASDAQ:ABEO) Shares Gap Up to $4.76

Shares of Abeona Therapeutics Inc (NASDAQ:ABEO) gapped up before the market opened on Friday . The stock had previously closed at $4.85, but opened at $4.76. Abeona Therapeutics shares last traded at $4.78, with a volume of 9,908 shares traded.

ABEO has been the subject of a number of research analyst reports. Mizuho initiated coverage on shares of Abeona Therapeutics in a research report on Wednesday. They set a “buy” rating for the company. HC Wainwright set a $23.00 price objective on shares of Abeona Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $29.00 price objective on shares of Abeona Therapeutics in a research report on Tuesday, May 14th. Maxim Group reaffirmed a “buy” rating on shares of Abeona Therapeutics in a research report on Wednesday, May 1st. Finally, Zacks Investment Research raised shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $24.60.

The firm’s 50-day moving average price is $5.91. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.35 and a current ratio of 3.35.

Abeona Therapeutics (NASDAQ:ABEO) last announced its earnings results on Friday, May 10th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, missing the Zacks’ 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, equities 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 bought 70,000 shares of Abeona Therapeutics stock in a transaction dated Thursday, April 11th. The stock was bought at an average price of $7.80 per share, with a total value of $546,000.00. Following the completion of the transaction, the director now owns 20,980 shares in the company, valued at approximately $163,644. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen B. Howell bought 4,000 shares of Abeona Therapeutics stock in a transaction dated Monday, April 8th. The stock was acquired at an average cost of $7.77 per share, with a total value of $31,080.00. Following the transaction, 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. Insiders own 33.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in ABEO. BNP Paribas Arbitrage SA raised its stake 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 valued at $48,000 after purchasing an additional 6,477 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake 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 valued at $73,000 after purchasing an additional 7,258 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake 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 valued at $121,000 after purchasing an additional 11,698 shares in the last quarter. SG Americas Securities LLC raised its stake 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 valued at $162,000 after purchasing an additional 4,351 shares in the last quarter. Finally, Bank of America Corp DE raised its stake 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 valued at $190,000 after purchasing an additional 21,751 shares in the last quarter. 63.61% of the stock is owned by institutional investors.

Abeona Therapeutics Company Profile (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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