Abeona Therapeutics Inc (NASDAQ:ABEO) shares rose 12.8% on Thursday . The company traded as high as $10.37 and last traded at $9.88. Approximately 985,905 shares changed hands during trading, an increase of 14% from the average daily volume of 867,347 shares. The stock had previously closed at $8.76.
ABEO has been the subject of a number of analyst reports. Cantor Fitzgerald set a $36.00 price objective on Abeona Therapeutics and gave the company a “buy” rating in a research report on Friday, August 17th. Zacks Investment Research raised Abeona Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. Maxim Group reissued a “buy” rating and issued a $26.00 target price on shares of Abeona Therapeutics in a report on Monday. BidaskClub lowered Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Finally, ValuEngine lowered Abeona Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $25.90.
The firm has a market capitalization of $428.61 million, a P/E ratio of -14.97 and a beta of 1.77.
Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Abeona Therapeutics by 47.7% in the 2nd quarter. FMR LLC now owns 7,094,307 shares of the biopharmaceutical company’s stock worth $113,509,000 after buying an additional 2,291,016 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Abeona Therapeutics by 16.6% in the 2nd quarter. BlackRock Inc. now owns 2,184,506 shares of the biopharmaceutical company’s stock worth $34,951,000 after buying an additional 311,034 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Abeona Therapeutics by 5.3% in the 2nd quarter. Millennium Management LLC now owns 964,839 shares of the biopharmaceutical company’s stock worth $15,437,000 after buying an additional 48,583 shares during the last quarter. Nexthera Capital LP boosted its stake in shares of Abeona Therapeutics by 69.6% in the 2nd quarter. Nexthera Capital LP now owns 626,804 shares of the biopharmaceutical company’s stock worth $10,029,000 after buying an additional 257,304 shares during the last quarter. Finally, PointState Capital LP purchased a new position in shares of Abeona Therapeutics in the 2nd quarter worth $9,210,000. Hedge funds and other institutional investors own 76.38% of the company’s stock.
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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.
Further Reading: Understanding Price to Earnings Ratio (PE)
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