Abeona Therapeutics (NASDAQ:ABEO) Trading Down 6.9%

Abeona Therapeutics Inc (NASDAQ:ABEO) traded down 6.9% during mid-day trading on Thursday . The stock traded as low as $2.25 and last traded at $2.28, 508,641 shares were traded during trading. A decline of 1% from the average session volume of 512,400 shares. The stock had previously closed at $2.45.

Several analysts have issued reports on the company. Zacks Investment Research upgraded Abeona Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. HC Wainwright set a $23.00 price target on Abeona Therapeutics and gave the company a “buy” rating in a research note on Tuesday, May 28th. Maxim Group reaffirmed a “buy” rating on shares of Abeona Therapeutics in a research note on Wednesday, May 1st. ValuEngine upgraded Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, BidaskClub upgraded Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, June 17th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $22.00.

The business has a 50 day moving average price of $3.81. The company has a current ratio of 3.35, a quick ratio of 3.35 and a debt-to-equity ratio of 0.06. The firm has a market cap of $112.58 million, a PE ratio of -1.92 and a beta of 1.89.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.13). Abeona Therapeutics had a negative net margin of 960.91% and a negative return on equity of 45.58%. On average, research analysts predict that Abeona Therapeutics Inc will post -1.6 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA lifted its stake in Abeona Therapeutics by 21,590.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,507 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 6,477 shares during the period. Metropolitan Life Insurance Co. NY increased its holdings in Abeona Therapeutics by 247.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,194 shares of the biopharmaceutical company’s stock worth $73,000 after acquiring an additional 7,258 shares in the last quarter. Trexquant Investment LP purchased a new stake in Abeona Therapeutics during the 2nd quarter valued at approximately $53,000. Keybank National Association OH purchased a new stake in Abeona Therapeutics during the 2nd quarter valued at approximately $89,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Abeona Therapeutics by 7.1% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,523 shares of the biopharmaceutical company’s stock valued at $144,000 after buying an additional 1,286 shares in the last quarter. 63.58% of the stock is currently owned by institutional investors and hedge funds.

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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