Abeona Therapeutics Inc (NASDAQ:ABEO) Sees Significant Growth in Short Interest

Abeona Therapeutics Inc (NASDAQ:ABEO) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 4,980,000 shares, an increase of 6.6% from the September 15th total of 4,670,000 shares. Based on an average daily volume of 1,110,000 shares, the days-to-cover ratio is presently 4.5 days. Currently, 14.4% of the shares of the company are sold short.

Several research firms recently commented on ABEO. Mizuho reiterated a “hold” rating and set a $4.00 target price on shares of Abeona Therapeutics in a research note on Monday, September 23rd. Maxim Group cut shares of Abeona Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. HC Wainwright restated a “buy” rating and issued a $15.00 price objective on shares of Abeona Therapeutics in a research note on Wednesday, October 16th. Zacks Investment Research cut shares of Abeona Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada dropped their price objective on shares of Abeona Therapeutics to $16.00 and set a “positive” rating for the company in a research note on Tuesday, August 13th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $17.21.

Shares of ABEO stock opened at $2.37 on Friday. Abeona Therapeutics has a 52-week low of $1.46 and a 52-week high of $10.37. The stock has a market cap of $123.29 million, a price-to-earnings ratio of -1.99 and a beta of 1.95. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.54 and a current ratio of 2.54. The firm has a fifty day moving average of $2.54 and a 200-day moving average of $4.27.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Friday, August 9th. The biopharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.13). On average, sell-side analysts predict that Abeona Therapeutics will post -1.7 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. Hartford Financial Management Inc. grew its stake in shares of Abeona Therapeutics by 17.1% in the third quarter. Hartford Financial Management Inc. now owns 30,755 shares of the biopharmaceutical company’s stock valued at $70,000 after buying an additional 4,500 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Abeona Therapeutics by 9.0% in the third quarter. Rhumbline Advisers now owns 50,854 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 4,202 shares in the last quarter. Rhenman & Partners Asset Management AB grew its stake in shares of Abeona Therapeutics by 54.1% in the third quarter. Rhenman & Partners Asset Management AB now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $2,260,000 after buying an additional 350,877 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of Abeona Therapeutics in the second quarter valued at $59,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Abeona Therapeutics in the second quarter valued at $196,000. Institutional investors own 59.40% of the company’s stock.

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.

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