Abeona Therapeutics Inc. (ABEO) Receives Positive Rating from FBR & Co
Other equities analysts have also recently issued research reports about the company. Maxim Group set a $14.00 price objective on Abeona Therapeutics and gave the company a buy rating in a report on Wednesday. Cantor Fitzgerald reaffirmed a buy rating and issued a $21.00 price target on shares of Abeona Therapeutics in a report on Friday, September 30th. Zacks Investment Research cut Abeona Therapeutics from a hold rating to a sell rating in a report on Monday, September 12th. Finally, Rodman & Renshaw reaffirmed a buy rating and issued a $17.00 price target on shares of Abeona Therapeutics in a report on Sunday, August 21st. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $14.50.
Abeona Therapeutics (NASDAQ:ABEO) traded down 5.3827% during mid-day trading on Wednesday, hitting $6.3299. The company had a trading volume of 199,777 shares. Abeona Therapeutics has a 12 month low of $2.05 and a 12 month high of $7.00. The firm’s market capitalization is $212.34 million. The company has a 50-day moving average price of $5.08 and a 200 day moving average price of $3.35.
Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Tuesday, August 16th. The biopharmaceutical company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by $0.06. Abeona Therapeutics had a negative return on equity of 30.84% and a negative net margin of 2,177.03%. Equities analysts forecast that Abeona Therapeutics will post ($0.73) EPS for the current fiscal year.
In other news, Director Todd Wider purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, September 20th. The shares were bought at an average cost of $5.48 per share, for a total transaction of $27,400.00. Following the completion of the purchase, the director now directly owns 75,000 shares of the company’s stock, valued at $411,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABEO. Geode Capital Management LLC boosted its position in Abeona Therapeutics by 16.7% in the first quarter. Geode Capital Management LLC now owns 70,496 shares of the biopharmaceutical company’s stock worth $180,000 after buying an additional 10,082 shares during the period. BlackRock Fund Advisors boosted its position in Abeona Therapeutics by 8.5% in the first quarter. BlackRock Fund Advisors now owns 302,262 shares of the biopharmaceutical company’s stock worth $774,000 after buying an additional 23,734 shares during the period. Sabby Management LLC boosted its position in Abeona Therapeutics by 11.4% in the first quarter. Sabby Management LLC now owns 334,108 shares of the biopharmaceutical company’s stock worth $855,000 after buying an additional 34,108 shares during the period. Finally, Royce & Associates LP boosted its position in Abeona Therapeutics by 25.6% in the first quarter. Royce & Associates LP now owns 376,321 shares of the biopharmaceutical company’s stock worth $963,000 after buying an additional 76,678 shares during the period. Institutional investors own 19.95% of the company’s stock.
Abeona Therapeutics Company Profile
Abeona Therapeutics, Inc (Abeona), formerly PlasmaTech Biopharmaceuticals, Inc, is focused on developing and delivering gene therapy and plasma-based products for rare diseases. The Company’s lead programs are ABO-101 (AA9 NAGLU) and ABO-102 (scAAV9 SGHG), adeno-associated virus (AAV)-based gene therapies for Sanfilippo syndrome (Mucopolysaccharidosis (MPS) IIIA and IIIB) in collaboration with patient advocate groups, researchers and clinicians.
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