Abeona Therapeutics (ABEO) Stock Price Up 6%
Abeona Therapeutics Inc (NASDAQ:ABEO) shares rose 6% during mid-day trading on Friday . The company traded as high as $16.05 and last traded at $15.85. Approximately 740,392 shares changed hands during trading, an increase of 15% from the average daily volume of 644,702 shares. The stock had previously closed at $14.95.
ABEO has been the subject of a number of recent research reports. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Abeona Therapeutics in a research report on Friday, September 8th. Maxim Group set a $17.00 price target on shares of Abeona Therapeutics and gave the company a “buy” rating in a research report on Tuesday, August 29th. Jefferies Group reissued a “buy” rating and set a $28.00 price target on shares of Abeona Therapeutics in a research report on Wednesday, November 22nd. SunTrust Banks initiated coverage on shares of Abeona Therapeutics in a research report on Wednesday, November 8th. They set a “buy” rating and a $26.00 price target for the company. Finally, Citigroup initiated coverage on shares of Abeona Therapeutics in a research report on Tuesday, October 10th. They set a “buy” rating and a $32.00 price target for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Abeona Therapeutics currently has a consensus rating of “Buy” and an average price target of $26.10.
The firm has a market capitalization of $706.31, a P/E ratio of -24.02 and a beta of 2.23.
A number of large investors have recently added to or reduced their stakes in ABEO. Geode Capital Management LLC increased its stake in Abeona Therapeutics by 2.4% during the 1st quarter. Geode Capital Management LLC now owns 196,073 shares of the biopharmaceutical company’s stock valued at $980,000 after purchasing an additional 4,588 shares in the last quarter. Schwab Charles Investment Management Inc. bought a new stake in Abeona Therapeutics during the 2nd quarter valued at about $264,000. Rhumbline Advisers bought a new stake in Abeona Therapeutics during the 2nd quarter valued at about $190,000. State of Wisconsin Investment Board bought a new stake in Abeona Therapeutics during the 2nd quarter valued at about $122,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Abeona Therapeutics by 138.5% in the second quarter. Bank of New York Mellon Corp now owns 99,996 shares of the biopharmaceutical company’s stock worth $640,000 after acquiring an additional 58,067 shares during the period. Institutional investors and hedge funds own 41.95% of the company’s stock.
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Abeona Therapeutics Company Profile
Abeona Therapeutics Inc is a clinical-stage biopharmaceutical company developing novel gene therapies for life-threatening rare genetic diseases. The Company’s lead programs include ABO-102 (AAV-SGSH), an adeno-associated virus (AAV) based gene therapy for Sanfilippo syndrome type A (MPS IIIA) and EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB).
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