Cantor Fitzgerald Reaffirms Overweight Rating for Abeona Therapeutics (NASDAQ:ABEO)

Abeona Therapeutics (NASDAQ:ABEO)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research report issued on Tuesday, Benzinga reports. They currently have a $36.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 389.13% from the stock’s previous close.

Separately, StockNews.com downgraded Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday.

Abeona Therapeutics Stock Performance

ABEO opened at $7.36 on Tuesday. The business’s fifty day moving average is $7.49 and its two-hundred day moving average is $5.65. The company has a market cap of $201.30 million, a price-to-earnings ratio of -2.85 and a beta of 1.49. Abeona Therapeutics has a one year low of $2.83 and a one year high of $9.01.

Abeona Therapeutics (NASDAQ:ABEO) last posted its earnings results on Monday, March 18th. The biopharmaceutical company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.13). On average, analysts predict that Abeona Therapeutics will post -1.83 EPS for the current fiscal year.

Institutional Trading of Abeona Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Citigroup Inc. increased its stake in Abeona Therapeutics by 125.0% in the third quarter. Citigroup Inc. now owns 450,000 shares of the biopharmaceutical company’s stock valued at $1,894,000 after purchasing an additional 250,000 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Abeona Therapeutics in the third quarter valued at $648,000. Worth Venture Partners LLC increased its stake in Abeona Therapeutics by 76.6% in the third quarter. Worth Venture Partners LLC now owns 281,280 shares of the biopharmaceutical company’s stock valued at $1,184,000 after purchasing an additional 121,969 shares during the last quarter. AIGH Capital Management LLC increased its stake in Abeona Therapeutics by 77.7% in the third quarter. AIGH Capital Management LLC now owns 1,135,252 shares of the biopharmaceutical company’s stock valued at $4,779,000 after purchasing an additional 496,278 shares during the last quarter. Finally, Barclays PLC increased its stake in Abeona Therapeutics by 100.0% in the third quarter. Barclays PLC now owns 371,276 shares of the biopharmaceutical company’s stock valued at $1,564,000 after purchasing an additional 185,638 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Abeona Therapeutics Company Profile

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.