HC Wainwright Reaffirms “Buy” Rating for Abeona Therapeutics (NASDAQ:ABEO)

Abeona Therapeutics (NASDAQ:ABEO)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $20.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 287.60% from the company’s current price.

Other research analysts also recently issued research reports about the company. Weiss Ratings restated a “sell (d+)” rating on shares of Abeona Therapeutics in a research note on Wednesday, January 21st. Wall Street Zen cut Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Oppenheimer reissued an “outperform” rating on shares of Abeona Therapeutics in a research note on Monday. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Abeona Therapeutics Stock Up 6.4%

Shares of NASDAQ:ABEO opened at $5.16 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.53 and a current ratio of 9.74. Abeona Therapeutics has a 52-week low of $3.93 and a 52-week high of $7.54. The business’s 50 day simple moving average is $5.15 and its two-hundred day simple moving average is $5.32. The firm has a market cap of $279.62 million, a P/E ratio of 4.20 and a beta of 1.13.

Insider Buying and Selling at Abeona Therapeutics

In related news, Director Eric Crombez sold 16,284 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $5.09, for a total transaction of $82,885.56. Following the completion of the sale, the director owned 63,456 shares in the company, valued at approximately $322,991.04. This trade represents a 20.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Leila Alland sold 18,065 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $5.09, for a total transaction of $91,950.85. Following the completion of the sale, the director owned 173,614 shares in the company, valued at $883,695.26. This represents a 9.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 209,605 shares of company stock worth $1,101,300. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Abeona Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Abeona Therapeutics in the second quarter worth approximately $25,000. Legal & General Group Plc purchased a new stake in shares of Abeona Therapeutics during the second quarter worth about $27,000. Russell Investments Group Ltd. acquired a new stake in shares of Abeona Therapeutics during the third quarter worth about $37,000. Truvestments Capital LLC boosted its holdings in Abeona Therapeutics by 191.4% in the fourth quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 6,770 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new stake in shares of Abeona Therapeutics during the 3rd quarter worth approximately $57,000. 80.56% of the stock is currently owned by institutional investors.

Abeona Therapeutics Company Profile

Abeona Therapeutics is a clinical‐stage biopharmaceutical company focused on the development and commercialization of gene and cell therapies for severe, life‐threatening rare diseases and oncology indications. Founded in 2014 and headquartered in Cleveland, Ohio, Abeona leverages proprietary viral and non‐viral delivery platforms to correct or compensate for underlying genetic deficiencies. The company’s research efforts target pediatric neurodegenerative disorders as well as debilitating dermatologic conditions with high unmet medical need.

The company’s lead clinical programs include separate AAV‐based gene therapies for CLN1 and CLN3 forms of neuronal ceroid lipofuscinosis, alongside an ex vivo autologous cell therapy for recessive dystrophic epidermolysis bullosa.