HC Wainwright Reiterates Buy Rating for Abeona Therapeutics (NASDAQ:ABEO)

HC Wainwright reaffirmed their buy rating on shares of Abeona Therapeutics (NASDAQ:ABEO - Free Report) in a research note published on Monday,Benzinga reports. The firm currently has a $20.00 price target on the biopharmaceutical company's stock.

Other research analysts have also issued reports about the company. Wall Street Zen lowered Abeona Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 15th. Alliance Global Partners restated a "buy" rating on shares of Abeona Therapeutics in a research report on Thursday, May 15th. Stifel Nicolaus lowered their price target on Abeona Therapeutics from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Finally, Oppenheimer began coverage on Abeona Therapeutics in a research report on Monday, June 2nd. They set an "outperform" rating and a $19.00 price target for the company. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $19.25.

Abeona Therapeutics Trading Up 5.9%

Abeona Therapeutics stock traded up $0.37 during mid-day trading on Monday, hitting $6.63. The company's stock had a trading volume of 910,334 shares, compared to its average volume of 706,180. The firm has a market capitalization of $339.19 million, a PE ratio of -5.22 and a beta of 1.51. Abeona Therapeutics has a 1 year low of $3.93 and a 1 year high of $7.32. The company has a current ratio of 4.90, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27. The stock's fifty day moving average is $6.05 and its two-hundred day moving average is $5.59.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.11. On average, analysts anticipate that Abeona Therapeutics will post -1.16 EPS for the current year.

Insider Buying and Selling at Abeona Therapeutics

In other news, Director Mark Alvino sold 13,093 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total value of $76,724.98. Following the sale, the director directly owned 77,252 shares in the company, valued at approximately $452,696.72. This trade represents a 14.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vishwas Seshadri sold 69,420 shares of the stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $5.86, for a total value of $406,801.20. Following the completion of the sale, the chief executive officer owned 1,234,341 shares in the company, valued at approximately $7,233,238.26. The trade was a 5.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 238,124 shares of company stock valued at $1,466,054. Corporate insiders own 6.90% of the company's stock.

Institutional Trading of Abeona Therapeutics

Several hedge funds have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. raised its stake in shares of Abeona Therapeutics by 20.1% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,902,360 shares of the biopharmaceutical company's stock valued at $21,736,000 after acquiring an additional 652,366 shares in the last quarter. Western Standard LLC raised its stake in shares of Abeona Therapeutics by 22.8% in the fourth quarter. Western Standard LLC now owns 2,084,418 shares of the biopharmaceutical company's stock valued at $11,610,000 after acquiring an additional 386,321 shares in the last quarter. 683 Capital Management LLC raised its stake in Abeona Therapeutics by 17.3% in the fourth quarter. 683 Capital Management LLC now owns 791,845 shares of the biopharmaceutical company's stock valued at $4,411,000 after buying an additional 116,845 shares in the last quarter. Newtyn Management LLC raised its stake in Abeona Therapeutics by 26.3% in the first quarter. Newtyn Management LLC now owns 480,000 shares of the biopharmaceutical company's stock valued at $2,285,000 after buying an additional 100,000 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Abeona Therapeutics by 16.7% in the fourth quarter. Bank of America Corp DE now owns 264,439 shares of the biopharmaceutical company's stock valued at $1,473,000 after buying an additional 37,774 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

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.