Abeona Therapeutics Inc (NASDAQ:ABEO) Receives Average Recommendation of "Buy" from Analysts

Shares of Abeona Therapeutics Inc (NASDAQ:ABEO - Get Free Report) have been assigned a consensus rating of "Buy" from the five research firms that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $19.25.

Several analysts have recently issued reports on ABEO shares. Wall Street Zen cut shares of Abeona Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 15th. Stifel Nicolaus decreased their price objective on Abeona Therapeutics from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. HC Wainwright upped their price objective on Abeona Therapeutics from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Oppenheimer initiated coverage on Abeona Therapeutics in a report on Monday, June 2nd. They set an "outperform" rating and a $19.00 price target on the stock. Finally, Alliance Global Partners restated a "buy" rating on shares of Abeona Therapeutics in a report on Thursday, May 15th.

Abeona Therapeutics Price Performance

Shares of ABEO traded down $0.19 during mid-day trading on Friday, hitting $5.97. 683,644 shares of the stock were exchanged, compared to its average volume of 646,099. The company has a market cap of $305.41 million, a PE ratio of -2.22 and a beta of 1.54. Abeona Therapeutics has a 52-week low of $3.93 and a 52-week high of $7.32. The firm has a 50-day moving average of $5.76 and a two-hundred day moving average of $5.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 6.12 and a current ratio of 6.12.

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

Insider Buying and Selling

In other news, CEO Vishwas Seshadri sold 50,676 shares of Abeona Therapeutics stock in a transaction on Friday, June 6th. The stock was sold at an average price of $6.76, for a total transaction of $342,569.76. Following the completion of the sale, the chief executive officer now directly owns 1,303,761 shares in the company, valued at approximately $8,813,424.36. This trade represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brendan M. O'malley sold 10,470 shares of Abeona Therapeutics stock in a transaction on Friday, June 6th. The stock was sold at an average price of $6.76, for a total value of $70,777.20. Following the sale, the senior vice president now owns 378,245 shares of the company's stock, valued at approximately $2,556,936.20. This trade represents a 2.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,941 shares of company stock valued at $711,341 in the last ninety days. 6.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Abeona Therapeutics

A number of hedge funds have recently added to or reduced their stakes in ABEO. Adage Capital Partners GP L.L.C. raised its stake in shares of Abeona Therapeutics by 20.1% during 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 position in Abeona Therapeutics by 22.8% during the 4th quarter. Western Standard LLC now owns 2,084,418 shares of the biopharmaceutical company's stock valued at $11,610,000 after purchasing an additional 386,321 shares in the last quarter. 683 Capital Management LLC raised its position in Abeona Therapeutics by 17.3% during the 4th quarter. 683 Capital Management LLC now owns 791,845 shares of the biopharmaceutical company's stock valued at $4,411,000 after purchasing an additional 116,845 shares in the last quarter. Newtyn Management LLC raised its position in Abeona Therapeutics by 26.3% during the 1st quarter. Newtyn Management LLC now owns 480,000 shares of the biopharmaceutical company's stock valued at $2,285,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Abeona Therapeutics by 16.7% during the 4th quarter. Bank of America Corp DE now owns 264,439 shares of the biopharmaceutical company's stock valued at $1,473,000 after purchasing an additional 37,774 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

About Abeona Therapeutics

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.