Abeona Therapeutics Inc to Post FY2024 Earnings of ($2.38) Per Share, Cantor Fitzgerald Forecasts (NASDAQ:ABEO)

Abeona Therapeutics Inc (NASDAQ:ABEO) – Stock analysts at Cantor Fitzgerald lowered their FY2024 earnings per share (EPS) estimates for Abeona Therapeutics in a research note issued to investors on Wednesday, April 24th. Cantor Fitzgerald analyst K. Kluska now anticipates that the biopharmaceutical company will post earnings of ($2.38) per share for the year, down from their prior estimate of ($1.86). Cantor Fitzgerald currently has a “Overweight” rating and a $36.00 price target on the stock. The consensus estimate for Abeona Therapeutics’ current full-year earnings is ($1.83) per share.

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).

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

Abeona Therapeutics Trading Up 2.2 %

NASDAQ:ABEO opened at $3.26 on Friday. The company has a market capitalization of $89.16 million, a P/E ratio of -1.26 and a beta of 1.49. Abeona Therapeutics has a 12 month low of $2.83 and a 12 month high of $9.01. The business’s 50-day moving average is $7.31 and its 200 day moving average is $5.61.

Institutional Investors Weigh In On Abeona Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Simplex Trading LLC raised its holdings in shares of Abeona Therapeutics by 1,889.9% in the third quarter. Simplex Trading LLC now owns 14,128 shares of the biopharmaceutical company’s stock worth $59,000 after buying an additional 13,418 shares during the period. Jump Financial LLC purchased a new stake in shares of Abeona Therapeutics in the fourth quarter worth approximately $199,000. Worth Venture Partners LLC raised its holdings in shares of Abeona Therapeutics by 76.6% in the third quarter. Worth Venture Partners LLC now owns 281,280 shares of the biopharmaceutical company’s stock worth $1,184,000 after buying an additional 121,969 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Abeona Therapeutics in the third quarter worth approximately $648,000. Finally, Barclays PLC raised its holdings in shares of Abeona Therapeutics by 100.0% in the third quarter. Barclays PLC now owns 371,276 shares of the biopharmaceutical company’s stock worth $1,564,000 after buying an additional 185,638 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Abeona Therapeutics

In related news, SVP Brendan M. O’malley acquired 8,600 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were acquired at an average cost of $3.24 per share, for a total transaction of $27,864.00. Following the completion of the transaction, the senior vice president now directly owns 188,718 shares in the company, valued at approximately $611,446.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.30% of the company’s stock.

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.