Abeona Therapeutics (NASDAQ:ABEO) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer began coverage on shares of Abeona Therapeutics (NASDAQ:ABEO) in a research report sent to investors on Monday, MarketBeat.com reports. The brokerage issued an outperform rating and a $19.00 price target on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued reports about the company. HC Wainwright increased their price target on Abeona Therapeutics from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Alliance Global Partners reaffirmed a “buy” rating on shares of Abeona Therapeutics in a research note on Thursday, May 15th. Stifel Nicolaus lowered their price target on Abeona Therapeutics from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, May 16th. Finally, Wall Street Zen downgraded Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.25.

Abeona Therapeutics Stock Performance

NASDAQ:ABEO opened at $6.28 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.12 and a quick ratio of 6.12. Abeona Therapeutics has a 1 year low of $3.93 and a 1 year high of $7.32. The stock’s 50 day simple moving average is $5.42 and its two-hundred day simple moving average is $5.56. The company has a market cap of $321.27 million, a price-to-earnings ratio of -2.33 and a beta of 1.68.

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings data 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. As a group, equities analysts anticipate that Abeona Therapeutics will post -1.16 earnings per share for the current fiscal year.

Insider Transactions at Abeona Therapeutics

In other news, Director Mark Alvino sold 8,000 shares of Abeona Therapeutics stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $5.68, for a total transaction of $45,440.00. Following the sale, the director now directly owns 92,435 shares of the company’s stock, valued at approximately $525,030.80. The trade was a 7.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vishwas Seshadri sold 25,000 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $4.78, for a total value of $119,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,355,322 shares of the company’s stock, valued at approximately $6,478,439.16. This represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,000 shares of company stock worth $177,700 over the last quarter. 6.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Abeona Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its holdings in shares of Abeona Therapeutics by 49.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 200,450 shares of the biopharmaceutical company’s stock worth $954,000 after purchasing an additional 66,422 shares in the last quarter. Newtyn Management LLC grew its position in Abeona Therapeutics by 26.3% during the first 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. Trexquant Investment LP increased its stake in shares of Abeona Therapeutics by 74.1% during the 1st quarter. Trexquant Investment LP now owns 119,274 shares of the biopharmaceutical company’s stock worth $568,000 after purchasing an additional 50,758 shares during the last quarter. OMERS ADMINISTRATION Corp boosted its holdings in shares of Abeona Therapeutics by 11.0% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 72,200 shares of the biopharmaceutical company’s stock worth $344,000 after buying an additional 7,155 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Abeona Therapeutics by 64.1% during the 1st quarter. Wellington Management Group LLP now owns 153,121 shares of the biopharmaceutical company’s stock worth $729,000 after buying an additional 59,832 shares during the period. 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.