Brokerages Set Abeona Therapeutics Inc. (NASDAQ:ABEO) PT at $19.50

Shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $19.50.

ABEO has been the subject of several recent analyst reports. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a research note on Monday, October 13th. Oppenheimer raised their price target on Abeona Therapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, August 15th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Abeona Therapeutics in a research report on Wednesday, October 8th.

Abeona Therapeutics Trading Down 1.6%

ABEO opened at $5.38 on Thursday. The stock has a fifty day moving average price of $6.15 and a 200-day moving average price of $5.96. The company has a current ratio of 6.73, a quick ratio of 6.65 and a debt-to-equity ratio of 0.09. The firm has a market cap of $275.89 million, a price-to-earnings ratio of 7.69 and a beta of 1.42. Abeona Therapeutics has a 12 month low of $3.93 and a 12 month high of $7.54.

Abeona Therapeutics (NASDAQ:ABEO) last posted its earnings results on Thursday, August 14th. The biopharmaceutical company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $2.10. The business had revenue of $0.40 million for the quarter, compared to analyst estimates of $21.71 million. As a group, equities research 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, CEO Vishwas Seshadri sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $5.24, for a total transaction of $131,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,190,067 shares in the company, valued at $6,235,951.08. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Joseph Walter Vazzano sold 9,035 shares of the firm’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $5.39, for a total value of $48,698.65. Following the transaction, the chief financial officer owned 453,631 shares of the company’s stock, valued at approximately $2,445,071.09. This represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,114 shares of company stock worth $349,144 over the last ninety days. Company insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ABEO. Cannon Global Investment Management LLC purchased a new position in Abeona Therapeutics in the first quarter valued at $67,000. Wellington Management Group LLP boosted its holdings in Abeona Therapeutics by 64.1% in the first quarter. Wellington Management Group LLP now owns 153,121 shares of the biopharmaceutical company’s stock valued at $729,000 after purchasing an additional 59,832 shares during the period. OMERS ADMINISTRATION Corp boosted its holdings in Abeona Therapeutics by 11.0% in the first quarter. OMERS ADMINISTRATION Corp now owns 72,200 shares of the biopharmaceutical company’s stock valued at $344,000 after purchasing an additional 7,155 shares during the period. Trexquant Investment LP lifted its holdings in 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 buying an additional 50,758 shares during the last quarter. Finally, Newtyn Management LLC lifted its holdings in Abeona Therapeutics by 26.3% during the 1st quarter. Newtyn Management LLC now owns 480,000 shares of the biopharmaceutical company’s stock worth $2,285,000 after buying an additional 100,000 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other 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.