Abeona Therapeutics’ (ABEO) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Abeona Therapeutics (NASDAQ:ABEO) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $20.00 target price on the biopharmaceutical company’s stock.

Other analysts also recently issued reports about the stock. Oppenheimer restated an “outperform” rating on shares of Abeona Therapeutics in a report on Monday. Wall Street Zen cut shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Abeona Therapeutics in a report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Abeona Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Abeona Therapeutics Trading Down 0.4%

NASDAQ ABEO opened at $5.14 on Tuesday. The firm has a market cap of $278.54 million, a P/E ratio of 4.18 and a beta of 1.13. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.74 and a quick ratio of 9.53. The stock’s 50-day moving average is $5.15 and its 200-day moving average is $5.30. Abeona Therapeutics has a one year low of $3.93 and a one year high of $7.54.

Insiders Place Their Bets

In other Abeona Therapeutics news, SVP Brendan M. O’malley sold 13,578 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $5.33, for a total transaction of $72,370.74. Following the completion of the transaction, the senior vice president owned 451,134 shares of the company’s stock, valued at $2,404,544.22. This represents a 2.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Leila Alland sold 18,065 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $5.09, for a total transaction of $91,950.85. Following the transaction, the director directly owned 173,614 shares of the company’s stock, valued at $883,695.26. This represents a 9.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 209,605 shares of company stock worth $1,101,300 in the last 90 days. Company insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ABEO. Ameritas Investment Partners Inc. bought a new position in Abeona Therapeutics in the second quarter valued at $25,000. Legal & General Group Plc bought a new stake in Abeona Therapeutics during the 2nd quarter worth about $27,000. Russell Investments Group Ltd. acquired a new position in shares of Abeona Therapeutics during the 3rd quarter worth about $37,000. Truvestments Capital LLC grew its holdings in shares of Abeona Therapeutics by 191.4% in the 4th quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 6,770 shares in the last quarter. Finally, Legato Capital Management LLC bought a new position in shares of Abeona Therapeutics in the 3rd quarter valued at about $57,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Abeona Therapeutics Company Profile

Abeona Therapeutics is a clinical‐stage biopharmaceutical company focused on the development and commercialization of gene and cell therapies for severe, life‐threatening rare diseases and oncology indications. Founded in 2014 and headquartered in Cleveland, Ohio, Abeona leverages proprietary viral and non‐viral delivery platforms to correct or compensate for underlying genetic deficiencies. The company’s research efforts target pediatric neurodegenerative disorders as well as debilitating dermatologic conditions with high unmet medical need.

The company’s lead clinical programs include separate AAV‐based gene therapies for CLN1 and CLN3 forms of neuronal ceroid lipofuscinosis, alongside an ex vivo autologous cell therapy for recessive dystrophic epidermolysis bullosa.