Brokerages Set Abeona Therapeutics Inc. (NASDAQ:ABEO) PT at $20.00

Shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) have been given an average recommendation of “Moderate Buy” by the five brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $20.00.

Several equities research analysts have commented on ABEO shares. Wall Street Zen cut Abeona Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “sell (d+)” rating on shares of Abeona Therapeutics in a report on Wednesday, January 21st.

Insider Activity at Abeona Therapeutics

In related news, Director Eric Crombez sold 16,284 shares of Abeona Therapeutics stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $5.09, for a total value of $82,885.56. Following the sale, the director owned 63,456 shares of the company’s stock, valued at approximately $322,991.04. The trade was a 20.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leila Alland sold 18,065 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $5.09, for a total value of $91,950.85. Following the completion of the transaction, the director owned 173,614 shares of the company’s stock, valued at approximately $883,695.26. This represents a 9.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 209,605 shares of company stock worth $1,101,300. Corporate insiders own 6.90% of the company’s stock.

Institutional Trading of Abeona Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd grew its position in shares of Abeona Therapeutics by 25.4% in the 4th quarter. XTX Topco Ltd now owns 49,338 shares of the biopharmaceutical company’s stock valued at $260,000 after acquiring an additional 9,979 shares during the period. Tang Capital Management LLC bought a new position in Abeona Therapeutics during the fourth quarter worth about $5,270,000. Balyasny Asset Management L.P. acquired a new position in Abeona Therapeutics during the fourth quarter worth approximately $3,118,000. J. Goldman & Co LP bought a new stake in Abeona Therapeutics in the fourth quarter valued at approximately $2,102,000. Finally, AQR Capital Management LLC raised its stake in Abeona Therapeutics by 240.7% in the fourth quarter. AQR Capital Management LLC now owns 114,520 shares of the biopharmaceutical company’s stock valued at $604,000 after buying an additional 80,908 shares during the period. 80.56% of the stock is owned by institutional investors.

Abeona Therapeutics Stock Performance

ABEO opened at $5.26 on Wednesday. The business’s 50-day moving average price is $5.17 and its two-hundred day moving average price is $5.46. Abeona Therapeutics has a 1 year low of $3.93 and a 1 year high of $7.54. The company has a market capitalization of $285.04 million, a price-to-earnings ratio of 4.28 and a beta of 1.18. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.74 and a quick ratio of 9.53.

About Abeona Therapeutics

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.