Abeona Therapeutics Inc. (NASDAQ:ABEO) Stock Rated “Moderate Buy” by Wall Street Brokerages

Abeona Therapeutics Inc. (NASDAQ:ABEO) has been given a consensus rating of “Moderate Buy” by the six analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $21.00.

A number of brokerages recently weighed in on ABEO. Oppenheimer reissued an “outperform” rating and issued a $21.00 price target (down from $22.00) on shares of Abeona Therapeutics in a report on Friday, August 14th. Weiss Ratings lowered shares of Abeona Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 17th. UBS Group restated a “buy” rating on shares of Abeona Therapeutics in a report on Friday, September 25th. HC Wainwright reaffirmed a “buy” rating on shares of Abeona Therapeutics in a research report on Friday, September 25th. Finally, Roth Capital began coverage on shares of Abeona Therapeutics in a research report on Thursday, September 17th. They issued a “buy” rating and a $17.00 price objective on the stock.

Insider Activity

In other news, CEO Vishwas Seshadri sold 19,608 shares of the firm’s stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $5.16, for a total transaction of $101,177.28. Following the completion of the sale, the chief executive officer owned 1,286,500 shares in the company, valued at $6,638,340. This trade represents a 1.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Joseph Vazzano sold 9,191 shares of Abeona Therapeutics stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $5.16, for a total transaction of $47,425.56. Following the completion of the sale, the chief financial officer directly owned 482,888 shares in the company, valued at $2,491,702.08. This trade represents a 1.87% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 56,906 shares of company stock worth $306,160. 7.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Abeona Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. AIGH Capital Management LLC increased its position in Abeona Therapeutics by 55.0% in the first quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company’s stock worth $13,888,000 after buying an additional 1,100,000 shares during the last quarter. AWM Investment Company Inc. purchased a new position in shares of Abeona Therapeutics during the 2nd quarter valued at $9,184,000. Simplify Asset Management Inc. lifted its position in shares of Abeona Therapeutics by 1.5% during the 1st quarter. Simplify Asset Management Inc. now owns 507,988 shares of the biopharmaceutical company’s stock valued at $2,276,000 after buying an additional 7,646 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Abeona Therapeutics during the 2nd quarter valued at $1,262,000. Finally, Sei Investments Co. grew its stake in shares of Abeona Therapeutics by 142.4% during the 1st quarter. Sei Investments Co. now owns 172,460 shares of the biopharmaceutical company’s stock worth $773,000 after acquiring an additional 101,307 shares during the period. 80.56% of the stock is owned by institutional investors.

Abeona Therapeutics Stock Performance

Shares of Abeona Therapeutics stock opened at $4.43 on Tuesday. The business’s fifty day simple moving average is $5.65 and its 200 day simple moving average is $5.74. The company has a current ratio of 6.63, a quick ratio of 6.40 and a debt-to-equity ratio of 0.01. Abeona Therapeutics has a 12 month low of $4.00 and a 12 month high of $7.65. The firm has a market capitalization of $253.33 million, a P/E ratio of -4.06 and a beta of 1.31.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The business had revenue of $11.38 million during the quarter, compared to analysts’ expectations of $12.24 million. As a group, analysts anticipate that Abeona Therapeutics will post -0.88 EPS for the current year.

About Abeona Therapeutics

Abeona Therapeutics Inc is a biotechnology company focused on developing and commercializing cell and gene therapies for serious diseases. The company’s primary focus is regenerative medicine, with an emphasis on treatments that address rare genetic disorders and conditions involving damaged or absent tissue.

Abeona’s lead product, ZEVASKYN (prademagene zamikeracel, formerly EB-101), is an autologous, gene-corrected cell therapy for wounds associated with recessive dystrophic epidermolysis bullosa (RDEB).