Abeona Therapeutics (ABEO) Shares Down 5.3%

Abeona Therapeutics Inc (NASDAQ:ABEO)’s share price traded down 5.3% on Friday . The company traded as low as $9.02 and last traded at $9.36. 591,945 shares traded hands during trading, a decline of 32% from the average session volume of 866,083 shares. The stock had previously closed at $9.88.

A number of equities analysts have weighed in on the company. BidaskClub downgraded Abeona Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Thursday. Maxim Group reaffirmed a “buy” rating and set a $26.00 price target on shares of Abeona Therapeutics in a research report on Monday. Cantor Fitzgerald reaffirmed a “buy” rating and set a $36.00 price target on shares of Abeona Therapeutics in a research report on Monday. Zacks Investment Research raised Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, October 17th. Finally, Mizuho assumed coverage on Abeona Therapeutics in a research report on Thursday, October 11th. They set a “buy” rating and a $17.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. Abeona Therapeutics has a consensus rating of “Buy” and an average target price of $25.90.

The stock has a market capitalization of $428.61 million, a price-to-earnings ratio of -14.18 and a beta of 1.77.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Friday, August 10th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). Abeona Therapeutics had a negative return on equity of 23.02% and a negative net margin of 881.74%. The company had revenue of $0.82 million for the quarter, compared to the consensus estimate of $1.81 million. As a group, equities analysts anticipate that Abeona Therapeutics Inc will post -0.88 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Fortaleza Asset Management Inc. bought a new stake in shares of Abeona Therapeutics during the 2nd quarter worth approximately $104,000. United Services Automobile Association bought a new stake in shares of Abeona Therapeutics during the 2nd quarter worth approximately $162,000. Parkside Advisors LLC bought a new stake in shares of Abeona Therapeutics during the 3rd quarter worth approximately $160,000. Trexquant Investment LP bought a new stake in shares of Abeona Therapeutics during the 3rd quarter worth approximately $163,000. Finally, SG Americas Securities LLC bought a new stake in shares of Abeona Therapeutics during the 3rd quarter worth approximately $235,000. Institutional investors own 76.38% of the company’s stock.

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About Abeona Therapeutics (NASDAQ:ABEO)

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.

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