Abeona Therapeutics Inc (NASDAQ:ABEO)’s share price was down 6% during trading on Wednesday . The stock traded as low as $1.89 and last traded at $1.89. Approximately 1,012,086 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 1,236,159 shares. The stock had previously closed at $2.01.
Several equities analysts have commented on ABEO shares. ValuEngine upgraded shares of Abeona Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, September 2nd. HC Wainwright restated a “buy” rating and set a $11.00 target price on shares of Abeona Therapeutics in a research report on Monday, July 13th. Finally, Zacks Investment Research downgraded Abeona Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Abeona Therapeutics has an average rating of “Buy” and a consensus price target of $5.70.
The stock’s 50-day simple moving average is $2.51 and its 200 day simple moving average is $2.66. The company has a market cap of $160.23 million, a price-to-earnings ratio of -1.55 and a beta of 1.18.
In other news, Director Sco Capital Partners Llc sold 73,411 shares of Abeona Therapeutics stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $2.08, for a total transaction of $152,694.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.10% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of ABEO. BlackRock Inc. increased its stake in Abeona Therapeutics by 47.4% in the first quarter. BlackRock Inc. now owns 3,665,382 shares of the biopharmaceutical company’s stock valued at $7,697,000 after purchasing an additional 1,178,139 shares during the last quarter. Geode Capital Management LLC increased its position in Abeona Therapeutics by 77.4% in the 1st quarter. Geode Capital Management LLC now owns 886,119 shares of the biopharmaceutical company’s stock worth $1,860,000 after purchasing an additional 386,705 shares during the last quarter. State Street Corp increased its position in Abeona Therapeutics by 55.4% in the 1st quarter. State Street Corp now owns 950,322 shares of the biopharmaceutical company’s stock worth $1,996,000 after purchasing an additional 338,756 shares during the last quarter. Nuveen Asset Management LLC increased its position in Abeona Therapeutics by 189.0% in the 1st quarter. Nuveen Asset Management LLC now owns 482,120 shares of the biopharmaceutical company’s stock worth $1,013,000 after purchasing an additional 315,271 shares during the last quarter. Finally, Hudson Bay Capital Management LP increased its holdings in shares of Abeona Therapeutics by 111.1% during the 2nd quarter. Hudson Bay Capital Management LP now owns 475,000 shares of the biopharmaceutical company’s stock valued at $1,384,000 after acquiring an additional 250,000 shares during the last quarter. Institutional investors own 51.22% of the company’s stock.
Abeona Therapeutics Company Profile (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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