Abeona Therapeutics (ABEO) Stock Price Up 12.8%

Abeona Therapeutics Inc (NASDAQ:ABEO) rose 12.8% on Thursday . The company traded as high as $10.37 and last traded at $9.88. Approximately 985,905 shares traded hands during mid-day trading, an increase of 14% from the average daily volume of 867,347 shares. The stock had previously closed at $8.76.

Several brokerages have commented on ABEO. HC Wainwright set a $30.00 price objective on shares of Abeona Therapeutics and gave the company a “buy” rating in a research report on Monday, August 13th. Cantor Fitzgerald restated a “buy” rating and set a $36.00 price objective on shares of Abeona Therapeutics in a research report on Saturday, August 11th. Maxim Group restated a “buy” rating and set a $35.00 price objective on shares of Abeona Therapeutics in a research report on Friday, August 10th. ValuEngine downgraded shares of Abeona Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 30th. Finally, Mizuho began coverage on shares of Abeona Therapeutics in a research report on Thursday, October 11th. They set a “buy” rating and a $17.00 price objective for the company. One 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’s stock. The company presently has an average rating of “Buy” and an average price target of $25.90.

The stock has a market cap of $419.98 million, a P/E 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) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.06). Abeona Therapeutics had a negative net margin of 881.74% and a negative return on equity of 23.02%. The firm had revenue of $0.82 million for the quarter, compared to analyst estimates of $1.81 million. As a group, research analysts anticipate that Abeona Therapeutics Inc will post -0.88 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of ABEO. FMR LLC grew its stake in shares of Abeona Therapeutics by 47.7% during the second quarter. FMR LLC now owns 7,094,307 shares of the biopharmaceutical company’s stock worth $113,509,000 after buying an additional 2,291,016 shares during the last quarter. PointState Capital LP bought a new stake in shares of Abeona Therapeutics during the second quarter worth $9,210,000. BlackRock Inc. grew its stake in shares of Abeona Therapeutics by 16.6% during the second quarter. BlackRock Inc. now owns 2,184,506 shares of the biopharmaceutical company’s stock worth $34,951,000 after buying an additional 311,034 shares during the last quarter. Nexthera Capital LP grew its stake in shares of Abeona Therapeutics by 69.6% during the second quarter. Nexthera Capital LP now owns 626,804 shares of the biopharmaceutical company’s stock worth $10,029,000 after buying an additional 257,304 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Abeona Therapeutics by 28.2% during the second quarter. Northern Trust Corp now owns 390,342 shares of the biopharmaceutical company’s stock worth $6,246,000 after buying an additional 85,908 shares during the last quarter. 76.38% of the stock is currently owned by hedge funds and other institutional investors.

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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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