Abeona Therapeutics (NASDAQ:ABEO) Now Covered by HC Wainwright

Research analysts at HC Wainwright started coverage on shares of Abeona Therapeutics (NASDAQ:ABEO) in a research note issued on Wednesday, Briefing.com reports. The brokerage set a “buy” rating and a $15.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 264.08% from the stock’s previous close.

A number of other equities analysts have also recently commented on ABEO. StockNews.com cut shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Stifel Nicolaus initiated coverage on shares of Abeona Therapeutics in a research note on Thursday, May 30th. They issued a “buy” rating and a $21.00 price target on the stock. Finally, Cantor Fitzgerald cut their price objective on shares of Abeona Therapeutics from $28.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th.

Abeona Therapeutics Price Performance

Abeona Therapeutics stock opened at $4.12 on Wednesday. The company has a market cap of $168.76 million, a price-to-earnings ratio of -1.29 and a beta of 1.59. The firm has a 50-day moving average of $4.26 and a 200-day moving average of $5.62. Abeona Therapeutics has a one year low of $2.83 and a one year high of $9.01.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Wednesday, May 15th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.06). As a group, sell-side analysts expect that Abeona Therapeutics will post -1.75 earnings per share for the current year.

Insider Activity

In related news, SVP Brendan M. O’malley bought 8,600 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was acquired at an average cost of $3.24 per share, with a total value of $27,864.00. Following the transaction, the senior vice president now directly owns 188,718 shares in the company, valued at $611,446.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Brendan M. O’malley bought 8,600 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was acquired at an average price of $3.24 per share, with a total value of $27,864.00. Following the completion of the purchase, the senior vice president now directly owns 188,718 shares of the company’s stock, valued at $611,446.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leila Alland bought 11,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were acquired at an average price of $4.71 per share, for a total transaction of $51,810.00. Following the transaction, the director now owns 82,857 shares in the company, valued at $390,256.47. The disclosure for this purchase can be found here. Insiders bought 42,758 shares of company stock valued at $154,047 over the last quarter. 5.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Western Standard LLC boosted its position in Abeona Therapeutics by 68.5% in the first quarter. Western Standard LLC now owns 1,361,489 shares of the biopharmaceutical company’s stock worth $9,871,000 after purchasing an additional 553,377 shares during the last quarter. Acadian Asset Management LLC bought a new position in Abeona Therapeutics during the first quarter valued at $91,000. Jump Financial LLC purchased a new stake in Abeona Therapeutics in the 4th quarter worth about $199,000. Worth Venture Partners LLC lifted its holdings in Abeona Therapeutics by 76.6% during the third quarter. Worth Venture Partners LLC now owns 281,280 shares of the biopharmaceutical company’s stock valued at $1,184,000 after purchasing an additional 121,969 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Abeona Therapeutics by 84.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 3,249,994 shares of the biopharmaceutical company’s stock worth $13,682,000 after purchasing an additional 1,488,834 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

About Abeona Therapeutics

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.