Abeona Therapeutics Inc (NASDAQ:ABEO) Sees Significant Drop in Short Interest

Abeona Therapeutics Inc (NASDAQ:ABEO) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 2,840,000 shares, a decrease of 6.3% from the August 15th total of 3,030,000 shares. Approximately 7.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 348,000 shares, the days-to-cover ratio is presently 8.2 days.

Abeona Therapeutics Stock Performance

Abeona Therapeutics stock opened at $5.45 on Thursday. Abeona Therapeutics has a 1-year low of $3.05 and a 1-year high of $9.01. The company’s 50-day moving average is $5.20 and its 200 day moving average is $5.47. The firm has a market capitalization of $223.25 million, a P/E ratio of -1.70 and a beta of 1.53. The company has a debt-to-equity ratio of 0.22, a current ratio of 7.48 and a quick ratio of 7.48.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Monday, August 12th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.42). Research analysts forecast that Abeona Therapeutics will post -1.28 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Stifel Nicolaus initiated coverage on Abeona Therapeutics in a research report on Thursday, May 30th. They issued a “buy” rating and a $21.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Abeona Therapeutics in a research note on Wednesday, August 14th. Finally, StockNews.com raised Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th.

Institutional Trading of Abeona Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jump Financial LLC purchased a new stake in shares of Abeona Therapeutics during the fourth quarter valued at $199,000. Acadian Asset Management LLC bought a new stake in Abeona Therapeutics during the 1st quarter valued at about $91,000. Western Standard LLC boosted its position in Abeona Therapeutics by 68.5% in the 1st quarter. Western Standard LLC now owns 1,361,489 shares of the biopharmaceutical company’s stock valued at $9,871,000 after buying an additional 553,377 shares during the period. Rosalind Advisors Inc. bought a new position in Abeona Therapeutics in the 2nd quarter worth about $7,420,000. Finally, Bank of New York Mellon Corp increased its position in shares of Abeona Therapeutics by 2.0% during the second quarter. Bank of New York Mellon Corp now owns 121,453 shares of the biopharmaceutical company’s stock worth $515,000 after acquiring an additional 2,434 shares during the period. 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.