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

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

Abeona Therapeutics Price Performance

NASDAQ ABEO opened at $5.80 on Friday. The company has a quick ratio of 7.48, a current ratio of 7.48 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $237.59 million, a PE ratio of -1.81 and a beta of 1.53. Abeona Therapeutics has a 12-month low of $3.05 and a 12-month high of $9.01. The company has a 50 day moving average price of $5.21 and a two-hundred day moving average price of $5.47.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ABEO. HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Abeona Therapeutics in a report on Wednesday, August 14th. Stifel Nicolaus started coverage on shares of Abeona Therapeutics in a research report on Thursday, May 30th. They issued a “buy” rating and a $21.00 price target for the company. Finally, StockNews.com upgraded shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th.

Institutional Trading of Abeona Therapeutics

Several large investors have recently modified their holdings of ABEO. Bank of New York Mellon Corp grew its holdings in Abeona Therapeutics by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 121,453 shares of the biopharmaceutical company’s stock valued at $515,000 after buying an additional 2,434 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Abeona Therapeutics in the first quarter worth $91,000. Jump Financial LLC bought a new position in Abeona Therapeutics during the fourth quarter worth $199,000. Simplify Asset Management Inc. bought a new position in Abeona Therapeutics during the second quarter worth $1,732,000. Finally, Renaissance Technologies LLC raised its stake in Abeona Therapeutics by 581.6% during the 2nd quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company’s stock valued at $2,134,000 after purchasing an additional 429,456 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

Abeona Therapeutics Company Profile

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.