Abeona Therapeutics Receives Buy Rating from HC Wainwright

Abeona Therapeutics (NASDAQ:ABEO) had its "buy" rating reaffirmed by HC Wainwright in a research report published on Thursday. They set a target price of $15.00 on the stock, which suggests a significant potential upside of about 135.85% compared to the stock's last closing price.

Several other financial institutions have recently provided updates on Abeona Therapeutics. StockNews.com changed their rating for the company from "sell" to "hold" in a note issued on September 10. Additionally, Cantor Fitzgerald maintained an "overweight" rating and set a price objective of $18.00 for Abeona Therapeutics shares.

Abeona Therapeutics Stock Performance Overview

On Thursday, shares of Abeona Therapeutics opened at $6.36. The company has a relatively low debt-to-equity ratio of 0.22, along with a current ratio and quick ratio both at 7.48, indicating strong liquidity. The stock's 50-day simple moving average is $5.99, while its 200-day simple moving average stands at $5.17. Abeona Therapeutics has a market capitalization of approximately $260.52 million, a PE ratio of -1.99, and a beta of 1.53. Over the past year, the stock has seen a low of $3.05 and a high of $9.01.

Recently, Abeona Therapeutics disclosed its quarterly earnings on August 12, where it reported an EPS of -$0.75, falling short of the consensus expectation of -$0.33 by $0.42. Analysts forecast that the company will report an EPS of -$1.28 for the current fiscal year.

Institutional Investors' Involvement

Hedge funds and other institutional investors have been active in trading shares of Abeona Therapeutics. For instance, Acadian Asset Management LLC invested approximately $91,000 to acquire a new stake in the first quarter. Furthermore, Western Standard LLC increased its holdings by 68.5%, now owning a total of 1,361,489 shares valued at nearly $9.87 million after buying an additional 553,377 shares. Other major institutional transactions include Rosalind Advisors Inc. purchasing shares worth $7.42 million and Bank of New York Mellon Corp raising its stake slightly to a total of 121,453 shares valued at $515,000. Notably, Renaissance Technologies LLC significantly increased its position by 581.6%, resulting in ownership of 503,293 shares valued at about $2.13 million. Presently, approximately 80.56% of Abeona Therapeutics’ stock is owned by institutional investors.

Company Profile of Abeona Therapeutics

Abeona Therapeutics Inc. is in the clinical-stage of its operations and is dedicated to developing innovative gene therapy products aimed at treating severe and life-threatening rare diseases. The company's flagship programs involve EB-101, which consists of gene-corrected skin grafts for treating recessive dystrophic epidermolysis bullosa (RDEB), along with ABO-102 and ABO-101, which are AAV-based gene therapies targeted towards curing Sanfilippo syndrome types A and B, respectively.

Abeona, Therapeutics, Stocks