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

Abeona Therapeutics Inc (NASDAQ:ABEO) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 2,630,000 shares, a decrease of 7.4% from the August 31st total of 2,840,000 shares. Currently, 6.7% of the shares of the company are short sold. Based on an average trading volume of 301,300 shares, the short-interest ratio is currently 8.7 days.

Hedge Funds Weigh In On Abeona Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC bought a new stake in Abeona Therapeutics in the 1st quarter valued at about $91,000. Western Standard LLC boosted its stake in shares of Abeona Therapeutics by 68.5% in the first 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. acquired a new stake in Abeona Therapeutics during the second quarter worth approximately $7,420,000. Bank of New York Mellon Corp increased its stake in Abeona Therapeutics by 2.0% during the 2nd 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. Finally, Renaissance Technologies LLC raised its holdings in Abeona Therapeutics by 581.6% in the 2nd quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company’s stock valued at $2,134,000 after acquiring an additional 429,456 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Abeona Therapeutics Stock Performance

NASDAQ:ABEO opened at $5.89 on Friday. The stock has a 50 day simple moving average of $5.29 and a 200 day simple moving average of $5.36. The stock has a market cap of $241.27 million, a P/E ratio of -1.84 and a beta of 1.53. Abeona Therapeutics has a 1-year low of $3.05 and a 1-year high of $9.01. The company has a current ratio of 7.48, a quick ratio of 7.48 and a debt-to-equity ratio of 0.22.

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings data 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 anticipate that Abeona Therapeutics will post -1.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ABEO shares. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of Abeona Therapeutics in a research report on Wednesday, August 14th. Cantor Fitzgerald restated an “overweight” rating and set a $18.00 target price on shares of Abeona Therapeutics in a research note on Friday, September 20th. Finally, StockNews.com upgraded shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th.

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.