Abeona Therapeutics (NASDAQ:ABEO) Stock Passes Below 200-Day Moving Average of $5.49

Shares of Abeona Therapeutics Inc (NASDAQ:ABEO) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $5.49 and traded as low as $5.33. Abeona Therapeutics shares last traded at $5.46, with a volume of 181,045 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. 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 target price on the stock. StockNews.com raised Abeona Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of Abeona Therapeutics in a research note on Wednesday, August 14th.

Abeona Therapeutics Stock Performance

The firm’s 50 day moving average price is $5.19 and its two-hundred day moving average price is $5.49. The firm has a market cap of $223.66 million, a PE ratio of -1.71 and a beta of 1.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.48 and a current ratio of 7.48.

Abeona Therapeutics (NASDAQ:ABEO) last issued 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). On average, research analysts forecast that Abeona Therapeutics Inc will post -1.28 earnings per share for the current year.

Institutional Trading of Abeona Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of ABEO. Acadian Asset Management LLC acquired a new position in Abeona Therapeutics in the first quarter valued at about $91,000. Jump Financial LLC acquired a new position in shares of Abeona Therapeutics in the 4th quarter worth approximately $199,000. Bank of New York Mellon Corp boosted its position in shares of 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 purchasing an additional 2,434 shares during the period. Simplify Asset Management Inc. acquired a new stake in Abeona Therapeutics in the 2nd quarter valued at approximately $1,732,000. Finally, Renaissance Technologies LLC raised its position in Abeona Therapeutics by 581.6% in the second 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 period. 80.56% of the stock is owned by institutional investors and hedge funds.

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.