Abeona Therapeutics (NASDAQ:ABEO) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Abeona Therapeutics (NASDAQ:ABEO) in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has a $18.00 price target on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued research reports about the company. HC Wainwright reissued a “buy” rating and set a $15.00 target price on shares of Abeona Therapeutics in a report on Wednesday, August 14th. StockNews.com upgraded shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th.

Abeona Therapeutics Stock Performance

Shares of ABEO stock opened at $6.57 on Tuesday. The company has a market capitalization of $269.13 million, a price-to-earnings ratio of -2.05 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 has a 52 week low of $3.05 and a 52 week high of $9.01. The company has a 50-day simple moving average of $5.99 and a 200 day simple moving average of $5.17.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings data on Monday, August 12th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.42). On average, sell-side analysts predict that Abeona Therapeutics will post -1.28 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC grew its stake in Abeona Therapeutics by 581.6% during the second quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company’s stock worth $2,134,000 after buying an additional 429,456 shares in the last quarter. Simplify Asset Management Inc. bought a new stake in Abeona Therapeutics during the second quarter worth $1,732,000. Acadian Asset Management LLC bought a new position in shares of Abeona Therapeutics in the 1st quarter valued at $91,000. Bank of New York Mellon Corp lifted 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 buying an additional 2,434 shares during the last quarter. Finally, abrdn plc grew its position in Abeona Therapeutics by 158.8% in the third quarter. abrdn plc now owns 326,995 shares of the biopharmaceutical company’s stock valued at $2,067,000 after acquiring an additional 200,647 shares during the last quarter. 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.