StockNews.com Begins Coverage on Abeona Therapeutics (NASDAQ:ABEO)

StockNews.com started coverage on shares of Abeona Therapeutics (NASDAQ:ABEOGet Rating) in a report released on Saturday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Separately, Zacks Investment Research raised Abeona Therapeutics from a hold rating to a buy rating and set a $0.25 price objective for the company in a research report on Tuesday, April 5th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Abeona Therapeutics currently has a consensus rating of Buy and a consensus price target of $1.75.

ABEO stock opened at $0.15 on Friday. Abeona Therapeutics has a one year low of $0.13 and a one year high of $1.92. The firm has a market capitalization of $22.48 million, a PE ratio of -0.19 and a beta of 1.50. The firm has a 50-day moving average of $0.24 and a two-hundred day moving average of $0.36.

Abeona Therapeutics (NASDAQ:ABEOGet Rating) last released its quarterly earnings data on Friday, May 13th. The biopharmaceutical company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04). As a group, analysts forecast that Abeona Therapeutics will post -0.29 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the stock. Morgan Stanley increased its position in shares of Abeona Therapeutics by 242.6% during the 2nd quarter. Morgan Stanley now owns 1,815,198 shares of the biopharmaceutical company’s stock worth $2,833,000 after purchasing an additional 1,285,445 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Abeona Therapeutics by 24.0% during the 3rd quarter. Geode Capital Management LLC now owns 814,919 shares of the biopharmaceutical company’s stock worth $912,000 after purchasing an additional 157,898 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Abeona Therapeutics during the 3rd quarter worth approximately $37,000. Franklin Resources Inc. acquired a new position in shares of Abeona Therapeutics during the 3rd quarter worth approximately $364,000. Finally, ACT Capital L.L.C. acquired a new position in shares of Abeona Therapeutics during the 3rd quarter worth approximately $311,000. 27.81% of the stock is currently owned by institutional investors and hedge funds.

About Abeona Therapeutics (Get Rating)

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.

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