Shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) shot up 4.5% during trading on Thursday following insider buying activity. The stock traded as high as $6.15 and last traded at $6.00, with a volume of 222,575 shares traded. The stock had previously closed at $5.74.
Specifically, Director Todd Wider purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 20th. The stock was bought at an average cost of $5.48 per share, with a total value of $27,400.00. Following the completion of the purchase, the director now owns 75,000 shares in the company, valued at $411,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 13.00% of the company’s stock.
A number of brokerages recently commented on ABEO. Cantor Fitzgerald reissued a “buy” rating and set a $21.00 price target on shares of Abeona Therapeutics in a research note on Friday, September 23rd. Zacks Investment Research lowered Abeona Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, August 22nd. FBR & Co reissued a “buy” rating and set a $15.00 price target on shares of Abeona Therapeutics in a research note on Friday, August 26th. Maxim Group set a $6.00 price target on Abeona Therapeutics and gave the company a “buy” rating in a research note on Thursday, August 18th. Finally, Rodman & Renshaw reissued a “buy” rating and set a $17.00 price target on shares of Abeona Therapeutics in a research note on Sunday, August 21st. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $14.00.
The stock’s 50 day moving average is $4.80 and its 200-day moving average is $3.25. The company’s market capitalization is $198.25 million.
Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings data on Tuesday, August 16th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.06. Abeona Therapeutics had a negative return on equity of 30.84% and a negative net margin of 2,177.03%. On average, equities research analysts predict that Abeona Therapeutics Inc. will post ($0.73) earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in Abeona Therapeutics by 16.7% in the first quarter. Geode Capital Management LLC now owns 70,496 shares of the biopharmaceutical company’s stock worth $180,000 after buying an additional 10,082 shares in the last quarter. BlackRock Fund Advisors raised its stake in Abeona Therapeutics by 8.5% in the first quarter. BlackRock Fund Advisors now owns 302,262 shares of the biopharmaceutical company’s stock worth $774,000 after buying an additional 23,734 shares in the last quarter. Sabby Management LLC raised its stake in Abeona Therapeutics by 11.4% in the first quarter. Sabby Management LLC now owns 334,108 shares of the biopharmaceutical company’s stock worth $855,000 after buying an additional 34,108 shares in the last quarter. Finally, Royce & Associates LP raised its stake in Abeona Therapeutics by 25.6% in the first quarter. Royce & Associates LP now owns 376,321 shares of the biopharmaceutical company’s stock worth $963,000 after buying an additional 76,678 shares in the last quarter. 19.95% of the stock is currently owned by institutional investors and hedge funds.
Abeona Therapeutics Company Profile
Abeona Therapeutics, Inc (Abeona), formerly PlasmaTech Biopharmaceuticals, Inc, is focused on developing and delivering gene therapy and plasma-based products for rare diseases. The Company’s lead programs are ABO-101 (AA9 NAGLU) and ABO-102 (scAAV9 SGHG), adeno-associated virus (AAV)-based gene therapies for Sanfilippo syndrome (Mucopolysaccharidosis (MPS) IIIA and IIIB) in collaboration with patient advocate groups, researchers and clinicians.
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