Abeona Therapeutics Inc. (NASDAQ:ABEO) Traded Above Its 50 Day Moving Average

Mindy Sparks
October 17, 2017

They hope that the stock price will fall or that the company will fail and go bankrupt, leading the equity holders to ruin. Cantor Fitzgerald's price objective suggests a potential upside of 30.43% from the company's current price. Cantor Fitzgerald set a $21.00 price target on shares of Abeona Therapeutics and gave the company a "buy" rating in a report on Tuesday, July 18th. RBC Capital Markets initiated it with "Outperform" rating and $23 target in Friday, September 15 report. They now have a Dollars 32 price target on the stock. This rating was shown in analysts note on Thursday, 12 October.

At the end of June reporting period, 36 institutional holders increased their position in Abeona Therapeutics Inc. The firm has "Buy" rating by Maxim Group given on Thursday, April 13. The stock has a consensus rating of "Buy" and an average target price of $22.56.

The consensus analysts recommendation at this point stands at 1.70 on Abeona Therapeutics Inc. With short interest at 5,466,540 and short average daily volume at 1,272,823, the short-interest ratio is 4.0 and the percentage of shorted shares was 0.14% on September 29.

On Monday morning, Abeona Therapeutics announced that the company was a recipient of $13.85 million in grants meant to fund the advancement of clinical stage gene therapies for 2 variations of mucopolysaccharidosis (MPS).

In taking a look at technical levels, shares are trading 28.06% away from the 50 day simple moving average and 120.26% away from the 200 day simple moving average.


As of writing, Abeona Therapeutics Inc.'s RSI stands at 53.66.

Having a price of $16.24, Abeona Therapeutics Inc (NDAQ:ABEO) traded -8.26% lower on the day. The company had revenue of $0.22 million during the quarter, compared to analyst estimates of $0.21 million. Over the past twelve months, Abeona Therapeutics Inc.

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A number of other institutional investors also recently added to or reduced their stakes in ABEO. Analysts expect next quarter's EPS to be $-0.18 with next year's EPS anticipated to be $-0.79. Finally, Opaleye Management Inc. increased its stake in shares of Abeona Therapeutics by 300.0% in the fourth quarter.

About 2,750 shares traded. LLC acquired a new stake in shares of Abeona Therapeutics during the second quarter worth $594,000. Wellington Management Group LLP boosted its stake in Abeona Therapeutics by 17.4% during the 1st quarter. Elm Ridge Management Llc, a New York-based fund reported 791,670 shares. Bank of New York Mellon Corp now owns 41,929 shares of the biopharmaceutical company's stock worth $210,000 after purchasing an additional 23,358 shares during the period. The Company, through its subsidiaries, owns and invests in real estate serving the healthcare industry. It is also developing ABO-101 (AAV-NAGLU) for Sanfilippo syndrome type B (MPS IIIB), ABO-201 (AAV-CLN3) gene therapy for juvenile Batten disease (JNCL), ABO-202 (AAV-CLN1) for treatment of infantile Batten disease (INCL), EB-201 for epidermolysis bullosa, ABO-301 (AAV-FANCC) for Fanconi anemia disorder and ABO-302 using a novel CRISPR/Cas9 gene editing approach to gene therapy for rare blood diseases.

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