Abeona Therapeutics (NASDAQ:ABEO) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Abeona Therapeutics (NASDAQ:ABEOGet Rating) in a note issued to investors on Wednesday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

NASDAQ:ABEO opened at $0.17 on Wednesday. The firm’s 50-day moving average price is $0.19 and its 200-day moving average price is $0.27. The company has a market capitalization of $24.69 million, a PE ratio of -0.20 and a beta of 1.51. Abeona Therapeutics has a 1-year low of $0.13 and a 1-year high of $1.75.

Abeona Therapeutics (NASDAQ:ABEOGet Rating) last released its earnings results on Friday, May 13th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The firm had revenue of $0.35 million for the quarter. As a group, analysts expect that Abeona Therapeutics will post -0.28 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in ABEO. Morgan Stanley increased its holdings in Abeona Therapeutics by 242.6% in the 2nd quarter. Morgan Stanley now owns 1,815,198 shares of the biopharmaceutical company’s stock worth $2,833,000 after acquiring an additional 1,285,445 shares in the last quarter. Geode Capital Management LLC grew its holdings in Abeona Therapeutics by 24.0% during the 3rd quarter. Geode Capital Management LLC now owns 814,919 shares of the biopharmaceutical company’s stock valued at $912,000 after buying an additional 157,898 shares in the last quarter. Franklin Resources Inc. purchased a new stake in Abeona Therapeutics during the 3rd quarter valued at approximately $364,000. Assenagon Asset Management S.A. grew its holdings in Abeona Therapeutics by 876.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,127,813 shares of the biopharmaceutical company’s stock valued at $1,054,000 after buying an additional 2,807,578 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in Abeona Therapeutics by 1,166,274.8% during the 4th quarter. BNP Paribas Arbitrage SA now owns 1,854,536 shares of the biopharmaceutical company’s stock valued at $625,000 after buying an additional 1,854,377 shares in the last quarter. Institutional investors own 27.81% of the company’s stock.

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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