Abeona Therapeutics Inc (NASDAQ:ABEO – Free Report) – Equities research analysts at Zacks Small Cap raised their FY2023 earnings per share estimates for Abeona Therapeutics in a report released on Wednesday, November 15th. Zacks Small Cap analyst D. Bautz now anticipates that the biopharmaceutical company will earn ($2.04) per share for the year, up from their prior estimate of ($2.08). The consensus estimate for Abeona Therapeutics’ current full-year earnings is ($2.08) per share.
A number of other brokerages have also recently weighed in on ABEO. StockNews.com cut Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday. Cantor Fitzgerald restated an “overweight” rating and issued a $38.00 target price on shares of Abeona Therapeutics in a report on Thursday, August 24th.
Abeona Therapeutics Price Performance
ABEO stock opened at $4.22 on Friday. Abeona Therapeutics has a 12 month low of $2.19 and a 12 month high of $5.40. The firm has a 50 day moving average of $4.08 and a two-hundred day moving average of $3.86.
Insider Buying and Selling
In other news, CEO Vishwas Seshadri bought 20,000 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was purchased at an average price of $4.07 per share, with a total value of $81,400.00. Following the transaction, the chief executive officer now directly owns 521,731 shares in the company, valued at $2,123,445.17. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.30% of the stock is owned by insiders.
Institutional Trading of Abeona Therapeutics
Several institutional investors have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. increased its position in shares of Abeona Therapeutics by 84.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 3,249,994 shares of the biopharmaceutical company’s stock worth $13,682,000 after purchasing an additional 1,488,834 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Abeona Therapeutics in the 4th quarter valued at approximately $3,544,000. Armistice Capital LLC bought a new position in shares of Abeona Therapeutics during the fourth quarter worth $3,406,000. AIGH Capital Management LLC grew its stake in Abeona Therapeutics by 77.7% in the third quarter. AIGH Capital Management LLC now owns 1,135,252 shares of the biopharmaceutical company’s stock valued at $4,779,000 after acquiring an additional 496,278 shares during the period. Finally, Citigroup Inc. grew its position in shares of Abeona Therapeutics by 125.0% in the 3rd quarter. Citigroup Inc. now owns 450,000 shares of the biopharmaceutical company’s stock valued at $1,894,000 after purchasing an additional 250,000 shares during the period. Institutional investors and hedge funds own 43.97% 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.
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