Abeona Therapeutics Inc (NASDAQ:ABEO) Short Interest Update

Abeona Therapeutics Inc (NASDAQ:ABEO) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 2,650,000 shares, an increase of 15.7% from the May 31st total of 2,290,000 shares. Approximately 6.7% of the shares of the stock are sold short. Based on an average daily volume of 714,000 shares, the days-to-cover ratio is currently 3.7 days.

Insider Activity at Abeona Therapeutics

In related news, CEO Vishwas Seshadri purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was purchased at an average price of $3.20 per share, with a total value of $32,000.00. Following the completion of the acquisition, the chief executive officer now owns 538,260 shares in the company, valued at $1,722,432. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Abeona Therapeutics news, SVP Brendan M. O’malley bought 8,600 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was bought at an average price of $3.24 per share, with a total value of $27,864.00. Following the completion of the purchase, the senior vice president now directly owns 188,718 shares in the company, valued at $611,446.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vishwas Seshadri bought 10,000 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were acquired at an average cost of $3.20 per share, with a total value of $32,000.00. Following the purchase, the chief executive officer now owns 538,260 shares of the company’s stock, valued at $1,722,432. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 42,758 shares of company stock valued at $154,047. 5.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ABEO. Acadian Asset Management LLC purchased a new position in Abeona Therapeutics in the first quarter valued at $91,000. Jump Financial LLC purchased a new position in Abeona Therapeutics in the fourth quarter valued at $199,000. Schonfeld Strategic Advisors LLC purchased a new position in Abeona Therapeutics in the third quarter valued at $648,000. Worth Venture Partners LLC boosted its holdings in Abeona Therapeutics by 76.6% in the third quarter. Worth Venture Partners LLC now owns 281,280 shares of the biopharmaceutical company’s stock valued at $1,184,000 after purchasing an additional 121,969 shares during the period. Finally, Western Standard LLC boosted its holdings in Abeona Therapeutics by 68.5% in the first quarter. Western Standard LLC now owns 1,361,489 shares of the biopharmaceutical company’s stock valued at $9,871,000 after purchasing an additional 553,377 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Cantor Fitzgerald cut their target price on Abeona Therapeutics from $28.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. Stifel Nicolaus assumed coverage on Abeona Therapeutics in a research note on Thursday, May 30th. They set a “buy” rating and a $21.00 target price for the company. Finally, StockNews.com cut Abeona Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd.

Abeona Therapeutics Stock Up 1.2 %

ABEO opened at $4.24 on Monday. Abeona Therapeutics has a 52 week low of $2.83 and a 52 week high of $9.01. The business has a fifty day simple moving average of $4.31 and a 200-day simple moving average of $5.63. The firm has a market cap of $173.67 million, a P/E ratio of -1.32 and a beta of 1.53.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.06). Sell-side analysts expect that Abeona Therapeutics will post -1.75 earnings per share for the current year.

Abeona Therapeutics Company Profile

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.