HC Wainwright Reaffirms “Buy” Rating for Abeona Therapeutics (NASDAQ:ABEO)

Abeona Therapeutics (NASDAQ:ABEO)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $15.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 156.41% from the company’s current price.

A number of other research analysts have also issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $18.00 target price on shares of Abeona Therapeutics in a research note on Tuesday, October 29th. StockNews.com raised Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, February 14th.

Abeona Therapeutics Stock Down 2.8 %

Shares of Abeona Therapeutics stock opened at $5.85 on Wednesday. Abeona Therapeutics has a 12-month low of $3.05 and a 12-month high of $9.01. The stock has a market capitalization of $254.30 million, a P/E ratio of -2.17 and a beta of 1.43. The company has a quick ratio of 6.12, a current ratio of 6.12 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average price of $5.66 and a two-hundred day moving average price of $5.80.

Hedge Funds Weigh In On Abeona Therapeutics

Large investors have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. grew its position in Abeona Therapeutics by 20.1% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,902,360 shares of the biopharmaceutical company’s stock worth $21,736,000 after purchasing an additional 652,366 shares during the last quarter. Western Standard LLC lifted its stake in shares of Abeona Therapeutics by 22.8% in the fourth quarter. Western Standard LLC now owns 2,084,418 shares of the biopharmaceutical company’s stock valued at $11,610,000 after buying an additional 386,321 shares during the period. Rosalind Advisors Inc. grew its position in Abeona Therapeutics by 4.7% during the third quarter. Rosalind Advisors Inc. now owns 1,832,000 shares of the biopharmaceutical company’s stock worth $11,578,000 after buying an additional 82,000 shares in the last quarter. 683 Capital Management LLC increased its stake in Abeona Therapeutics by 17.3% during the fourth quarter. 683 Capital Management LLC now owns 791,845 shares of the biopharmaceutical company’s stock valued at $4,411,000 after acquiring an additional 116,845 shares during the period. Finally, Citigroup Inc. raised its holdings in Abeona Therapeutics by 10.1% in the 3rd quarter. Citigroup Inc. now owns 616,668 shares of the biopharmaceutical company’s stock valued at $3,897,000 after acquiring an additional 56,332 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

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.