Abeona Therapeutics Inc (NASDAQ:ABEO) Sees Significant Decline in Short Interest

Abeona Therapeutics Inc (NASDAQ:ABEO) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 2,630,000 shares, a drop of 7.4% from the August 31st total of 2,840,000 shares. Approximately 6.7% of the company’s shares are short sold. Based on an average trading volume of 301,300 shares, the short-interest ratio is currently 8.7 days.

Wall Street Analyst Weigh In

ABEO has been the topic of a number of research analyst reports. StockNews.com upgraded Abeona Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $18.00 target price on shares of Abeona Therapeutics in a research note on Friday, September 20th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of Abeona Therapeutics in a research note on Wednesday, August 14th.

Abeona Therapeutics Price Performance

ABEO stock opened at $6.32 on Tuesday. The firm has a 50-day moving average of $5.32 and a 200 day moving average of $5.33. The company has a debt-to-equity ratio of 0.22, a current ratio of 7.48 and a quick ratio of 7.48. The company has a market cap of $258.89 million, a P/E ratio of -1.98 and a beta of 1.53. Abeona Therapeutics has a 1 year low of $3.05 and a 1 year high of $9.01.

Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Monday, August 12th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.42). On average, sell-side analysts forecast that Abeona Therapeutics will post -1.28 EPS for the current year.

Institutional Trading of Abeona Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of ABEO. Bank of New York Mellon Corp lifted its position in Abeona Therapeutics by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 121,453 shares of the biopharmaceutical company’s stock valued at $515,000 after acquiring an additional 2,434 shares during the period. Acadian Asset Management LLC bought a new position in shares of Abeona Therapeutics during the first quarter valued at approximately $91,000. Simplify Asset Management Inc. purchased a new position in shares of Abeona Therapeutics during the second quarter valued at approximately $1,732,000. Renaissance Technologies LLC boosted its position in shares of Abeona Therapeutics by 581.6% in the 2nd quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company’s stock worth $2,134,000 after purchasing an additional 429,456 shares in the last quarter. Finally, Western Standard LLC grew its stake in shares of Abeona Therapeutics by 68.5% in the 1st quarter. Western Standard LLC now owns 1,361,489 shares of the biopharmaceutical company’s stock worth $9,871,000 after buying an additional 553,377 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

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.