Shares of Abeona Therapeutics Inc (NASDAQ:ABEO) dropped 0.3% during trading on Thursday . The stock traded as low as $9.66 and last traded at $10.00. Approximately 22,180 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 888,127 shares. The stock had previously closed at $10.03.

ABEO has been the topic of several analyst reports. BidaskClub upgraded Abeona Therapeutics from a “hold” rating to a “buy” rating in a report on Monday, June 18th. B. Riley initiated coverage on Abeona Therapeutics in a report on Wednesday, June 27th. They issued a “buy” rating and a $26.00 target price on the stock. Zacks Investment Research cut Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, July 17th. HC Wainwright set a $30.00 target price on Abeona Therapeutics and gave the company a “buy” rating in a report on Friday, July 27th. Finally, ValuEngine upgraded Abeona Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. Abeona Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $26.80.

The company has a market cap of $613.67 million, a PE ratio of -15.80 and a beta of 1.10.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Friday, August 10th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.06). Abeona Therapeutics had a negative net margin of 881.74% and a negative return on equity of 23.02%. The business had revenue of $0.82 million during the quarter, compared to analyst estimates of $1.81 million. Sell-side analysts expect that Abeona Therapeutics Inc will post -0.88 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of ABEO. Fortaleza Asset Management Inc. acquired a new position in Abeona Therapeutics in the second quarter valued at approximately $104,000. Parkside Advisors LLC acquired a new position in Abeona Therapeutics in the third quarter valued at approximately $160,000. United Services Automobile Association acquired a new position in Abeona Therapeutics in the second quarter valued at approximately $162,000. MetLife Investment Advisors LLC lifted its stake in Abeona Therapeutics by 57.8% in the second quarter. MetLife Investment Advisors LLC now owns 19,333 shares of the biopharmaceutical company’s stock valued at $309,000 after buying an additional 7,085 shares during the period. Finally, Mesirow Financial Investment Management Inc. acquired a new position in Abeona Therapeutics in the second quarter valued at approximately $348,000. 76.24% of the stock is currently owned by hedge funds and other institutional investors.

Abeona Therapeutics Company Profile (NASDAQ:ABEO)

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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