Short Interest in Abeona Therapeutics Inc (NASDAQ:ABEO) Increases By 15.7%

Abeona Therapeutics Inc (NASDAQ:ABEO) was the target of a large 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. Currently, 6.7% of the company’s stock are sold short. Based on an average daily trading volume, of 714,000 shares, the days-to-cover ratio is currently 3.7 days.

Analyst Ratings Changes

ABEO has been the topic of several recent analyst reports. Stifel Nicolaus initiated coverage on Abeona Therapeutics in a research report on Thursday, May 30th. They issued a “buy” rating and a $21.00 price target on the stock. StockNews.com downgraded Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Finally, Cantor Fitzgerald dropped their price target on Abeona Therapeutics from $28.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th.

Insider Activity

In related news, SVP Brendan M. O’malley bought 8,600 shares of Abeona Therapeutics stock in a transaction that occurred on Thursday, April 25th. The stock was purchased at an average cost of $3.24 per share, for a total transaction of $27,864.00. Following the acquisition, the senior vice president now owns 188,718 shares in the company, valued at $611,446.32. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Leila Alland bought 11,000 shares of Abeona Therapeutics stock in a transaction that occurred on Thursday, May 16th. The stock was purchased at an average cost of $4.71 per share, for a total transaction of $51,810.00. Following the acquisition, the director now owns 82,857 shares in the company, valued at $390,256.47. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Brendan M. O’malley bought 8,600 shares of Abeona Therapeutics stock in a transaction that occurred 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 acquisition, the senior vice president now owns 188,718 shares in the company, valued at approximately $611,446.32. The disclosure for this purchase can be found here. Insiders bought a total of 42,758 shares of company stock worth $154,047 in the last three months. 5.30% of the stock is owned by insiders.

Institutional Trading of Abeona Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of Abeona Therapeutics during the first quarter valued at approximately $91,000. Jump Financial LLC bought a new stake in shares of Abeona Therapeutics during the fourth quarter valued at approximately $199,000. Worth Venture Partners LLC increased its position in shares of Abeona Therapeutics by 76.6% during 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. Schonfeld Strategic Advisors LLC bought a new stake in Abeona Therapeutics in the third quarter valued at $648,000. Finally, Western Standard LLC grew its position 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 acquiring an additional 553,377 shares during the period. 80.56% of the stock is currently owned by institutional investors.

Abeona Therapeutics Stock Down 1.9 %

Shares of NASDAQ ABEO opened at $4.12 on Wednesday. The company has a market cap of $168.76 million, a P/E ratio of -1.29 and a beta of 1.59. Abeona Therapeutics has a 12 month low of $2.83 and a 12 month high of $9.01. The business’s 50 day moving average is $4.26 and its two-hundred day moving average is $5.62.

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