Cantor Fitzgerald Reiterates Overweight Rating for Abeona Therapeutics (NASDAQ:ABEO)

Cantor Fitzgerald restated their overweight rating on shares of Abeona Therapeutics (NASDAQ:ABEO) in a research report released on Tuesday morning, Benzinga reports. Cantor Fitzgerald currently has a $36.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald also issued estimates for Abeona Therapeutics’ FY2024 earnings at ($2.38) EPS.

Separately, StockNews.com cut shares of Abeona Therapeutics from a hold rating to a sell rating in a research note on Tuesday.

Abeona Therapeutics Stock Up 2.2 %

ABEO stock opened at $3.26 on Tuesday. Abeona Therapeutics has a fifty-two week low of $2.83 and a fifty-two week high of $9.01. The firm’s 50-day simple moving average is $7.31 and its 200 day simple moving average is $5.61. The stock has a market cap of $89.16 million, a PE ratio of -1.26 and a beta of 1.49.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings data on Monday, March 18th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.13). Equities analysts forecast that Abeona Therapeutics will post -1.83 EPS for the current fiscal year.

Insider Buying and Selling at Abeona Therapeutics

In related news, SVP Brendan M. O’malley bought 8,600 shares of the stock in a transaction on Thursday, April 25th. The shares were purchased at an average price of $3.24 per share, with a total value of $27,864.00. Following the purchase, the senior vice president now owns 188,718 shares in the company, valued at $611,446.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Abeona Therapeutics

Large investors have recently bought and sold shares of the stock. Simplex Trading LLC boosted its position in shares of Abeona Therapeutics by 1,889.9% during the 3rd quarter. Simplex Trading LLC now owns 14,128 shares of the biopharmaceutical company’s stock valued at $59,000 after purchasing an additional 13,418 shares in the last quarter. Jump Financial LLC bought a new position in shares of Abeona Therapeutics during the 4th quarter valued at about $199,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Abeona Therapeutics during the 3rd quarter valued at about $648,000. Worth Venture Partners LLC boosted its position in shares of Abeona Therapeutics by 76.6% during the 3rd 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 in the last quarter. Finally, Barclays PLC boosted its position in shares of Abeona Therapeutics by 100.0% during the 3rd quarter. Barclays PLC now owns 371,276 shares of the biopharmaceutical company’s stock valued at $1,564,000 after purchasing an additional 185,638 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

About Abeona Therapeutics

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.