Abeona Therapeutics Inc (NASDAQ:ABEO) Sees Large Drop in Short Interest

Abeona Therapeutics Inc (NASDAQ:ABEO) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 2,840,000 shares, a decline of 6.3% from the August 15th total of 3,030,000 shares. Based on an average daily volume of 348,000 shares, the days-to-cover ratio is presently 8.2 days. Currently, 7.3% of the company’s shares are sold short.

Abeona Therapeutics Trading Up 2.4 %

NASDAQ ABEO opened at $5.46 on Wednesday. The company’s fifty day simple moving average is $5.19 and its 200-day simple moving average is $5.49. Abeona Therapeutics has a 52 week low of $3.05 and a 52 week high of $9.01. The company has a current ratio of 7.48, a quick ratio of 7.48 and a debt-to-equity ratio of 0.22. The stock has a market cap of $223.66 million, a P/E ratio of -1.71 and a beta of 1.53.

Abeona Therapeutics (NASDAQ:ABEO) last posted 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). Equities research analysts predict that Abeona Therapeutics will post -1.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ABEO has been the topic of a number of recent research reports. Stifel Nicolaus initiated coverage on shares of Abeona Therapeutics in a research report on Thursday, May 30th. They set a “buy” rating and a $21.00 price target on the stock. StockNews.com raised shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Abeona Therapeutics in a research report on Wednesday, August 14th.

Institutional Trading of Abeona Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Simplify Asset Management Inc. acquired a new stake in Abeona Therapeutics in the second quarter valued at $1,732,000. Renaissance Technologies LLC increased its stake in Abeona Therapeutics by 581.6% during the second quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company’s stock valued at $2,134,000 after purchasing an additional 429,456 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Abeona Therapeutics by 2.0% during the second quarter. Bank of New York Mellon Corp now owns 121,453 shares of the biopharmaceutical company’s stock valued at $515,000 after purchasing an additional 2,434 shares during the last quarter. Rosalind Advisors Inc. bought a new stake in Abeona Therapeutics during the second quarter valued at $7,420,000. Finally, Western Standard LLC increased its stake in Abeona Therapeutics by 68.5% during the first quarter. Western Standard LLC now owns 1,361,489 shares of the biopharmaceutical company’s stock valued at $9,871,000 after purchasing an additional 553,377 shares during the last quarter. 80.56% of the stock is 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.