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

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

Hedge Funds Weigh In On Abeona Therapeutics

Several hedge funds have recently added to or reduced their stakes in ABEO. Bank of New York Mellon Corp grew its holdings in shares of 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 worth $515,000 after buying an additional 2,434 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Abeona Therapeutics during the first quarter worth about $91,000. Jump Financial LLC purchased a new stake in shares of Abeona Therapeutics during the fourth quarter worth about $199,000. Simplify Asset Management Inc. purchased a new stake in shares of Abeona Therapeutics during the second quarter worth about $1,732,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Abeona Therapeutics by 581.6% during the second quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company’s stock worth $2,134,000 after buying an additional 429,456 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ABEO. StockNews.com upgraded shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Abeona Therapeutics in a research note on Wednesday, August 14th. Finally, Stifel Nicolaus started coverage on shares of Abeona Therapeutics in a research note on Thursday, May 30th. They issued a “buy” rating and a $21.00 price objective for the company.

Abeona Therapeutics Stock Performance

NASDAQ:ABEO opened at $5.46 on Wednesday. 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 firm has a 50-day moving average price of $5.19 and a two-hundred day moving average price of $5.49. Abeona Therapeutics has a twelve month low of $3.05 and a twelve month high of $9.01. The company has a market capitalization 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) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.42). As a group, research analysts expect that Abeona Therapeutics will post -1.28 earnings per share for the current fiscal year.

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.