Short Interest in Abeona Therapeutics Inc (NASDAQ:ABEO) Decreases By 6.8%

Abeona Therapeutics Inc (NASDAQ:ABEO) saw a large decline in short interest in January. As of January 31st, there was short interest totalling 2,480,000 shares, a decline of 6.8% from the January 15th total of 2,660,000 shares. Based on an average trading volume of 273,400 shares, the days-to-cover ratio is presently 9.1 days. Approximately 6.5% of the company’s shares are short sold.

Abeona Therapeutics Price Performance

NASDAQ ABEO opened at $5.85 on Wednesday. The firm’s 50-day simple moving average is $5.66 and its two-hundred day simple moving average is $5.80. Abeona Therapeutics has a 52 week low of $3.05 and a 52 week high of $9.01. The company has a market cap of $254.30 million, a PE ratio of -2.17 and a beta of 1.43. The company has a quick ratio of 6.12, a current ratio of 6.12 and a debt-to-equity ratio of 0.31.

Institutional Investors Weigh In On Abeona Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Western Standard LLC increased its position in shares of Abeona Therapeutics by 22.8% in the fourth quarter. Western Standard LLC now owns 2,084,418 shares of the biopharmaceutical company’s stock worth $11,610,000 after purchasing an additional 386,321 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Abeona Therapeutics in the fourth quarter worth $67,000. Twinbeech Capital LP purchased a new stake in Abeona Therapeutics in the fourth quarter worth $58,000. OMERS ADMINISTRATION Corp purchased a new stake in Abeona Therapeutics in the fourth quarter worth $362,000. Finally, Balyasny Asset Management L.P. bought a new position in Abeona Therapeutics in the fourth quarter worth $190,000. 80.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of Abeona Therapeutics in a research note on Monday, November 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $18.00 price target on shares of Abeona Therapeutics in a report on Tuesday, October 29th. Finally, StockNews.com raised shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, February 14th.

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.