Bank of America Corp DE raised its stake in Abeona Therapeutics Inc (NASDAQ:ABEO) by 547.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,879 shares of the biopharmaceutical company’s stock after purchasing an additional 78,533 shares during the period. Bank of America Corp DE owned 0.20% of Abeona Therapeutics worth $1,486,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Fortaleza Asset Management Inc. bought a new position in shares of Abeona Therapeutics in the second quarter worth about $104,000. Hikari Power Ltd bought a new position in shares of Abeona Therapeutics in the second quarter worth about $530,000. Altshuler Shaham Ltd lifted its holdings in shares of Abeona Therapeutics by 72.2% in the second quarter. Altshuler Shaham Ltd now owns 63,700 shares of the biopharmaceutical company’s stock worth $1,019,000 after acquiring an additional 26,700 shares during the last quarter. TD Asset Management Inc. lifted its holdings in shares of Abeona Therapeutics by 151.4% in the second quarter. TD Asset Management Inc. now owns 81,691 shares of the biopharmaceutical company’s stock worth $1,307,000 after acquiring an additional 49,200 shares during the last quarter. Finally, UBS Group AG lifted its holdings in shares of Abeona Therapeutics by 36.5% in the first quarter. UBS Group AG now owns 152,081 shares of the biopharmaceutical company’s stock worth $2,182,000 after acquiring an additional 40,680 shares during the last quarter. Institutional investors and hedge funds own 72.32% of the company’s stock.
Several research firms have recently issued reports on ABEO. Citigroup lowered their price objective on Abeona Therapeutics from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, November 13th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Abeona Therapeutics in a research note on Saturday, August 11th. ValuEngine downgraded Abeona Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 30th. BidaskClub downgraded Abeona Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. Finally, Mizuho began coverage on Abeona Therapeutics in a research note on Thursday, October 11th. They issued a “buy” rating and a $17.00 price objective for the company. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. Abeona Therapeutics currently has an average rating of “Buy” and an average target price of $26.78.
NASDAQ:ABEO traded up $0.56 on Thursday, reaching $8.15. 689,808 shares of the stock traded hands, compared to its average volume of 851,631. The company has a market capitalization of $363.90 million, a PE ratio of -12.35 and a beta of 1.81. Abeona Therapeutics Inc has a 1-year low of $6.94 and a 1-year high of $22.00.
Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Monday, November 12th. The biopharmaceutical company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.11). The company had revenue of $1.71 million for the quarter, compared to analyst estimates of $1.02 million. Abeona Therapeutics had a negative return on equity of 27.69% and a negative net margin of 843.14%. As a group, research analysts expect that Abeona Therapeutics Inc will post -0.98 EPS for the current fiscal year.
Abeona Therapeutics 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.
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