Abeona Therapeutics (NASDAQ:ABEO) Share Price Crosses Above 50-Day Moving Average - Here's What Happened

Abeona Therapeutics Inc (NASDAQ:ABEO - Get Free Report)'s share price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $5.56 and traded as high as $6.66. Abeona Therapeutics shares last traded at $6.58, with a volume of 375,543 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. HC Wainwright restated a "buy" rating and issued a $15.00 price target on shares of Abeona Therapeutics in a research report on Wednesday, August 14th. StockNews.com upgraded Abeona Therapeutics from a "sell" rating to a "hold" rating in a report on Tuesday, September 10th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $18.00 price target on shares of Abeona Therapeutics in a report on Friday, September 20th.

Abeona Therapeutics Trading Down 2.6 %

The stock has a market cap of $277.62 million, a PE ratio of -2.52 and a beta of 1.53. The company's 50-day moving average price is $5.59 and its 200 day moving average price is $5.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.48 and a current ratio of 7.48.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last posted its earnings results on Monday, August 12th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.42). On average, sell-side analysts forecast that Abeona Therapeutics Inc will post -1.28 EPS for the current fiscal year.

Institutional Trading of Abeona Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Simplify Asset Management Inc. purchased a new stake in Abeona Therapeutics in the second quarter valued at approximately $1,732,000. Renaissance Technologies LLC raised its holdings in shares of Abeona Therapeutics by 581.6% in the 2nd quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company's stock valued at $2,134,000 after buying an additional 429,456 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Abeona Therapeutics in the 1st quarter valued at $91,000. Bank of New York Mellon Corp lifted its stake in Abeona Therapeutics by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 121,453 shares of the biopharmaceutical company's stock worth $515,000 after acquiring an additional 2,434 shares in the last quarter. Finally, Rosalind Advisors Inc. purchased a new position in Abeona Therapeutics during the 2nd quarter valued at about $7,420,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

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.