Company shares last traded at $17.95 just a bit higher than the 50 day moving average of $16.96 and quite a bit above the 200 day moving average of $9.85. The 50 day moving average was up by +5.81% whereas the 200 day average was up by +82.30%. Trading volume for Abeona Therapeutics Inc. was 543K by the end of trading on Tuesday. Trading volume was down 63.35% under the stocks average daily volume.
Investors are a little more bearish on shares of Abeona Therapeutics Inc. recently as shown by the increase in short interest. The stock saw a rise in short interest of 19.11% between September 29, 2017 and October 13, 2017. Short interest grew 1,044,448 over that period. Days to cover increased from 4.0 to 5.0 and the percentage of shorted shares was 0.16% on October 13.
These firms have modified their investment in ABEO. Hartford Financial Management Inc. augmented its investment by buying 1,200 shares an increase of 6.7%. Hartford Financial Management Inc. now controls 19,100 shares with a value of $325,000. The total value of its holdings increased 185.1%. As of quarter end Cutler Group LP had acquired a total of 3,100 shares growing its position 258.3%. The value of the total investment in Abeona Therapeutics Inc. increased from $0 to $2,000 a change of inf% quarter over quarter.
Mutual Of America Capital Management LLC grew its ownership by buying 1,000 shares an increase of 40.0% in the quarter. Mutual Of America Capital Management LLC owns 3,500 shares worth $60,000. The value of the position overall is up by 275.0%. As of the end of the quarter Simplex Trading, LLC had bought 12,223 shares growing its stake by 248.8%. The value of the investment in ABEO went from $31,000 to $292,000 increasing 841.9% for the reporting period.
On September 15, 2017 RBC Capital started covering ABEO by announcing an initial rating of “Outperform”. On October 10 analysts at Citigroup initiated coverage on ABEO giving it an initial rating of “Buy”.
As of the latest earnings report the EPS was $-0.61 and is projected to be $-0.69 for the current year with 40,287,000 shares outstanding. Analysts expect next quarter’s EPS to be $-0.18 and the next full year EPS is projected to be $-0.77.
Abeona Therapeutics, Inc. (Abeona), formerly PlasmaTech Biopharmaceuticals, Inc., launched on June 22, 1989, is focused on developing and delivering gene therapy and plasma-based products for rare diseases. The Business’s lead programs are ABO-101 (AA9 NAGLU) and ABO-102 (scAAV9 SGHG), adeno-associated virus (AAV)-based gene therapies for Sanfilippo syndrome (Mucopolysaccharidosis (MPS) IIIA and IIIB) in collaboration with patient advocate groups, researchers and clinicians. The Company is also developing ABO-201 (scAAV9 CLN3) gene therapy for juvenile Batten disease (JBD), and ABO-301 (AAV LK19 FANCC) for Fanconi anemia (FA) disorder using a clustered, regularly interspaced short palindromic repeats (CRISPR)/Cas9-based gene editing approach to gene therapy program for rare blood diseases. In addition, it is developing rare plasma protein therapies, including PTB-101 SDF Alpha (alpha-1 protease inhibitor) for inherited chronic obstructive pulmonary disease (COPD) using its salt diafiltration (SDF) ethanol-free process. Its product pipeline also consists of MuGard and ProdiGard..