Abeona Therapeutics Inc. [ABEO] Is Currently -4.81 below its 200 Period Moving Avg: What Does This Mean?



Abeona Therapeutics Inc. [NASDAQ: ABEO] traded at a low on 05/04/22, posting a -4.81 loss after which it closed the day’ session at $0.20. The company report on May 4, 2022 that Abeona Therapeutics Announces AAV204, a Novel AAV Capsid, Demonstrated Robust Macular Transduction Following Para-Retinal Administration in Non-Human Primates.

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Abeona Therapeutics Inc. (Nasdaq: ABEO), a fully-integrated leader in cell and gene therapy, today announced the presentation of new preclinical data on AAV204 at the Association for Research and Vision in Ophthalmology (ARVO) Annual Meeting, taking place on May 1-4, 2022 in Denver, CO and virtually on May 11-12, 2022. The data was featured in a poster presentation entitled “AAV204, a Novel AAV Capsid, Demonstrates Superior Macular Transduction Following Para-Retinal Administration in Non-Human Primates.”.

AAV204, a novel adeno-associated virus (AAV) capsid from Abeona’s in-licensed AIM™ capsid library, has previously been shown to facilitate transduction of both the inner and outer retina after intravitreal administration in mice and non-human primates. The purpose of the current study was to evaluate in non-human primates transduction levels in the macula and optic nerve following administration of AAV204 directly into the vitreous of the eye by para-retinal administration, a recently-developed method, which unlike subretinal administration does not create a retinal detachment. AAV204.GFP or AAV8.GFP were administered to four non-human primate eyes and green fluorescent protein (GFP) expression was monitored using scanning laser ophthalmoscopy (SLO), followed by immunohistochemistry analysis at 28 days post-injection.

The results of the trading session contributed to over 5841803 shares changing hands. Over the past one week, the price volatility of Abeona Therapeutics Inc. stands at 14.38% while the volatility over the past one month is 11.18%.

The market cap for ABEO stock reached $31.73 million, with 104.99 million shares outstanding and 94.49 million shares in the current float. Compared to the average trading volume of 1.80M shares, ABEO reached a trading volume of 5841803 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Abeona Therapeutics Inc. [ABEO]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ABEO shares is $2.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ABEO stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cantor Fitzgerald have made an estimate for Abeona Therapeutics Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 11, 2020. While these analysts kept the previous recommendation, B. Riley FBR raised their target price to Buy. The new note on the price target was released on September 18, 2020, representing the official price target for Abeona Therapeutics Inc. stock. Previously, the target price had yet another raise to $6, while SVB Leerink analysts kept a Outperform rating on ABEO stock. On December 10, 2019, analysts increased their price target for ABEO shares from 2 to 4.

The Average True Range (ATR) for Abeona Therapeutics Inc. is set at 0.03, with the Price to Sales ratio for ABEO stock in the period of the last 12 months amounting to 10.58. The Price to Book ratio for the last quarter was 0.41, with the Price to Cash per share for the same quarter was set at 0.28.

How has ABEO stock performed recently?

Abeona Therapeutics Inc. [ABEO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.14. With this latest performance, ABEO shares dropped by -39.24% in over the last four-week period, additionally sinking by -78.03% over the last 6 months – not to mention a drop of -87.88% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ABEO stock in for the last two-week period is set at 28.43, with the RSI for the last a single of trading hit 22.00, and the three-weeks RSI is set at 33.57 for Abeona Therapeutics Inc. [ABEO]. The present Moving Average for the last 50 days of trading for this stock 0.2751, while it was recorded at 0.2108 for the last single week of trading, and 0.6687 for the last 200 days.

Abeona Therapeutics Inc. [ABEO]: Deeper insight into the fundamentals

Abeona Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.30 and a Current Ratio set at 3.30.

Insider trade positions for Abeona Therapeutics Inc. [ABEO]

There are presently around $8 million, or 25.60% of ABEO stock, in the hands of institutional investors. The top three institutional holders of ABEO stocks are: ADAGE CAPITAL PARTNERS GP, L.L.C. with ownership of 8,007,272, which is approximately 0% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 3,661,496 shares of the stock with an approximate value of $0.77 million in ABEO stocks shares; and MORGAN STANLEY, currently with $0.71 million in ABEO stock with ownership of nearly 152.925% of the company’s market capitalization.

Positions in Abeona Therapeutics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 25 institutional holders increased their position in Abeona Therapeutics Inc. [NASDAQ:ABEO] by around 16,124,063 shares. Additionally, 31 investors decreased positions by around 6,049,294 shares, while 17 investors held positions by with 16,189,884 shares. The mentioned changes placed institutional holdings at 38,363,241 shares, according to the latest SEC report filing. ABEO stock had 14 new institutional investments in for a total of 8,991,274 shares, while 18 institutional investors sold positions of 1,698,206 shares during the same period.