An Important Test for Abeona Therapeutics Inc. (ABEO)

The stock of Abeona Therapeutics Inc. (NASDAQ:ABEO) has been Downgraded to Neutral from Overweight by Cantor Fitzgerald in its latest research note that was published on August 12. ABEO was given a price target of $2 by Cantor Fitzgerald, with other Wall Street analysts also giving their reports regarding the stock. Mizuho analysts have downgraded their rating of ABEO stock from Buy to Neutral in a separate flash note to investors on July 26

Abeona’s stock is covered by 9 analysts, with 2 of them rating the stock as Buy. It has been deemed to have strong buy by 4 of the analysts, 3 of them have rated it as a Hold while none of them rated it as sell. The situation was different a month ago when the stock was rated as a Buy by only 2 analysts. 6 of them rated it as strong buy with 1 of them recommended investors to Hold on to the stock. Meanwhile, none analyst(s) rated it as a sell. The above data shows that ABEO has an average analyst rating of 2.11.

Abeona Therapeutics Inc., which has current market capitalization of above $117 Million, published its last quarter earnings on March 31, 2019. During the first quarter of the year, Abeona also recorded $-0.49 earnings per share (EPS) which is $0.14 above the $-0.35 estimated by Thomson Reuter’s analyst, leading to a surprise factor of -40.16%.

ABEO surged by $0.17 during the normal trading session on Tuesday and reaching a high of $2.45 during the day while it closed the day at $2.39. The Abeona stock had a low trading volume of 0.79 million shares on that day, which is low compared to the average daily volume of 692.99M shares. ABEO has also lost 1.24% of its value over the past 7 days. However, the stock has declined by 67.22% in the 3 months of the year. Over the past six months meanwhile, it has lost 64.22% while it has lost 66.53% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -68.74% from its 3 months high price. However, taking another look at ABEO will indicate that it is trading +12.78% away from its 90-day low. Looking at the bigger picture, the Abeona Therapeutics Inc. stock has dropped by -84.73% from its 52-week high while it has surged by +12.78% from its 52-week low price.

On April 11, 2019 Buono Stefano, Director bought 70000 shares of the company. The average price for that transaction was $7.8 per share, which meant that Buono Stefano spent $546000 purchasing the stocks. The purchase was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with Director, Howell Stephen B. purchasing 4000 shares of this stock on April 08, 2019. The average purchasing price for the stock was $7.77 per share, with the purchased stock accruing $31080. Following this transaction, the Director Howell Stephen B. now holds 6000 shares of the company, which is worth around $13680.

Abeona has around 43 Billion cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $26 Billion. The Abeona stock is bringing in revenue of over 12 months, which is roughly 44 Billion. Despite all that, Abeona Therapeutics Inc. is seeing things progressing very much as their y-o-y quarterly revenue surged by 0.84%.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 7.65%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 14.1%. Over the past 20 days, Abeona’s Stochastic %K stood at 7.84% while its Stochastic %D was revealed to be 4.96%.