Why Abeona Therapeutics Inc Stock Jumped Higher Today
Shares of Abeona Therapeutics (NASDAQ: ABEO) are up 18% as of 2:50 p.m. EDT after an analyst from RBC Capital initiated coverage of the gene therapy company with an outperform rating and assigned a $23 price target, more than 35% higher than it is right now.
Abeona Therapeutics has been on fire lately, up more than 250% over the last six months, but much of the higher stock price has come from increasing positive investor sentiment off of a fairly low market cap rather than any fundamental change in Abeona's valuation.
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Source: Fool.com