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Abeona Therapeutics (ABEO) Surges: Stock Moves 7.2% Higher

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Abeona Therapeutics Inc. (ABEO - Free Report) was a big mover last session, as the company saw its shares rise more than 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company—as the stock is now up 4.1% in the past one-month time frame.

The move came after the company announced that it has priced an underwritten public offering of five million shares of common stock at a public offering at $16 per share, which is expected to generate gross proceeds of roughly $80 million.

The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Abeona Therapeutics currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.

Investors interested in the Medical - Biomedical and Genetics industry may consider Axovant Sciences Ltd. (AXON - Free Report) , which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is ABEO going up? Or down? Predict to see what others think:Up or Down

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