Abeona Therapeutics (NASDAQ:ABEO) Shares Cross Below 50 Day Moving Average of $7.49

Abeona Therapeutics Inc (NASDAQ:ABEO) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $7.49 and traded as low as $7.26. Abeona Therapeutics shares last traded at $7.36, with a volume of 476,863 shares.

Analyst Ratings Changes

Separately, StockNews.com lowered Abeona Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday.

Abeona Therapeutics Stock Down 2.8 %

The company has a market cap of $201.30 million, a P/E ratio of -2.85 and a beta of 1.49. The stock has a 50 day moving average price of $7.49 and a two-hundred day moving average price of $5.65.

Abeona Therapeutics (NASDAQ:ABEO) last announced its earnings results on Monday, March 18th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.13). Equities analysts anticipate that Abeona Therapeutics Inc will post -1.83 EPS for the current year.

Hedge Funds Weigh In On Abeona Therapeutics

A number of hedge funds have recently added to or reduced their stakes in ABEO. Adage Capital Partners GP L.L.C. increased its stake in Abeona Therapeutics by 84.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 3,249,994 shares of the biopharmaceutical company’s stock worth $13,682,000 after acquiring an additional 1,488,834 shares during the period. AIGH Capital Management LLC increased its stake in Abeona Therapeutics by 77.7% during the 3rd quarter. AIGH Capital Management LLC now owns 1,135,252 shares of the biopharmaceutical company’s stock worth $4,779,000 after acquiring an additional 496,278 shares during the period. Citigroup Inc. increased its stake in Abeona Therapeutics by 125.0% during the 3rd quarter. Citigroup Inc. now owns 450,000 shares of the biopharmaceutical company’s stock worth $1,894,000 after acquiring an additional 250,000 shares during the period. Barclays PLC increased its stake in Abeona Therapeutics by 100.0% during the 3rd quarter. Barclays PLC now owns 371,276 shares of the biopharmaceutical company’s stock worth $1,564,000 after acquiring an additional 185,638 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new position in Abeona Therapeutics during the 3rd quarter worth $648,000. Institutional investors own 80.56% of the company’s stock.

About Abeona Therapeutics

Abeona Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and delivering gene therapy products for severe and life-threatening rare diseases. The company's lead programs are EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB); ABO-102, which are AAV based gene therapies for Sanfilippo syndrome type A; and ABO-101, an adeno-associated virus (AAV) based gene therapies for Sanfilippo syndrome type B.