Abeona Therapeutics (NASDAQ:ABEO) Rating Lowered to Sell at StockNews.com

StockNews.com cut shares of Abeona Therapeutics (NASDAQ:ABEO) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

Abeona Therapeutics Price Performance

Abeona Therapeutics stock opened at $3.41 on Tuesday. The business has a 50 day moving average of $7.49 and a 200-day moving average of $5.65. The company has a market capitalization of $93.26 million, a P/E ratio of -1.32 and a beta of 1.49. Abeona Therapeutics has a 1 year low of $2.83 and a 1 year high of $9.01.

Abeona Therapeutics (NASDAQ:ABEO) last posted 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 will post -1.83 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. increased its stake in shares of Abeona Therapeutics by 84.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 3,249,994 shares of the biopharmaceutical company’s stock valued at $13,682,000 after buying an additional 1,488,834 shares during the period. AIGH Capital Management LLC boosted its holdings in Abeona Therapeutics by 77.7% in the third quarter. AIGH Capital Management LLC now owns 1,135,252 shares of the biopharmaceutical company’s stock valued at $4,779,000 after acquiring an additional 496,278 shares during the last quarter. Citigroup Inc. increased its position in Abeona Therapeutics by 125.0% during the 3rd quarter. Citigroup Inc. now owns 450,000 shares of the biopharmaceutical company’s stock valued at $1,894,000 after purchasing an additional 250,000 shares during the period. Barclays PLC raised its holdings 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 purchasing an additional 185,638 shares during the last quarter. Finally, Worth Venture Partners LLC lifted its position in shares of Abeona Therapeutics by 76.6% in the 3rd quarter. Worth Venture Partners LLC now owns 281,280 shares of the biopharmaceutical company’s stock worth $1,184,000 after purchasing an additional 121,969 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.

Abeona Therapeutics Company Profile

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.