Abeona Therapeutics (NASDAQ:ABEO) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of Abeona Therapeutics (NASDAQ:ABEO) from a sell rating to a hold rating in a research report released on Tuesday.

Several other equities research analysts have also issued reports on ABEO. HC Wainwright reissued a buy rating and issued a $15.00 price target on shares of Abeona Therapeutics in a report on Friday, July 12th. Stifel Nicolaus started coverage on shares of Abeona Therapeutics in a research note on Thursday, May 30th. They issued a buy rating and a $21.00 target price on the stock. Finally, Cantor Fitzgerald cut their price target on shares of Abeona Therapeutics from $28.00 to $21.00 and set an overweight rating for the company in a research note on Thursday, May 16th.

Abeona Therapeutics Stock Up 1.0 %

Shares of ABEO opened at $5.00 on Tuesday. The stock’s 50-day moving average price is $4.72 and its 200 day moving average price is $5.57. The firm has a market capitalization of $204.82 million, a price-to-earnings ratio of -1.56 and a beta of 1.59. Abeona Therapeutics has a 12-month low of $3.05 and a 12-month high of $9.01.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings data on Wednesday, May 15th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.06). Equities research analysts expect that Abeona Therapeutics will post -1.81 EPS for the current year.

Institutional Investors Weigh In On Abeona Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rosalind Advisors Inc. acquired a new stake in shares of Abeona Therapeutics during the 2nd quarter worth about $7,420,000. Western Standard LLC grew its stake in Abeona Therapeutics by 68.5% during the first quarter. Western Standard LLC now owns 1,361,489 shares of the biopharmaceutical company’s stock worth $9,871,000 after buying an additional 553,377 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Abeona Therapeutics by 581.6% during the second quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company’s stock worth $2,134,000 after buying an additional 429,456 shares in the last quarter. Simplify Asset Management Inc. bought a new position in shares of Abeona Therapeutics in the second quarter valued at approximately $1,732,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Abeona Therapeutics by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 121,453 shares of the biopharmaceutical company’s stock valued at $515,000 after acquiring an additional 2,434 shares during the last quarter. Institutional investors and hedge funds 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.