Abeona Therapeutics (NASDAQ:ABEO) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Abeona Therapeutics (NASDAQ:ABEO) from a hold rating to a sell rating in a report issued on Tuesday morning.

Other equities research analysts have also recently issued reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Abeona Therapeutics in a research report on Thursday, October 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $18.00 price objective on shares of Abeona Therapeutics in a research note on Tuesday, October 29th.

Abeona Therapeutics Price Performance

NASDAQ ABEO opened at $6.11 on Tuesday. Abeona Therapeutics has a 12 month low of $3.05 and a 12 month high of $9.01. The firm has a market capitalization of $264.41 million, a PE ratio of -2.40 and a beta of 1.52. The company’s 50 day simple moving average is $6.15 and its 200 day simple moving average is $5.20. The company has a debt-to-equity ratio of 0.22, a current ratio of 7.48 and a quick ratio of 7.48.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Monday, August 12th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.42). As a group, equities research analysts forecast that Abeona Therapeutics will post -1.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Abeona Therapeutics

Several hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new stake in Abeona Therapeutics during the 1st quarter worth about $91,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Abeona Therapeutics during the third quarter valued at approximately $151,000. Bank of New York Mellon Corp raised its holdings in shares of Abeona Therapeutics by 2.0% during 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 period. GSA Capital Partners LLP lifted its position in shares of Abeona Therapeutics by 54.3% in the 3rd quarter. GSA Capital Partners LLP now owns 96,092 shares of the biopharmaceutical company’s stock valued at $607,000 after acquiring an additional 33,831 shares in the last quarter. Finally, Simplify Asset Management Inc. acquired a new position in Abeona Therapeutics in the 2nd quarter worth approximately $1,732,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

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.