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

Abeona Therapeutics (NASDAQ:ABEO) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

ABEO has been the subject of several other reports. Cantor Fitzgerald restated an “overweight” rating and set a $18.00 target price on shares of Abeona Therapeutics in a report on Tuesday, October 29th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of Abeona Therapeutics in a report on Thursday, October 31st.

Abeona Therapeutics Price Performance

Shares of ABEO stock traded down $0.32 during trading hours on Tuesday, hitting $6.11. 922,542 shares of the company’s stock were exchanged, compared to its average volume of 433,666. The firm has a market cap of $264.41 million, a P/E ratio of -2.40 and a beta of 1.52. The firm has a 50 day moving average of $6.15 and a two-hundred day moving average of $5.20. Abeona Therapeutics has a fifty-two week low of $3.05 and a fifty-two week high of $9.01. The company has a quick ratio of 7.48, a current ratio of 7.48 and a debt-to-equity ratio of 0.22.

Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Monday, August 12th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.42). Sell-side analysts forecast that Abeona Therapeutics will post -1.28 EPS for the current year.

Institutional Trading of Abeona Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Simplify Asset Management Inc. acquired a new position in Abeona Therapeutics in the 2nd quarter valued at about $1,732,000. Renaissance Technologies LLC boosted its holdings in shares of Abeona Therapeutics by 581.6% during the 2nd 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. abrdn plc grew its position in Abeona Therapeutics by 158.8% in the 3rd quarter. abrdn plc now owns 326,995 shares of the biopharmaceutical company’s stock valued at $2,067,000 after purchasing an additional 200,647 shares during the period. Acadian Asset Management LLC bought a new stake in Abeona Therapeutics during the first quarter worth $91,000. Finally, Rosalind Advisors Inc. grew its holdings in shares of Abeona Therapeutics by 4.7% in the third quarter. Rosalind Advisors Inc. now owns 1,832,000 shares of the biopharmaceutical company’s stock valued at $11,578,000 after acquiring an additional 82,000 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

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.