Abeona Therapeutics (NASDAQ:ABEO) Raised to “Hold” at StockNews.com

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

Other analysts also recently issued research reports about the company. Stifel Nicolaus assumed coverage on Abeona Therapeutics in a report on Thursday, May 30th. They issued a buy rating and a $21.00 price target on the stock. Cantor Fitzgerald reduced their price target on shares of Abeona Therapeutics from $28.00 to $21.00 and set an overweight rating for the company in a report on Thursday, May 16th. Finally, HC Wainwright reaffirmed a buy rating and issued a $15.00 price objective on shares of Abeona Therapeutics in a report on Friday, July 12th.

Abeona Therapeutics Stock Performance

Abeona Therapeutics stock opened at $5.00 on Tuesday. Abeona Therapeutics has a 1 year low of $3.05 and a 1 year high of $9.01. The firm’s 50-day moving average is $4.72 and its 200-day moving average is $5.57. The company has a market cap of $204.82 million, a P/E ratio of -1.56 and a beta of 1.59.

Abeona Therapeutics (NASDAQ:ABEO) last issued its earnings results 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). As a group, sell-side analysts predict that Abeona Therapeutics will post -1.81 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Rosalind Advisors Inc. bought a new stake in shares of Abeona Therapeutics during the second quarter valued at about $7,420,000. Western Standard LLC increased its stake in Abeona Therapeutics by 68.5% during the 1st quarter. Western Standard LLC now owns 1,361,489 shares of the biopharmaceutical company’s stock valued at $9,871,000 after buying an additional 553,377 shares during the period. Renaissance Technologies LLC raised its position 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. Simplify Asset Management Inc. acquired a new stake in shares of Abeona Therapeutics in the 2nd quarter worth approximately $1,732,000. Finally, Bank of New York Mellon Corp increased its stake 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. 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.