StockNews.com Upgrades Abeona Therapeutics (NASDAQ:ABEO) to Hold

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

A number of other analysts have also issued reports on ABEO. Stifel Nicolaus started coverage on shares of Abeona Therapeutics in a research report on Thursday, May 30th. They issued a buy rating and a $21.00 price target for the company. 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 research report on Thursday, May 16th. Finally, HC Wainwright reissued a buy rating and issued a $15.00 price target on shares of Abeona Therapeutics in a research report on Wednesday, August 14th.

Abeona Therapeutics Price Performance

ABEO stock opened at $5.58 on Tuesday. The company has a current ratio of 7.48, a quick ratio of 7.48 and a debt-to-equity ratio of 0.22. Abeona Therapeutics has a one year low of $3.05 and a one year high of $9.01. The firm has a market capitalization of $241.67 million, a PE ratio of -1.74 and a beta of 1.53. The firm has a 50-day moving average of $5.18 and a two-hundred day moving average of $5.52.

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings results on Monday, August 12th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.42). On average, analysts forecast that Abeona Therapeutics will post -1.28 earnings per share for the current year.

Hedge Funds Weigh In On Abeona Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABEO. Acadian Asset Management LLC bought a new position in Abeona Therapeutics during the first quarter valued at approximately $91,000. Jump Financial LLC acquired a new position in Abeona Therapeutics during the fourth quarter valued at approximately $199,000. Bank of New York Mellon Corp grew its holdings in 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 purchasing an additional 2,434 shares during the last quarter. Simplify Asset Management Inc. acquired a new position in Abeona Therapeutics during the second quarter valued at approximately $1,732,000. Finally, Renaissance Technologies LLC grew its holdings in Abeona Therapeutics by 581.6% during the second quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company’s stock valued at $2,134,000 after purchasing an additional 429,456 shares during the last quarter. 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.