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

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

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

Abeona Therapeutics Price Performance

NASDAQ ABEO opened at $6.11 on Tuesday. The company has a 50 day simple moving average of $6.15 and a 200-day simple moving average of $5.20. Abeona Therapeutics has a 52-week low of $3.05 and a 52-week high of $9.01. The firm has a market capitalization of $264.41 million, a price-to-earnings ratio of -2.40 and a beta of 1.52. 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 released its 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). Equities research analysts predict that Abeona Therapeutics will post -1.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ABEO. Acadian Asset Management LLC acquired a new position in Abeona Therapeutics during the first quarter worth $91,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Abeona Therapeutics in the third quarter worth about $151,000. Bank of New York Mellon Corp boosted its stake in shares of Abeona Therapeutics by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 121,453 shares of the biopharmaceutical company’s stock worth $515,000 after acquiring an additional 2,434 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of Abeona Therapeutics by 54.3% during 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 during the last quarter. Finally, Simplify Asset Management Inc. bought a new position in shares of Abeona Therapeutics in the 2nd quarter valued at approximately $1,732,000. Institutional investors own 80.56% of the company’s stock.

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.