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 released on Thursday.

Other equities research analysts have also issued research reports about the company. Cantor Fitzgerald restated an “overweight” rating and set a $18.00 target price on shares of Abeona Therapeutics in a research report on Tuesday, October 29th. HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of Abeona Therapeutics in a report on Monday, November 25th.

Abeona Therapeutics Stock Performance

Shares of ABEO opened at $5.89 on Thursday. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.31. The firm’s fifty day simple moving average is $6.24 and its two-hundred day simple moving average is $5.47. Abeona Therapeutics has a 12 month low of $3.05 and a 12 month high of $9.01. The stock has a market capitalization of $256.04 million, a P/E ratio of -2.19 and a beta of 1.44.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Abeona Therapeutics by 21.7% in the third quarter. Geode Capital Management LLC now owns 465,317 shares of the biopharmaceutical company’s stock valued at $2,942,000 after acquiring an additional 83,050 shares during the period. XTX Topco Ltd bought a new position in shares of Abeona Therapeutics in the 3rd quarter worth $160,000. Jane Street Group LLC bought a new position in shares of Abeona Therapeutics in the 3rd quarter worth $84,000. Western Standard LLC grew its position in Abeona Therapeutics by 7.0% in the 3rd quarter. Western Standard LLC now owns 1,698,097 shares of the biopharmaceutical company’s stock valued at $10,732,000 after purchasing an additional 110,998 shares during the period. Finally, Citigroup Inc. increased its stake in Abeona Therapeutics by 10.1% during the 3rd quarter. Citigroup Inc. now owns 616,668 shares of the biopharmaceutical company’s stock valued at $3,897,000 after purchasing an additional 56,332 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

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.