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

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

ABEO has been the subject of a number of other research reports. HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Abeona Therapeutics in a research report on Monday, November 25th. Cantor Fitzgerald restated an “overweight” rating and set a $18.00 price objective on shares of Abeona Therapeutics in a research report on Tuesday, October 29th.

Abeona Therapeutics Trading Down 6.9 %

NASDAQ:ABEO opened at $5.55 on Thursday. Abeona Therapeutics has a 12-month low of $3.05 and a 12-month high of $9.01. The firm has a market capitalization of $241.26 million, a P/E ratio of -2.06 and a beta of 1.46. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.12 and a quick ratio of 6.12. The business has a 50 day simple moving average of $5.95 and a 200 day simple moving average of $5.66.

Institutional Trading of Abeona Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its stake in 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 valued at $515,000 after acquiring an additional 2,434 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Abeona Therapeutics in the 3rd quarter worth $84,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Abeona Therapeutics in the 3rd quarter worth $151,000. XTX Topco Ltd bought a new stake in shares of Abeona Therapeutics in the 3rd quarter worth $160,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Abeona Therapeutics by 74.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 67,138 shares of the biopharmaceutical company’s stock worth $424,000 after buying an additional 28,606 shares in the last quarter. 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.