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 report released on Tuesday morning.

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

Abeona Therapeutics Stock Performance

ABEO opened at $5.95 on Tuesday. Abeona Therapeutics has a 52-week low of $3.05 and a 52-week high of $9.01. The company has a quick ratio of 7.48, a current ratio of 7.48 and a debt-to-equity ratio of 0.22. The company has a market cap of $257.72 million, a P/E ratio of -2.34 and a beta of 1.52. The firm’s 50-day moving average price is $6.17 and its 200-day moving average price is $5.21.

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings data on Monday, August 12th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.42). As a group, equities analysts anticipate that Abeona Therapeutics will post -1.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ABEO. Acadian Asset Management LLC purchased a new position in shares of Abeona Therapeutics during the 1st quarter valued at approximately $91,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Abeona Therapeutics during the 3rd quarter valued at approximately $151,000. Bank of New York Mellon Corp lifted its position 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 valued at $515,000 after buying an additional 2,434 shares in the last quarter. GSA Capital Partners LLP lifted its position 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 buying an additional 33,831 shares in the last quarter. Finally, Simplify Asset Management Inc. purchased a new position in Abeona Therapeutics in the 2nd quarter valued at $1,732,000. Hedge funds and other 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.