Abeona Therapeutics (NASDAQ:ABEO) Upgraded at StockNews.com

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

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

Abeona Therapeutics Price Performance

Shares of Abeona Therapeutics stock opened at $5.98 on Wednesday. The business’s fifty day moving average price is $6.19 and its 200 day moving average price is $5.27. Abeona Therapeutics has a twelve month low of $3.05 and a twelve month high of $9.01. 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 stock has a market capitalization of $259.96 million, a P/E ratio of -2.22 and a beta of 1.52.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in shares of Abeona Therapeutics in the first quarter worth about $91,000. Western Standard LLC boosted its stake in shares of Abeona Therapeutics by 68.5% during the 1st quarter. Western Standard LLC now owns 1,361,489 shares of the biopharmaceutical company’s stock valued at $9,871,000 after buying an additional 553,377 shares during the last quarter. Rosalind Advisors Inc. purchased a new position in shares of Abeona Therapeutics during the 2nd quarter valued at approximately $7,420,000. Bank of New York Mellon Corp grew its position in shares of 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 worth $515,000 after buying an additional 2,434 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Abeona Therapeutics by 581.6% in the second quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company’s stock worth $2,134,000 after buying an additional 429,456 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

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.