Abeona Therapeutics (NASDAQ:ABEO) Lowered to Sell Rating by StockNews.com

Abeona Therapeutics (NASDAQ:ABEO) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

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

Abeona Therapeutics Stock Down 6.9 %

NASDAQ:ABEO opened at $5.55 on Thursday. 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 $241.26 million, a PE ratio of -2.06 and a beta of 1.46. The stock has a 50 day moving average of $5.97 and a 200-day moving average of $5.64. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.31.

Institutional Trading of Abeona Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its stake in shares of Abeona Therapeutics by 581.6% during the second quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company’s stock valued at $2,134,000 after acquiring an additional 429,456 shares during the last quarter. Simplify Asset Management Inc. bought a new position in shares of Abeona Therapeutics during the second quarter valued at $1,732,000. abrdn plc raised its stake in shares of Abeona Therapeutics by 158.8% during the third quarter. abrdn plc now owns 326,995 shares of the biopharmaceutical company’s stock valued at $2,067,000 after acquiring an additional 200,647 shares during the last quarter. Western Standard LLC raised its stake in shares of Abeona Therapeutics by 7.0% during the third quarter. Western Standard LLC now owns 1,698,097 shares of the biopharmaceutical company’s stock valued at $10,732,000 after acquiring an additional 110,998 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Abeona Therapeutics by 21.7% during the third quarter. Geode Capital Management LLC now owns 465,317 shares of the biopharmaceutical company’s stock worth $2,942,000 after buying an additional 83,050 shares during the last quarter. Institutional investors and hedge funds 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.