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 report published on Tuesday.

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

Abeona Therapeutics Price Performance

Shares of NASDAQ:ABEO opened at $5.86 on Tuesday. The business has a 50 day moving average price of $6.17 and a 200 day moving average price of $5.23. Abeona Therapeutics has a twelve month low of $3.05 and a twelve month high of $9.01. The company has a market cap of $253.80 million, a price-to-earnings ratio of -2.31 and a beta of 1.52. The company has a quick ratio of 7.48, a current ratio of 7.48 and a debt-to-equity ratio of 0.22.

Hedge Funds Weigh In On Abeona Therapeutics

A number of hedge funds have recently modified their holdings of ABEO. Jane Street Group LLC acquired a new position in shares of Abeona Therapeutics in the 3rd quarter worth approximately $84,000. Acadian Asset Management LLC acquired a new position in shares of Abeona Therapeutics in the 1st quarter worth approximately $91,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Abeona Therapeutics in the 3rd quarter worth approximately $151,000. XTX Topco Ltd acquired a new position in shares of Abeona Therapeutics in the 3rd quarter worth approximately $160,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Abeona Therapeutics by 2.0% in the 2nd 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. 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.