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

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

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

Abeona Therapeutics Price Performance

Shares of NASDAQ:ABEO traded down $0.10 during trading on Thursday, reaching $5.91. The company had a trading volume of 158,268 shares, compared to its average volume of 420,344. The firm’s fifty day moving average is $6.25 and its 200 day moving average is $5.45. The company has a debt-to-equity ratio of 0.31, a quick ratio of 6.12 and a current ratio of 6.12. The firm has a market capitalization of $256.91 million, a PE ratio of -2.20 and a beta of 1.44. Abeona Therapeutics has a twelve month low of $3.05 and a twelve month high of $9.01.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its position in shares of Abeona Therapeutics by 581.6% during the 2nd 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. acquired a new stake in shares of Abeona Therapeutics during the second quarter worth $1,732,000. abrdn plc lifted its holdings 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 purchasing an additional 200,647 shares during the last quarter. Western Standard LLC boosted its position in shares of Abeona Therapeutics by 7.0% in the 3rd quarter. Western Standard LLC now owns 1,698,097 shares of the biopharmaceutical company’s stock valued at $10,732,000 after purchasing an additional 110,998 shares during the period. Finally, Geode Capital Management LLC increased its stake in Abeona Therapeutics by 21.7% in the 3rd quarter. Geode Capital Management LLC now owns 465,317 shares of the biopharmaceutical company’s stock worth $2,942,000 after purchasing an additional 83,050 shares in 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.