Abeona Therapeutics (NASDAQ:ABEO) Downgraded by StockNews.com

StockNews.com cut shares of Abeona Therapeutics (NASDAQ:ABEO) from a hold rating to a sell rating in a research note released on Monday morning.

Several other research analysts also recently weighed in on the stock. Stifel Nicolaus initiated coverage on shares of Abeona Therapeutics in a research note on Thursday, May 30th. They issued a buy rating and a $21.00 target price for the company. HC Wainwright reissued a buy rating and set a $15.00 price target on shares of Abeona Therapeutics in a research note on Wednesday, August 14th. Finally, Cantor Fitzgerald dropped their target price on Abeona Therapeutics from $28.00 to $21.00 and set an overweight rating for the company in a research note on Thursday, May 16th.

Abeona Therapeutics Price Performance

Shares of NASDAQ:ABEO opened at $5.57 on Monday. The business’s fifty day moving average price is $5.00 and its two-hundred day moving average price is $5.58. The stock has a market cap of $228.16 million, a PE ratio of -1.74 and a beta of 1.59. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.48 and a current ratio of 7.48. Abeona Therapeutics has a one year low of $3.05 and a one year high of $9.01.

Institutional Investors Weigh In On Abeona Therapeutics

Institutional investors have recently bought and sold shares of the business. Simplify Asset Management Inc. purchased a new stake in shares of Abeona Therapeutics in the second quarter worth about $1,732,000. Renaissance Technologies LLC grew its holdings in 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 purchasing an additional 429,456 shares in the last quarter. Bank of New York Mellon Corp increased its stake in 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 worth $515,000 after buying an additional 2,434 shares during the period. Rosalind Advisors Inc. acquired a new position in Abeona Therapeutics in the 2nd quarter worth $7,420,000. Finally, Western Standard LLC boosted its position in Abeona Therapeutics by 68.5% in 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. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

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.