Abeona Therapeutics (NASDAQ:ABEO) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Abeona Therapeutics (NASDAQ:ABEO) from a hold rating to a sell rating in a research report sent to investors on Saturday.

A number of other analysts have also recently weighed in on the stock. Weiss Ratings cut shares of Abeona Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 24th. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Abeona Therapeutics in a research note on Monday, October 13th. Finally, Oppenheimer upped their target price on Abeona Therapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, August 15th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Abeona Therapeutics Trading Down 1.8%

Shares of ABEO opened at $4.45 on Friday. Abeona Therapeutics has a fifty-two week low of $3.93 and a fifty-two week high of $7.54. The company has a market capitalization of $241.15 million, a PE ratio of 6.36 and a beta of 1.45. The stock has a fifty day moving average of $5.34 and a two-hundred day moving average of $5.98. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.65 and a current ratio of 6.73.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Wednesday, November 12th. The biopharmaceutical company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.17. As a group, analysts forecast that Abeona Therapeutics will post -1.16 EPS for the current year.

Insider Activity at Abeona Therapeutics

In other news, CFO Joseph Walter Vazzano sold 9,035 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $5.39, for a total transaction of $48,698.65. Following the transaction, the chief financial officer owned 453,631 shares of the company’s stock, valued at approximately $2,445,071.09. This trade represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vishwas Seshadri sold 25,000 shares of Abeona Therapeutics stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $5.24, for a total value of $131,000.00. Following the completion of the transaction, the chief executive officer owned 1,190,067 shares of the company’s stock, valued at $6,235,951.08. This trade represents a 2.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 78,612 shares of company stock worth $410,271 in the last ninety days. 6.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Abeona Therapeutics

Several large investors have recently added to or reduced their stakes in ABEO. Boone Capital Management LLC bought a new stake in Abeona Therapeutics during the second quarter valued at $7,126,000. Geode Capital Management LLC boosted its holdings in shares of Abeona Therapeutics by 129.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock valued at $6,282,000 after buying an additional 623,243 shares during the period. Cable Car Capital LP acquired a new position in shares of Abeona Therapeutics in the 3rd quarter valued at about $3,168,000. JPMorgan Chase & Co. grew its position in shares of Abeona Therapeutics by 255.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 831,132 shares of the biopharmaceutical company’s stock valued at $4,721,000 after buying an additional 597,373 shares during the last quarter. Finally, Nan Fung Trinity HK Ltd. acquired a new stake in Abeona Therapeutics during the second quarter worth about $3,185,000. 80.56% of the stock is currently owned by 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.