Abeona Therapeutics (NASDAQ:ABEO) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Abeona Therapeutics (NASDAQ:ABEO) from a sell rating to a hold rating in a report issued on Tuesday.

Several other analysts have also commented on ABEO. HC Wainwright restated a buy rating and set a $15.00 price target on shares of Abeona Therapeutics in a research report on Wednesday, August 14th. Cantor Fitzgerald reduced their price target on Abeona Therapeutics from $28.00 to $21.00 and set an overweight rating for the company in a report on Thursday, May 16th. Finally, Stifel Nicolaus assumed coverage on Abeona Therapeutics in a research note on Thursday, May 30th. They set a buy rating and a $21.00 target price for the company.

Abeona Therapeutics Stock Performance

Shares of ABEO stock opened at $5.58 on Tuesday. The stock has a market cap of $228.57 million, a PE ratio of -1.74 and a beta of 1.53. Abeona Therapeutics has a 52-week low of $3.05 and a 52-week high of $9.01. The business has a 50-day simple moving average of $5.16 and a 200-day simple moving average of $5.54. The company has a quick ratio of 7.48, a current ratio of 7.48 and a debt-to-equity ratio of 0.22.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings data on Monday, August 12th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.42). On average, equities analysts expect that Abeona Therapeutics will post -1.28 EPS for the current year.

Hedge Funds Weigh In On Abeona Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in ABEO. Rosalind Advisors Inc. purchased a new position in Abeona Therapeutics in the 2nd quarter valued at $7,420,000. Western Standard LLC raised its position in shares of Abeona Therapeutics by 68.5% in the first 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. Renaissance Technologies LLC boosted its position in Abeona Therapeutics by 581.6% during the second quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company’s stock worth $2,134,000 after acquiring an additional 429,456 shares during the last quarter. Simplify Asset Management Inc. acquired a new position in Abeona Therapeutics during the second quarter worth about $1,732,000. Finally, Bank of New York Mellon Corp grew 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 valued at $515,000 after acquiring an additional 2,434 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

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.