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

StockNews.com downgraded shares of Abeona Therapeutics (NASDAQ:ABEO) from a hold rating to a sell rating in a research report sent to investors on Monday morning.

A number of other research firms also recently commented on ABEO. HC Wainwright reiterated a buy rating and issued a $15.00 price target on shares of Abeona Therapeutics in a research note on Wednesday, August 14th. Cantor Fitzgerald lowered 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 started coverage on shares of Abeona Therapeutics in a report on Thursday, May 30th. They issued a buy rating and a $21.00 price objective for the company.

Abeona Therapeutics Trading Up 2.0 %

ABEO opened at $5.57 on Monday. Abeona Therapeutics has a 12-month low of $3.05 and a 12-month high of $9.01. The company has a debt-to-equity ratio of 0.22, a current ratio of 7.48 and a quick ratio of 7.48. The stock has a market capitalization of $228.16 million, a PE ratio of -1.74 and a beta of 1.59. The firm’s fifty day moving average price is $5.00 and its 200 day moving average price is $5.58.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ABEO. Bank of New York Mellon Corp increased its stake in shares of Abeona Therapeutics by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 121,453 shares of the biopharmaceutical company’s stock valued at $515,000 after purchasing an additional 2,434 shares during the period. Acadian Asset Management LLC acquired a new position in Abeona Therapeutics during the 1st quarter worth $91,000. Jump Financial LLC bought a new position in shares of Abeona Therapeutics in the fourth quarter worth $199,000. Simplify Asset Management Inc. acquired a new position in shares of Abeona Therapeutics during the second quarter valued at $1,732,000. Finally, Renaissance Technologies LLC raised its stake in shares of Abeona Therapeutics by 581.6% during the second 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. 80.56% of the stock is currently owned by 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.