Abeona Therapeutics (NASDAQ:ABEO) Rating Lowered to Sell at StockNews.com

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

A number of other equities analysts have also commented on the stock. HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of Abeona Therapeutics in a research report on Monday, November 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $18.00 target price on shares of Abeona Therapeutics in a report on Tuesday, October 29th.

Abeona Therapeutics Stock Down 0.7 %

Shares of NASDAQ ABEO traded down $0.04 during mid-day trading on Thursday, reaching $5.96. 176,742 shares of the company traded hands, compared to its average volume of 266,048. The company’s fifty day moving average is $5.97 and its two-hundred day moving average is $5.64. The company has a debt-to-equity ratio of 0.31, a quick ratio of 6.12 and a current ratio of 6.12. Abeona Therapeutics has a fifty-two week low of $3.05 and a fifty-two week high of $9.01. The stock has a market cap of $259.09 million, a PE ratio of -2.22 and a beta of 1.46.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new stake in shares of Abeona Therapeutics in the third quarter valued at approximately $84,000. Charles Schwab Investment Management Inc. acquired a new position in Abeona Therapeutics during the 3rd quarter valued at $151,000. XTX Topco Ltd bought a new stake in Abeona Therapeutics in the 3rd quarter valued at $160,000. JPMorgan Chase & Co. grew its position in Abeona Therapeutics by 74.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 67,138 shares of the biopharmaceutical company’s stock worth $424,000 after purchasing an additional 28,606 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of 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 purchasing an additional 2,434 shares during the period. 80.56% of the stock is 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.