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

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

Other equities analysts have also recently issued research reports about the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $18.00 target price on shares of Abeona Therapeutics in a report on Tuesday, October 29th. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Abeona Therapeutics in a report on Wednesday.

Abeona Therapeutics Stock Performance

Shares of NASDAQ ABEO opened at $5.78 on Friday. The company has a quick ratio of 6.12, a current ratio of 6.12 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average price is $5.65 and its two-hundred day moving average price is $5.81. Abeona Therapeutics has a 52-week low of $3.05 and a 52-week high of $9.01. The stock has a market capitalization of $251.26 million, a P/E ratio of -2.15 and a beta of 1.43.

Institutional Investors Weigh In On Abeona Therapeutics

A number of hedge funds have recently made changes to their positions in ABEO. abrdn plc raised its holdings in shares of Abeona Therapeutics by 158.8% during the third quarter. abrdn plc now owns 326,995 shares of the biopharmaceutical company’s stock valued at $2,067,000 after buying an additional 200,647 shares during the last quarter. Rosalind Advisors Inc. raised its holdings in shares of Abeona Therapeutics by 4.7% during the third quarter. Rosalind Advisors Inc. now owns 1,832,000 shares of the biopharmaceutical company’s stock valued at $11,578,000 after buying an additional 82,000 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of Abeona Therapeutics by 54.3% during the third quarter. GSA Capital Partners LLP now owns 96,092 shares of the biopharmaceutical company’s stock valued at $607,000 after buying an additional 33,831 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new stake in shares of Abeona Therapeutics during the third quarter valued at approximately $151,000. Finally, Citigroup Inc. raised its holdings in shares of Abeona Therapeutics by 10.1% during the third quarter. Citigroup Inc. now owns 616,668 shares of the biopharmaceutical company’s stock valued at $3,897,000 after buying an additional 56,332 shares during the last quarter. 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.