Abeona Therapeutics (NASDAQ:ABEO) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Abeona Therapeutics (NASDAQ:ABEO) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

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

Abeona Therapeutics Stock Performance

NASDAQ ABEO opened at $5.89 on Thursday. The firm’s 50 day simple moving average is $6.24 and its 200 day simple moving average is $5.47. The firm has a market capitalization of $256.04 million, a price-to-earnings ratio of -2.19 and a beta of 1.44. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.31. Abeona Therapeutics has a 1 year low of $3.05 and a 1 year high of $9.01.

Institutional Trading of Abeona Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Abeona Therapeutics by 21.7% during the third quarter. Geode Capital Management LLC now owns 465,317 shares of the biopharmaceutical company’s stock worth $2,942,000 after purchasing an additional 83,050 shares during the period. XTX Topco Ltd bought a new position in Abeona Therapeutics during the 3rd quarter worth $160,000. Jane Street Group LLC acquired a new position in Abeona Therapeutics during the 3rd quarter worth about $84,000. Western Standard LLC grew its position in shares of Abeona Therapeutics by 7.0% in the 3rd quarter. Western Standard LLC now owns 1,698,097 shares of the biopharmaceutical company’s stock valued at $10,732,000 after buying an additional 110,998 shares during the last quarter. Finally, Citigroup Inc. increased its stake in shares of Abeona Therapeutics by 10.1% in 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 period. 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.