Abeona Therapeutics (NASDAQ:ABEO) Stock Rating Upgraded by StockNews.com

Abeona Therapeutics (NASDAQ:ABEO) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

ABEO has been the topic of a number of other research reports. Stifel Nicolaus began coverage on Abeona Therapeutics in a research note on Thursday, May 30th. They issued a “buy” rating and a $21.00 price target on the stock. Cantor Fitzgerald dropped their price objective on shares of Abeona Therapeutics from $28.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Abeona Therapeutics in a report on Wednesday, August 14th.

Abeona Therapeutics Price Performance

Shares of ABEO opened at $5.59 on Tuesday. The company has a current ratio of 7.48, a quick ratio of 7.48 and a debt-to-equity ratio of 0.22. The company’s fifty day simple moving average is $5.13 and its 200 day simple moving average is $5.54. Abeona Therapeutics has a 1-year low of $3.05 and a 1-year high of $9.01. The company has a market cap of $242.10 million, a price-to-earnings ratio of -1.75 and a beta of 1.53.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in Abeona Therapeutics by 2.0% during the second quarter. Bank of New York Mellon Corp now owns 121,453 shares of the biopharmaceutical company’s stock worth $515,000 after acquiring an additional 2,434 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Abeona Therapeutics during the 1st quarter worth approximately $91,000. Jump Financial LLC bought a new position in shares of Abeona Therapeutics during the fourth quarter worth approximately $199,000. Simplify Asset Management Inc. acquired a new stake in shares of Abeona Therapeutics in the second quarter valued at approximately $1,732,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Abeona Therapeutics by 581.6% in the second quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company’s stock valued at $2,134,000 after buying an additional 429,456 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.

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.