StockNews.com Upgrades Abeona Therapeutics (NASDAQ:ABEO) to Hold

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

ABEO has been the subject of a number of other research reports. Oppenheimer initiated coverage on Abeona Therapeutics in a research report on Wednesday, March 5th. They issued an “outperform” rating and a $16.00 price target for the company. HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of Abeona Therapeutics in a research report on Monday. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.50.

Abeona Therapeutics Price Performance

Shares of ABEO traded down $0.03 during trading hours on Monday, reaching $5.12. The company had a trading volume of 455,643 shares, compared to its average volume of 402,180. 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 12-month low of $3.05 and a 12-month high of $8.45. The firm has a 50 day simple moving average of $5.43 and a 200-day simple moving average of $5.83. The company has a market capitalization of $222.57 million, a price-to-earnings ratio of -1.90 and a beta of 1.79.

Abeona Therapeutics (NASDAQ:ABEO) last issued its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.19. Research analysts expect that Abeona Therapeutics will post -1.16 earnings per share for the current year.

Institutional Trading of Abeona Therapeutics

Large investors have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. raised its stake in Abeona Therapeutics by 20.1% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,902,360 shares of the biopharmaceutical company’s stock valued at $21,736,000 after purchasing an additional 652,366 shares during the last quarter. Western Standard LLC grew its holdings in shares of Abeona Therapeutics by 22.8% during the fourth quarter. Western Standard LLC now owns 2,084,418 shares of the biopharmaceutical company’s stock worth $11,610,000 after buying an additional 386,321 shares in the last quarter. Jane Street Group LLC raised its position in shares of Abeona Therapeutics by 894.8% in the fourth quarter. Jane Street Group LLC now owns 131,478 shares of the biopharmaceutical company’s stock valued at $732,000 after buying an additional 118,262 shares during the last quarter. 683 Capital Management LLC lifted its stake in shares of Abeona Therapeutics by 17.3% during the fourth quarter. 683 Capital Management LLC now owns 791,845 shares of the biopharmaceutical company’s stock valued at $4,411,000 after buying an additional 116,845 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in Abeona Therapeutics during the fourth quarter worth approximately $520,000. Institutional investors and hedge funds 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.