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

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

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

Abeona Therapeutics Stock Down 0.7 %

Shares of NASDAQ:ABEO opened at $5.96 on Thursday. The company has a market capitalization of $259.09 million, a price-to-earnings ratio of -2.22 and a beta of 1.46. The company has a 50 day moving average of $5.97 and a two-hundred day moving average of $5.64. Abeona Therapeutics has a 52-week low of $3.05 and a 52-week high of $9.01. The company has a quick ratio of 6.12, a current ratio of 6.12 and a debt-to-equity ratio of 0.31.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in shares of Abeona Therapeutics by 2.0% in 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 last quarter. Jane Street Group LLC bought a new stake in Abeona Therapeutics in the third quarter valued at about $84,000. Charles Schwab Investment Management Inc. acquired a new stake in Abeona Therapeutics during the third quarter valued at approximately $151,000. XTX Topco Ltd bought a new position in Abeona Therapeutics during the 3rd quarter worth approximately $160,000. Finally, JPMorgan Chase & Co. grew its position in shares of 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 acquiring an additional 28,606 shares in the last quarter. 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.