Abeona Therapeutics (NASDAQ:ABEO) Downgraded by StockNews.com to “Sell”

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

Abeona Therapeutics Price Performance

NASDAQ ABEO opened at $3.26 on Tuesday. Abeona Therapeutics has a fifty-two week low of $2.83 and a fifty-two week high of $9.01. The stock has a market capitalization of $89.16 million, a PE ratio of -1.26 and a beta of 1.49. The business has a fifty day moving average price of $7.31 and a two-hundred day moving average price of $5.61.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings results on Monday, March 18th. The biopharmaceutical company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.13). As a group, sell-side analysts expect that Abeona Therapeutics will post -1.83 earnings per share for the current year.

Insiders Place Their Bets

In other Abeona Therapeutics news, SVP Brendan M. O’malley purchased 8,600 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was purchased at an average cost of $3.24 per share, for a total transaction of $27,864.00. Following the acquisition, the senior vice president now owns 188,718 shares in the company, valued at approximately $611,446.32. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Abeona Therapeutics

Several hedge funds have recently modified their holdings of ABEO. Adage Capital Partners GP L.L.C. raised its holdings in shares of Abeona Therapeutics by 84.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 3,249,994 shares of the biopharmaceutical company’s stock worth $13,682,000 after purchasing an additional 1,488,834 shares during the period. AIGH Capital Management LLC grew its stake in Abeona Therapeutics by 77.7% in the 3rd quarter. AIGH Capital Management LLC now owns 1,135,252 shares of the biopharmaceutical company’s stock valued at $4,779,000 after buying an additional 496,278 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Abeona Therapeutics by 125.0% in the third quarter. Citigroup Inc. now owns 450,000 shares of the biopharmaceutical company’s stock worth $1,894,000 after purchasing an additional 250,000 shares during the period. Barclays PLC increased its holdings in shares of Abeona Therapeutics by 100.0% in the third quarter. Barclays PLC now owns 371,276 shares of the biopharmaceutical company’s stock worth $1,564,000 after purchasing an additional 185,638 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Abeona Therapeutics in the third quarter worth $648,000. Institutional investors own 80.56% of the company’s stock.

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.