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

Abeona Therapeutics (NASDAQ:ABEO) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

Other equities research analysts also recently issued research reports about the company. Oppenheimer started coverage on Abeona Therapeutics in a research report on Wednesday, March 5th. They issued an “outperform” rating and a $16.00 target price for the company. HC Wainwright boosted their price target on Abeona Therapeutics from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.50.

Abeona Therapeutics Price Performance

Abeona Therapeutics stock opened at $6.10 on Thursday. The firm has a fifty day moving average of $5.18 and a 200-day moving average of $5.56. Abeona Therapeutics has a 52-week low of $3.93 and a 52-week high of $7.32. The company has a quick ratio of 6.12, a current ratio of 6.12 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $297.68 million, a P/E ratio of -2.27 and a beta of 1.68.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings results on Thursday, May 15th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.11. As a group, analysts predict that Abeona Therapeutics will post -1.16 EPS for the current year.

Insiders Place Their Bets

In other Abeona Therapeutics news, CEO Vishwas Seshadri sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $4.78, for a total value of $119,500.00. Following the transaction, the chief executive officer now directly owns 1,355,322 shares of the company’s stock, valued at $6,478,439.16. This represents a 1.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark Alvino sold 8,000 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $5.68, for a total value of $45,440.00. Following the transaction, the director now owns 92,435 shares of the company’s stock, valued at approximately $525,030.80. This trade represents a 7.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased 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 purchasing an additional 28,606 shares during the last quarter. Wellington Management Group LLP acquired a new position in Abeona Therapeutics in the fourth quarter worth about $520,000. Trexquant Investment LP bought a new stake in Abeona Therapeutics in the fourth quarter valued at about $382,000. Adage Capital Partners GP L.L.C. increased its holdings in Abeona Therapeutics by 20.1% in the fourth 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 buying an additional 652,366 shares during the last quarter. Finally, Oxford Asset Management LLP acquired a new stake in Abeona Therapeutics during the fourth quarter valued at approximately $118,000. 80.56% of the stock is currently owned by institutional investors.

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.