Abeona Therapeutics (NASDAQ:ABEO) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of Abeona Therapeutics (NASDAQ:ABEO) from a sell rating to a hold rating in a research note issued to investors on Thursday morning, ValuEngine reports.

ABEO has been the topic of several other research reports. Mizuho downgraded Abeona Therapeutics from a buy rating to a neutral rating and decreased their target price for the company from $17.00 to $4.00 in a research report on Friday, July 26th. HC Wainwright set a $23.00 target price on Abeona Therapeutics and gave the company a buy rating in a research report on Tuesday, May 28th. Zacks Investment Research upgraded Abeona Therapeutics from a sell rating to a hold rating in a research report on Tuesday, July 30th. Cantor Fitzgerald restated a buy rating and issued a $29.00 target price on shares of Abeona Therapeutics in a research report on Tuesday, May 14th. Finally, BidaskClub upgraded Abeona Therapeutics from a sell rating to a hold rating in a research report on Monday, June 17th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $22.00.

NASDAQ ABEO opened at $2.42 on Thursday. The firm has a 50 day moving average price of $4.19. Abeona Therapeutics has a 1-year low of $2.42 and a 1-year high of $15.65. The company has a current ratio of 3.35, a quick ratio of 3.35 and a debt-to-equity ratio of 0.06.

Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Friday, May 10th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.08). Abeona Therapeutics had a negative net margin of 960.91% and a negative return on equity of 45.58%. On average, research analysts predict that Abeona Therapeutics will post -1.6 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in shares of Abeona Therapeutics by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 341,206 shares of the biopharmaceutical company’s stock valued at $2,436,000 after buying an additional 6,826 shares during the last quarter. Bank of America Corp DE boosted its position in Abeona Therapeutics by 440.5% in the fourth quarter. Bank of America Corp DE now owns 26,689 shares of the biopharmaceutical company’s stock worth $190,000 after purchasing an additional 21,751 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in Abeona Therapeutics by 247.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,194 shares of the biopharmaceutical company’s stock worth $73,000 after purchasing an additional 7,258 shares during the last quarter. Millennium Management LLC boosted its position in Abeona Therapeutics by 48.6% in the fourth quarter. Millennium Management LLC now owns 1,005,483 shares of the biopharmaceutical company’s stock worth $7,179,000 after purchasing an additional 328,750 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Abeona Therapeutics by 36.1% in the first quarter. Nisa Investment Advisors LLC now owns 37,700 shares of the biopharmaceutical company’s stock worth $277,000 after purchasing an additional 10,000 shares during the last quarter. 63.58% of the stock is owned by hedge funds and other 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.

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