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

StockNews.com lowered shares of Abeona Therapeutics (NASDAQ:ABEO) from a hold rating to a sell rating in a report released on Tuesday.

Abeona Therapeutics Stock Performance

ABEO stock opened at $3.26 on Tuesday. Abeona Therapeutics has a one year low of $2.83 and a one year high of $9.01. The firm has a 50-day simple moving average of $7.31 and a two-hundred day simple moving average of $5.61. The firm has a market cap of $89.16 million, a price-to-earnings ratio of -1.26 and a beta of 1.49.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Monday, March 18th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.13). As a group, equities analysts predict that Abeona Therapeutics will post -1.83 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Brendan M. O’malley acquired 8,600 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were bought at an average price 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 of the company’s stock, valued at approximately $611,446.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new stake in shares of Abeona Therapeutics during the 4th quarter worth about $199,000. Worth Venture Partners LLC lifted its stake in Abeona Therapeutics by 76.6% in the third quarter. Worth Venture Partners LLC now owns 281,280 shares of the biopharmaceutical company’s stock valued at $1,184,000 after buying an additional 121,969 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Abeona Therapeutics by 84.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 3,249,994 shares of the biopharmaceutical company’s stock valued at $13,682,000 after buying an additional 1,488,834 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Abeona Therapeutics in the third quarter valued at approximately $648,000. Finally, AIGH Capital Management LLC increased its holdings in shares of Abeona Therapeutics by 77.7% in the third quarter. AIGH Capital Management LLC now owns 1,135,252 shares of the biopharmaceutical company’s stock valued at $4,779,000 after purchasing an additional 496,278 shares during the period. Hedge funds and other 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.