Abeona Therapeutics (NASDAQ:ABEO) Rating Lowered to “Sell (D+)” at Weiss Ratings

Abeona Therapeutics (NASDAQ:ABEO) was downgraded by stock analysts at Weiss Ratings from a “hold (c-)” rating to a “sell (d+)” rating in a report issued on Friday,Weiss Ratings reports.

A number of other equities research analysts also recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a research report on Monday, October 13th. Oppenheimer boosted their target price on Abeona Therapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, August 15th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $19.50.

Abeona Therapeutics Price Performance

Shares of NASDAQ ABEO opened at $5.48 on Friday. Abeona Therapeutics has a twelve month low of $3.93 and a twelve month high of $7.54. The stock’s 50 day moving average price is $6.02 and its 200-day moving average price is $5.99. The company has a market capitalization of $281.01 million, a PE ratio of 7.83 and a beta of 1.42. The company has a quick ratio of 6.65, a current ratio of 6.73 and a debt-to-equity ratio of 0.09.

Abeona Therapeutics (NASDAQ:ABEO) last announced its earnings results on Thursday, August 14th. The biopharmaceutical company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $2.10. The business had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $21.71 million. On average, equities analysts anticipate that Abeona Therapeutics will post -1.16 EPS for the current year.

Insider Activity at Abeona Therapeutics

In related news, CEO Vishwas Seshadri sold 25,000 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $5.24, for a total value of $131,000.00. Following the transaction, the chief executive officer owned 1,190,067 shares of the company’s stock, valued at $6,235,951.08. This represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brendan M. O’malley sold 9,366 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $5.39, for a total value of $50,482.74. Following the completion of the transaction, the senior vice president directly owned 350,763 shares in the company, valued at approximately $1,890,612.57. This represents a 2.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,612 shares of company stock valued at $339,171 over the last 90 days. 6.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Simplify Asset Management Inc. increased its stake in Abeona Therapeutics by 1.2% in the third quarter. Simplify Asset Management Inc. now owns 565,009 shares of the biopharmaceutical company’s stock valued at $2,983,000 after acquiring an additional 6,425 shares during the last quarter. Corient Private Wealth LLC purchased a new stake in Abeona Therapeutics during the second quarter valued at about $127,000. Squarepoint Ops LLC boosted its position in Abeona Therapeutics by 274.2% during the second quarter. Squarepoint Ops LLC now owns 141,978 shares of the biopharmaceutical company’s stock valued at $806,000 after buying an additional 104,037 shares during the period. Man Group plc purchased a new stake in Abeona Therapeutics during the second quarter valued at about $67,000. Finally, BNP Paribas Financial Markets purchased a new stake in Abeona Therapeutics during the second quarter valued at about $749,000. 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.