Abeona Therapeutics (NASDAQ:ABEO) Stock Rating Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Abeona Therapeutics from “sell” to “hold.” Overall analyst sentiment is “Moderate Buy,” with five Buy ratings, one Sell rating, and a consensus price target of $21.
• Abeona reported quarterly EPS of -$0.08, beating estimates of -$0.17, while revenue of $13.49 million fell short of the $14.82 million consensus.
• Shares opened at $2.42, near the stock’s 52-week low of $2.09; the company reported a market capitalization of about $138 million.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts also recently issued reports on ABEO. Roth Capital initiated coverage on shares of Abeona Therapeutics in a research note on Thursday, September 17th. They issued a "buy" rating and a $17.00 price target for the company. Cantor Fitzgerald boosted their price target on shares of Abeona Therapeutics from $28.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, September 18th. HC Wainwright reaffirmed a "buy" rating on shares of Abeona Therapeutics in a research report on Friday, September 25th. Weiss Ratings downgraded shares of Abeona Therapeutics from a "sell (d)" rating to a "sell (d-)" rating in a research report on Tuesday. Finally, UBS Group restated a "buy" rating on shares of Abeona Therapeutics in a research note on Friday, September 25th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

Abeona Therapeutics Stock Performance

Shares of ABEO opened at $2.42 on Friday. The stock has a 50-day simple moving average of $4.70 and a 200-day simple moving average of $5.39. The stock has a market capitalization of $138.30 million, a PE ratio of -2.26 and a beta of 1.50. Abeona Therapeutics has a 1 year low of $2.09 and a 1 year high of $7.65.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last announced its quarterly earnings data on Monday, November 9th. The biopharmaceutical company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.09. Abeona Therapeutics had a negative return on equity of 44.82% and a negative net margin of 160.30%. The business had revenue of $13.49 million during the quarter, compared to the consensus estimate of $14.82 million. Analysts predict that Abeona Therapeutics will post -1.00 EPS for the current year.

Insider Activity

In other Abeona Therapeutics news, SVP Brendan M. O'malley sold 6,727 shares of Abeona Therapeutics stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $5.16, for a total value of $34,711.32. Following the transaction, the senior vice president directly owned 421,226 shares in the company, valued at approximately $2,173,526.16. This trade represents a 1.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Joseph Vazzano sold 9,191 shares of the business's stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $5.16, for a total value of $47,425.56. Following the completion of the transaction, the chief financial officer directly owned 482,888 shares in the company, valued at approximately $2,491,702.08. The trade was a 1.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 55,428 shares of company stock worth $296,508 over the last quarter. 7.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Abeona Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of ABEO. Royal Bank of Canada grew its position in Abeona Therapeutics by 49.6% during the first quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 2,155 shares during the period. Rangeley Capital LLC grew its stake in Abeona Therapeutics by 4.2% in the 1st quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company's stock valued at $269,000 after acquiring an additional 2,400 shares during the last quarter. Global Retirement Partners LLC increased its holdings in Abeona Therapeutics by 1,026.2% during the 3rd quarter. Global Retirement Partners LLC now owns 4,978 shares of the biopharmaceutical company's stock valued at $26,000 after acquiring an additional 4,536 shares in the last quarter. Pale Fire Capital SE increased its holdings in Abeona Therapeutics by 17.3% during the 2nd quarter. Pale Fire Capital SE now owns 81,945 shares of the biopharmaceutical company's stock valued at $506,000 after acquiring an additional 12,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in Abeona Therapeutics during the 1st quarter valued at about $154,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

About Abeona Therapeutics

Abeona Therapeutics, Inc. is a biotechnology company focused on developing cell and gene therapies for serious and rare diseases. Its work includes treatments designed to address the underlying genetic causes of disease. The company's lead product, ZEVASKYN (prademagene zamikeracel), is an autologous gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa, a rare inherited skin disorder. Made from a patient's skin cells, the therapy uses genetic modification to help cells produce type VII collagen and is applied to wounds.

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