Abeona Therapeutics (NASDAQ:ABEO) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a report released on Friday, Zacks.com reports.
According to Zacks, "Abeona Therapeutics, Inc. is engaged in developing and delivering gene therapy and plasma-based products for rare diseases. Abeona Therapeutics Inc., formerly known as PlasmaTech Biopharmaceuticals, Inc., is based in Dallas, United States. "
Several other brokerages also recently weighed in on ABEO. Cantor Fitzgerald raised Abeona Therapeutics from a "neutral" rating to an "overweight" rating and set a $4.00 target price for the company in a research report on Tuesday, November 10th. B. Riley reaffirmed a "buy" rating and issued a $3.00 target price (up previously from $2.00) on shares of Abeona Therapeutics in a research report on Wednesday, November 11th. HC Wainwright reaffirmed a "buy" rating and issued a $8.00 target price on shares of Abeona Therapeutics in a research report on Tuesday. Finally, SVB Leerink reaffirmed an "outperform" rating on shares of Abeona Therapeutics in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of "Buy" and an average price target of $4.71.
Shares of NASDAQ ABEO traded down $0.12 on Friday, hitting $2.34. The company had a trading volume of 91,792 shares, compared to its average volume of 5,005,079. Abeona Therapeutics has a 12-month low of $0.99 and a 12-month high of $4.34. The business has a 50 day moving average of $2.19 and a two-hundred day moving average of $1.84. The firm has a market capitalization of $230.56 million, a P/E ratio of -2.24 and a beta of 1.69.
In other news, Director Sco Capital Partners Llc sold 240,000 shares of the stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $3.01, for a total transaction of $722,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul Elliot Mann sold 17,079 shares of the stock in a transaction that occurred on Friday, December 18th. The stock was sold at an average price of $1.59, for a total value of $27,155.61. Following the completion of the transaction, the director now directly owns 772,907 shares of the company's stock, valued at $1,228,922.13. The disclosure for this sale can be found here. Insiders have sold a total of 547,641 shares of company stock worth $1,317,933 over the last quarter. Insiders own 19.10% of the company's stock.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Abeona Therapeutics by 5.0% in the 4th quarter. BlackRock Inc. now owns 4,090,830 shares of the biopharmaceutical company's stock worth $6,423,000 after buying an additional 193,963 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Abeona Therapeutics by 633.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,322,903 shares of the biopharmaceutical company's stock worth $2,077,000 after buying an additional 1,142,652 shares in the last quarter. State Street Corp grew its holdings in Abeona Therapeutics by 2.5% in the 3rd quarter. State Street Corp now owns 992,946 shares of the biopharmaceutical company's stock worth $1,013,000 after buying an additional 24,188 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Abeona Therapeutics by 25.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 435,454 shares of the biopharmaceutical company's stock worth $483,000 after buying an additional 88,424 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in Abeona Therapeutics by 34.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 330,644 shares of the biopharmaceutical company's stock worth $519,000 after buying an additional 83,907 shares in the last quarter. 36.47% of the stock is owned by institutional investors and hedge funds.
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.
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