Abeona Therapeutics (NASDAQ:ABEO) Upgraded by StockNews.com to "Hold"

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a report issued on Monday.

Abeona Therapeutics Price Performance

NASDAQ ABEO traded up $0.09 during mid-day trading on Monday, reaching $7.64. 113,658 shares of the stock were exchanged, compared to its average volume of 321,262. The stock has a market cap of $208.99 million, a P/E ratio of -2.96 and a beta of 1.49. The stock has a 50 day simple moving average of $7.27 and a 200-day simple moving average of $5.53. Abeona Therapeutics has a one year low of $2.77 and a one year high of $9.01.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last announced its quarterly earnings data on Monday, March 18th. The biopharmaceutical company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.13). Sell-side analysts anticipate that Abeona Therapeutics will post -1.83 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Mark Alvino sold 7,084 shares of the business's stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $5.11, for a total transaction of $36,199.24. Following the completion of the sale, the director now owns 62,816 shares in the company, valued at $320,989.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 5.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Abeona Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. lifted its holdings in shares of 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 purchasing an additional 1,488,834 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Abeona Therapeutics by 3.1% during the 2nd quarter. Renaissance Technologies LLC now owns 2,398,166 shares of the biopharmaceutical company's stock worth $499,000 after acquiring an additional 72,350 shares during the last quarter. BlackRock Inc. boosted its holdings in Abeona Therapeutics by 4.7% during the 1st quarter. BlackRock Inc. now owns 1,694,624 shares of the biopharmaceutical company's stock worth $534,000 after acquiring an additional 76,694 shares during the last quarter. Worth Venture Partners LLC grew its stake in shares of Abeona Therapeutics by 9.5% in the 1st quarter. Worth Venture Partners LLC now owns 1,244,774 shares of the biopharmaceutical company's stock worth $392,000 after acquiring an additional 107,500 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Abeona Therapeutics in the fourth quarter valued at about $3,544,000. 80.56% of the stock is owned by 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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