Abeona Therapeutics (NASDAQ:ABEO) Downgraded by Zacks Investment Research

Abeona Therapeutics (NASDAQ:ABEO – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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. “

Separately, StockNews.com initiated coverage on shares of Abeona Therapeutics in a report on Saturday, May 21st. They set a “hold” rating for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Abeona Therapeutics presently has a consensus rating of “Hold” and an average price target of $1.75.

Shares of ABEO stock traded up $0.02 during trading hours on Friday, hitting $0.17. 35,889 shares of the company were exchanged, compared to its average volume of 2,153,411. The firm has a fifty day simple moving average of $0.24 and a 200 day simple moving average of $0.35. Abeona Therapeutics has a 52-week low of $0.13 and a 52-week high of $1.92. The stock has a market capitalization of $24.45 million, a price-to-earnings ratio of -0.20 and a beta of 1.50.

Abeona Therapeutics (NASDAQ:ABEO – Get Rating) last released its quarterly earnings data on Friday, May 13th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04). Research analysts forecast that Abeona Therapeutics will post -0.29 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Citigroup Inc. acquired a new stake in Abeona Therapeutics during the 1st quarter valued at approximately $27,000. GSA Capital Partners LLP acquired a new position in shares of Abeona Therapeutics in the 3rd quarter valued at $37,000. Acadian Asset Management LLC acquired a new position in shares of Abeona Therapeutics in the 4th quarter valued at $78,000. Virtu Financial LLC acquired a new position in Abeona Therapeutics during the fourth quarter worth $84,000. Finally, Citadel Advisors LLC acquired a new position in Abeona Therapeutics during the fourth quarter worth $112,000. 27.81% of the stock is currently owned by institutional investors.

About Abeona Therapeutics (Get Rating)

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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