Abeona Therapeutics (NASDAQ:ABEO) Downgraded to “Sell” at StockNews.com

StockNews.com cut shares of Abeona Therapeutics (NASDAQ:ABEO) from a hold rating to a sell rating in a report published on Tuesday morning.

Abeona Therapeutics Trading Down 53.7 %

ABEO opened at $3.41 on Tuesday. The stock has a market capitalization of $93.26 million, a P/E ratio of -1.32 and a beta of 1.49. Abeona Therapeutics has a 12 month low of $2.83 and a 12 month high of $9.01. The firm’s fifty day simple moving average is $7.49 and its 200 day simple moving average is $5.65.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings results on Monday, March 18th. The biopharmaceutical company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.13). On average, equities research analysts predict that Abeona Therapeutics will post -1.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Abeona Therapeutics

Several hedge funds have recently made changes to their positions in the business. Simplex Trading LLC lifted its position in shares of Abeona Therapeutics by 1,889.9% in the third quarter. Simplex Trading LLC now owns 14,128 shares of the biopharmaceutical company’s stock worth $59,000 after purchasing an additional 13,418 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Abeona Therapeutics during the 4th quarter worth about $199,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Abeona Therapeutics in the third quarter valued at about $648,000. Worth Venture Partners LLC raised its holdings in Abeona Therapeutics by 76.6% during the third quarter. Worth Venture Partners LLC now owns 281,280 shares of the biopharmaceutical company’s stock worth $1,184,000 after acquiring an additional 121,969 shares in the last quarter. Finally, Barclays PLC boosted its position in Abeona Therapeutics by 100.0% during the third quarter. Barclays PLC now owns 371,276 shares of the biopharmaceutical company’s stock valued at $1,564,000 after purchasing an additional 185,638 shares during the last quarter. 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.