StockNews.com Upgrades Abeona Therapeutics to Hold

Abeona Therapeutics (NASDAQ:ABEO) has received an upgrade from stock analysts at StockNews.com, who have changed their rating from "sell" to "hold" in a research report released on Monday.

Abeona Therapeutics has been closely followed by various research firms. Notably, Oppenheimer began coverage on the company in a report on March 5, assigning an "outperform" rating along with a price target of $16.00. Additionally, HC Wainwright reiterated their "buy" rating and set a target price of $15.00 for the company. Currently, one analyst has a hold rating for the stock, while four others recommend it as a buy. According to data from MarketBeat, the company has an average consensus rating of "Moderate Buy" with an average target price residing at $17.50.

Abeona Therapeutics Price Performance

On Monday, shares of Abeona Therapeutics traded down by $0.03, closing at $5.12. The trading volume for the day reached 455,643 shares, which is above the average volume of 402,180. The company's current ratio and quick ratio stand at 6.12, alongside a debt-to-equity ratio of 0.31. Over the past year, Abeona's stock has experienced a low of $3.05 and a high of $8.45. The firm also has a 50-day simple moving average of $5.43 and a 200-day simple moving average of $5.83. Abeona Therapeutics has a market capitalization of approximately $222.57 million, a price-to-earnings ratio of -1.90, and a beta of 1.79.

In their latest earnings report, issued on March 20, Abeona Therapeutics reported earnings per share (EPS) of ($0.24), surpassing analysts' expectations of ($0.43) by $0.19. Analysts are currently predicting that the company will report an EPS of -1.16 for the ongoing year.

Institutional Trading of Abeona Therapeutics

Recent changes in ownership from major investors have influenced Abeona Therapeutics' stock. For instance, Adage Capital Partners GP LLC increased its stake in the company by 20.1% during the fourth quarter and now owns 3,902,360 shares valued at approximately $21,736,000 after an additional purchase of 652,366 shares. Similarly, Western Standard LLC raised its holdings by 22.8%, bringing their total to 2,084,418 shares worth around $11,610,000 after buying 386,321 additional shares. Other entities, such as Jane Street Group LLC and 683 Capital Management LLC, have also expanded their stakes. Presently, institutional investors and hedge funds hold about 80.56% of Abeona Therapeutics' stock.

About Abeona Therapeutics

Abeona Therapeutics Inc. is a clinical-stage biopharmaceutical firm dedicated to developing and delivering gene therapy products aimed at treating severe and life-threatening rare diseases. The company’s leading programs include EB-101, focused on gene-corrected skin grafts for recessive dystrophic epidermolysis bullosa (RDEB), and ABO-102 and ABO-101, which are AAV-based gene therapies for different types of Sanfilippo syndrome.

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