Abeona Therapeutics (NASDAQ:ABEO) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Abeona Therapeutics (NASDAQ:ABEO) from a sell rating to a hold rating in a research note released on Monday morning.

Abeona Therapeutics Stock Up 2.2 %

NASDAQ:ABEO opened at $7.93 on Monday. The business’s 50-day moving average price is $7.40 and its two-hundred day moving average price is $5.57. Abeona Therapeutics has a twelve month low of $2.83 and a twelve month high of $9.01. The stock has a market cap of $216.89 million, a P/E ratio of -3.07 and a beta of 1.49.

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

Hedge Funds Weigh In On Abeona Therapeutics

Large investors have recently modified their holdings of the company. Citigroup Inc. purchased a new position in shares of Abeona Therapeutics during the 1st quarter valued at about $27,000. Tower Research Capital LLC TRC purchased a new position in shares of Abeona Therapeutics during the 3rd quarter valued at about $43,000. GSA Capital Partners LLP purchased a new position in shares of Abeona Therapeutics during the 3rd quarter valued at about $49,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Abeona Therapeutics during the 1st quarter valued at about $51,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Abeona Therapeutics during the 2nd quarter valued at about $52,000. 80.56% of the stock is owned by hedge funds and other 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.