Abeona Therapeutics Upgrade by StockNews.com

Abeona Therapeutics (NASDAQ:ABEO) has seen a change in its rating as stock analysts from StockNews.com upgraded it from a "sell" rating to a "hold" rating in a recent note issued to investors on Monday.

Abeona Therapeutics has also been the focus of several other research reports. Oppenheimer started following the company on March 5th, giving it an "outperform" rating along with a price target of $16.00. HC Wainwright maintained a "buy" rating and established a target price of $15.00 for the company's shares in a report released on Monday. Currently, among the analysts covering the stock, one has assigned a hold rating, while four analysts rated it as a buy. MarketBeat reports that Abeona has a consensus rating of "Moderate Buy" and an average target price of $17.50.

Abeona Therapeutics Stock Performance

On Monday, shares of ABEO experienced a slight decline, trading down $0.03 to reach $5.12. The trading volume for the day was 455,643 shares, which is higher than the average volume of 402,180 shares. Abeona Therapeutics reported a current ratio of 6.12, a quick ratio of 6.12, and a debt-to-equity ratio of 0.31. Over the past year, the stock has hit a low of $3.05 and a high of $8.45. Its 50-day and 200-day simple moving averages are $5.43 and $5.83, respectively. The company has a market capitalization of $222.57 million and a price-to-earnings ratio of -1.90 with a beta of 1.79.

The company recently announced its earnings results on March 20th, where it reported a loss of ($0.24) earnings per share (EPS) for the quarter, surpassing the analysts' average expectation of ($0.43) by $0.19. Analysts predict that Abeona Therapeutics will report an EPS of -1.16 for the current fiscal year.

Institutional Changes in Abeona Therapeutics

There have been notable changes in institutional trading regarding Abeona Therapeutics. In the fourth quarter, Adage Capital Partners GP L.L.C. increased its stake by 20.1%, acquiring a total of 3,902,360 shares valued at $21,736,000 after adding 652,366 shares. Similarly, Western Standard LLC boosted its holdings by 22.8%, owning 2,084,418 shares worth $11,610,000 after purchasing 386,321 more shares. Jane Street Group LLC significantly raised its position by 894.8%, owning 131,478 shares valued at $732,000 after acquiring an additional 118,262 shares in the same period. Moreover, 683 Capital Management LLC lifted its stake by 17.3%, now owning 791,845 shares worth about $4,411,000, while Wellington Management Group LLP entered a new position valued at approximately $520,000. Notably, institutional and hedge fund investors collectively own about 80.56% of Abeona's shares.

About Abeona Therapeutics

Abeona Therapeutics Inc is a clinical-stage biopharmaceutical firm that focuses on creating and providing gene therapy products designed for severe and life-threatening rare diseases. The company's key programs include EB-101, which targets recessive dystrophic epidermolysis bullosa (RDEB) using gene-corrected skin grafts; ABO-102, which is an AAV-based gene therapy for Sanfilippo syndrome type A; and ABO-101, which involves AAV-based gene therapies for Sanfilippo syndrome type B.

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