StockNews.com Upgrades Abeona Therapeutics to Hold

Abeona Therapeutics (NASDAQ:ABEO) received a rating upgrade from StockNews.com, moving from a previous "sell" rating to a "hold" rating. This update was shared with investors in a research report on Monday.

Additionally, Abeona Therapeutics has been analyzed by various other financial institutions. On March 5th, Oppenheimer initiated coverage of the company with an "outperform" rating and set a price target of $16.00. Meanwhile, HC Wainwright maintained a "buy" rating and established a target price of $15.00 for the stock.

Currently, one analyst has given the stock a hold rating, while four have issued buy ratings. According to MarketBeat, the consensus rating for Abeona Therapeutics stands at "Moderate Buy," with an average target price of $17.50.

Abeona Therapeutics Price Performance

On Monday, shares of ABEO dipped by $0.03, landing at a price of $5.12 per share. The trading volume for the day was 455,643 shares, surpassing the usual volume of 402,180. Financial metrics for the company indicate 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, Abeona Therapeutics has seen a low of $3.05 and a high of $8.45. Currently, the firm’s 50-day simple moving average is $5.43, while the 200-day simple moving average is $5.83. With a market capitalization of $222.57 million and a price-to-earnings ratio of -1.90, the company has a beta of 1.79.

Abeona Therapeutics reported its last earnings results on March 20th, revealing earnings of ($0.24) per share (EPS) for the quarter. This figure outperformed analysts' expectations, who had forecasted EPS of ($0.43). Forecasts suggest that Abeona Therapeutics will record -1.16 EPS for the current year.

Institutional Trading of Abeona Therapeutics

Recently, several large investors have adjusted their holdings in Abeona Therapeutics. For instance, Adage Capital Partners GP L.L.C. increased its stake by 20.1% in the fourth quarter, now owning 3,902,360 shares valued at approximately $21,736,000 following the acquisition of an additional 652,366 shares. Similarly, Western Standard LLC boosted its position by 22.8%, now owning 2,084,418 shares worth about $11,610,000 after purchasing another 386,321 shares.

Jane Street Group LLC also made a significant adjustment, raising its position by 894.8%, bringing their total to 131,478 shares, valued at $732,000 after acquiring an additional 118,262 shares. Additionally, 683 Capital Management LLC increased its stake by 17.3%, now holding 791,845 shares worth around $4,411,000 after buying 116,845 more shares during the period. Notably, Wellington Management Group LLP entered the scene by acquiring a new stake in Abeona Therapeutics worth approximately $520,000. Collectively, institutional investors and hedge funds hold 80.56% of the company's shares.

About Abeona Therapeutics

Abeona Therapeutics Inc. is a clinical-stage biopharmaceutical company focused on developing gene therapy products that target severe and life-threatening rare diseases. The company's key programs include 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 AAV-based gene therapy for Sanfilippo syndrome type B.

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