Abeona Therapeutics (ABEO) Downgraded to “Strong Sell” at BidaskClub

Abeona Therapeutics (NASDAQ:ABEO) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Friday, BidAskClub reports.

Several other research analysts have also recently issued reports on ABEO. ValuEngine cut Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, February 5th. Zacks Investment Research raised Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, February 6th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Abeona Therapeutics in a research report on Thursday, February 21st. Cantor Fitzgerald set a $29.00 target price on Abeona Therapeutics and gave the company a “buy” rating in a research report on Tuesday, March 19th. Finally, Maxim Group reaffirmed a “buy” rating on shares of Abeona Therapeutics in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $26.43.

Shares of NASDAQ:ABEO opened at $7.45 on Friday. The company has a market cap of $366.26 million, a P/E ratio of -6.26 and a beta of 1.92. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.37 and a current ratio of 3.35. Abeona Therapeutics has a 12-month low of $6.26 and a 12-month high of $21.45.

Abeona Therapeutics (NASDAQ:ABEO) last announced its earnings results on Monday, March 18th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.06. The company had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $1.66 million. Abeona Therapeutics had a negative return on equity of 45.58% and a negative net margin of 960.91%. As a group, research analysts predict that Abeona Therapeutics will post -1.47 earnings per share for the current fiscal year.

In other Abeona Therapeutics news, Director Stefano Buono acquired 70,000 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were acquired at an average price of $7.80 per share, with a total value of $546,000.00. Following the completion of the transaction, the director now owns 20,980 shares in the company, valued at $163,644. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stephen B. Howell acquired 4,000 shares of the business’s stock in a transaction on Monday, April 8th. The stock was acquired at an average cost of $7.77 per share, for a total transaction of $31,080.00. Following the transaction, the director now owns 6,000 shares of the company’s stock, valued at approximately $46,620. The disclosure for this purchase can be found here. 33.60% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Opaleye Management Inc. boosted its position in Abeona Therapeutics by 24.4% in the first quarter. Opaleye Management Inc. now owns 560,000 shares of the biopharmaceutical company’s stock worth $4,122,000 after purchasing an additional 110,000 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its position in Abeona Therapeutics by 2.7% in the first quarter. Schonfeld Strategic Advisors LLC now owns 218,900 shares of the biopharmaceutical company’s stock worth $1,612,000 after purchasing an additional 5,800 shares during the last quarter. Wellington Management Group LLP boosted its position in Abeona Therapeutics by 3.6% in the first quarter. Wellington Management Group LLP now owns 4,216,678 shares of the biopharmaceutical company’s stock worth $31,034,000 after purchasing an additional 145,823 shares during the last quarter. Geode Capital Management LLC boosted its position in Abeona Therapeutics by 11.2% in the first quarter. Geode Capital Management LLC now owns 379,319 shares of the biopharmaceutical company’s stock worth $2,791,000 after purchasing an additional 38,113 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Abeona Therapeutics by 18.2% in the first quarter. The Manufacturers Life Insurance Company now owns 12,589 shares of the biopharmaceutical company’s stock worth $93,000 after purchasing an additional 1,935 shares during the last quarter. 67.53% of the stock is currently owned by institutional investors and hedge funds.

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.

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