Abeona Therapeutics Inc. (NASDAQ:ABEO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Abeona Therapeutics, Inc. is engaged in developing and delivering gene therapy and plasma-based products for rare diseases. Abeona Therapeutics Inc., formerly known as PlasmaTech Biopharmaceuticals, Inc., is based in Dallas, United States. “

Other equities research analysts have also issued research reports about the company. BidaskClub raised Abeona Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC reissued a “buy” rating and issued a $22.00 target price on shares of Abeona Therapeutics in a research note on Thursday, June 22nd. Cantor Fitzgerald reissued a “buy” rating and issued a $21.00 target price on shares of Abeona Therapeutics in a research note on Tuesday, June 6th. FBR & Co reissued a “buy” rating on shares of Abeona Therapeutics in a research note on Friday, May 26th. Finally, Maxim Group set a $14.00 target price on Abeona Therapeutics and gave the company a “buy” rating in a research note on Thursday, May 25th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $17.86.

Shares of Abeona Therapeutics (NASDAQ ABEO) traded up 4.94% during midday trading on Wednesday, hitting $8.50. The stock had a trading volume of 683,251 shares. Abeona Therapeutics has a 1-year low of $3.90 and a 1-year high of $10.26. The stock’s market cap is $342.17 million. The firm’s 50-day moving average price is $8.24 and its 200-day moving average price is $6.03.

Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Tuesday, August 15th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.07. Abeona Therapeutics had a negative net margin of 2,568.57% and a negative return on equity of 26.99%. The company had revenue of $0.22 million during the quarter, compared to the consensus estimate of $0.21 million. Analysts forecast that Abeona Therapeutics will post ($0.57) earnings per share for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of ABEO. State Street Corp purchased a new position in Abeona Therapeutics during the second quarter worth $1,900,000. Northern Trust Corp increased its position in Abeona Therapeutics by 406.3% in the second quarter. Northern Trust Corp now owns 257,668 shares of the biopharmaceutical company’s stock worth $1,649,000 after buying an additional 206,775 shares during the period. Highbridge Capital Management LLC increased its position in Abeona Therapeutics by 23.5% in the first quarter. Highbridge Capital Management LLC now owns 681,611 shares of the biopharmaceutical company’s stock worth $3,408,000 after buying an additional 129,811 shares during the period. Vanguard Group Inc. increased its position in Abeona Therapeutics by 11.2% in the second quarter. Vanguard Group Inc. now owns 1,081,670 shares of the biopharmaceutical company’s stock worth $6,922,000 after buying an additional 108,730 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Abeona Therapeutics by 869.7% in the first quarter. Goldman Sachs Group Inc. now owns 116,000 shares of the biopharmaceutical company’s stock worth $580,000 after buying an additional 104,038 shares during the period. Hedge funds and other institutional investors own 36.15% of the company’s stock.

About Abeona Therapeutics

Abeona Therapeutics Inc is a clinical-stage biopharmaceutical company developing novel gene therapies for life-threatening rare genetic diseases. The Company’s lead programs include ABO-102 (AAV-SGSH), an adeno-associated virus (AAV) based gene therapy for Sanfilippo syndrome type A (MPS IIIA) and EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB).

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