Simplify Asset Management Inc. Makes New $1.73 Million Investment in Abeona Therapeutics Inc (NASDAQ:ABEO)

Simplify Asset Management Inc. bought a new stake in Abeona Therapeutics Inc (NASDAQ:ABEO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 408,584 shares of the biopharmaceutical company’s stock, valued at approximately $1,732,000. Simplify Asset Management Inc. owned 1.00% of Abeona Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Jump Financial LLC acquired a new position in Abeona Therapeutics in the fourth quarter valued at approximately $199,000. Acadian Asset Management LLC bought a new stake in shares of Abeona Therapeutics during the 1st quarter valued at $91,000. Renaissance Technologies LLC lifted its stake in shares of Abeona Therapeutics by 581.6% in the 2nd quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company’s stock valued at $2,134,000 after purchasing an additional 429,456 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Abeona Therapeutics by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 121,453 shares of the biopharmaceutical company’s stock worth $515,000 after purchasing an additional 2,434 shares during the last quarter. Finally, Rosalind Advisors Inc. bought a new position in shares of Abeona Therapeutics in the 2nd quarter worth $7,420,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. Stifel Nicolaus started coverage on shares of Abeona Therapeutics in a research report on Thursday, May 30th. They set a “buy” rating and a $21.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $15.00 price objective on shares of Abeona Therapeutics in a research report on Wednesday, August 14th.

Abeona Therapeutics Stock Performance

Shares of ABEO stock opened at $5.80 on Friday. Abeona Therapeutics Inc has a 12 month low of $3.05 and a 12 month high of $9.01. The company’s fifty day simple moving average is $5.21 and its 200-day simple moving average is $5.47. The firm has a market cap of $237.59 million, a PE ratio of -1.81 and a beta of 1.53. The company has a quick ratio of 7.48, a current ratio of 7.48 and a debt-to-equity ratio of 0.22.

Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Monday, August 12th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.42). Equities research analysts expect that Abeona Therapeutics Inc will post -1.28 EPS for the current fiscal year.

Abeona Therapeutics Company Profile

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.