Abeona Therapeutics (NASDAQ:ABEO) Raised to “Hold” at StockNews.com

Abeona Therapeutics (NASDAQ:ABEO) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

ABEO has been the topic of a number of other reports. HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Abeona Therapeutics in a research report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $18.00 target price on shares of Abeona Therapeutics in a research report on Tuesday, October 29th.

Abeona Therapeutics Price Performance

Shares of ABEO stock opened at $5.89 on Wednesday. Abeona Therapeutics has a 1 year low of $3.05 and a 1 year high of $9.01. The firm’s 50 day moving average is $6.18 and its 200-day moving average is $5.27. The firm has a market capitalization of $256.04 million, a price-to-earnings ratio of -2.19 and a beta of 1.52. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On Abeona Therapeutics

Several large investors have recently bought and sold shares of ABEO. Rosalind Advisors Inc. acquired a new position in Abeona Therapeutics in the second quarter valued at approximately $7,420,000. Western Standard LLC lifted its holdings in Abeona Therapeutics by 68.5% in the first quarter. Western Standard LLC now owns 1,361,489 shares of the biopharmaceutical company’s stock valued at $9,871,000 after buying an additional 553,377 shares during the period. Renaissance Technologies LLC lifted its holdings in Abeona Therapeutics by 581.6% in the second quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company’s stock valued at $2,134,000 after buying an additional 429,456 shares during the period. Simplify Asset Management Inc. acquired a new position in Abeona Therapeutics in the second quarter valued at approximately $1,732,000. Finally, abrdn plc lifted its holdings in Abeona Therapeutics by 158.8% in the third quarter. abrdn plc now owns 326,995 shares of the biopharmaceutical company’s stock valued at $2,067,000 after buying an additional 200,647 shares during the period. 80.56% 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.