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

StockNews.com upgraded shares of Abeona Therapeutics (NASDAQ:ABEO) from a sell rating to a hold rating in a report released on Wednesday.

Other equities analysts also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $18.00 price objective on shares of Abeona Therapeutics in a report on Tuesday, October 29th. HC Wainwright restated a “buy” rating and issued a $15.00 price target on shares of Abeona Therapeutics in a research report on Thursday, October 31st.

Abeona Therapeutics Price Performance

Shares of ABEO opened at $5.98 on Wednesday. Abeona Therapeutics has a 52 week low of $3.05 and a 52 week high of $9.01. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.31. The firm has a market cap of $259.96 million, a price-to-earnings ratio of -2.22 and a beta of 1.52. The stock has a 50 day moving average of $6.19 and a 200-day moving average of $5.27.

Hedge Funds Weigh In On Abeona Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of ABEO. abrdn plc increased its holdings in shares of Abeona Therapeutics by 158.8% in the 3rd quarter. abrdn plc now owns 326,995 shares of the biopharmaceutical company’s stock worth $2,067,000 after acquiring an additional 200,647 shares during the period. Renaissance Technologies LLC increased its stake in shares of 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 purchasing an additional 429,456 shares during the period. Simplify Asset Management Inc. bought a new stake in shares of Abeona Therapeutics during the second quarter valued at approximately $1,732,000. Acadian Asset Management LLC acquired a new position in shares of Abeona Therapeutics during the first quarter worth approximately $91,000. Finally, Rosalind Advisors Inc. boosted its position in shares of Abeona Therapeutics by 4.7% during the third quarter. Rosalind Advisors Inc. now owns 1,832,000 shares of the biopharmaceutical company’s stock worth $11,578,000 after buying an additional 82,000 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

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.