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

Simplify Asset Management Inc. bought a new stake in Abeona Therapeutics Inc (NASDAQ:ABEO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 408,584 shares of the biopharmaceutical company’s stock, valued at approximately $1,732,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ABEO. Renaissance Technologies LLC raised its stake in Abeona Therapeutics by 581.6% in the 2nd quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company’s stock worth $2,134,000 after purchasing an additional 429,456 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Abeona Therapeutics by 2.0% during the second 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 period. Rosalind Advisors Inc. bought a new position in shares of Abeona Therapeutics during the second quarter worth approximately $7,420,000. Western Standard LLC raised its position in shares of 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 in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Abeona Therapeutics in the first quarter valued at approximately $91,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Abeona Therapeutics Stock Performance

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

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings data on Monday, August 12th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.42). On average, equities 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.