StockNews.com Upgrades Abeona Therapeutics (NASDAQ:ABEO) to Hold

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

Several other research firms have also weighed in on ABEO. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Abeona Therapeutics in a research note on Monday, November 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $18.00 price target on shares of Abeona Therapeutics in a research note on Tuesday, October 29th.

Abeona Therapeutics Trading Up 1.2 %

Shares of ABEO stock opened at $5.70 on Friday. Abeona Therapeutics has a fifty-two week low of $3.05 and a fifty-two week high of $9.01. The company has a debt-to-equity ratio of 0.31, a quick ratio of 6.12 and a current ratio of 6.12. The stock has a 50 day simple moving average of $6.16 and a two-hundred day simple moving average of $5.52. The company has a market cap of $247.78 million, a P/E ratio of -2.12 and a beta of 1.44.

Hedge Funds Weigh In On Abeona Therapeutics

A number of institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC grew its position in 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. Simplify Asset Management Inc. bought a new position in shares of Abeona Therapeutics in the second quarter valued at $1,732,000. abrdn plc grew its holdings in shares of Abeona Therapeutics by 158.8% during 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 last quarter. Western Standard LLC increased its position in shares of Abeona Therapeutics by 7.0% during the third quarter. Western Standard LLC now owns 1,698,097 shares of the biopharmaceutical company’s stock worth $10,732,000 after acquiring an additional 110,998 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Abeona Therapeutics by 21.7% in the 3rd quarter. Geode Capital Management LLC now owns 465,317 shares of the biopharmaceutical company’s stock worth $2,942,000 after acquiring an additional 83,050 shares during the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

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.