Abeona Therapeutics Inc (NASDAQ:ABEO) Shares Sold by Propel Bio Management LLC

Propel Bio Management LLC reduced its position in shares of Abeona Therapeutics Inc (NASDAQ:ABEO - Free Report) by 50.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 624,022 shares of the biopharmaceutical company's stock after selling 624,022 shares during the period. Abeona Therapeutics comprises about 2.3% of Propel Bio Management LLC's holdings, making the stock its 11th largest holding. Propel Bio Management LLC owned about 1.44% of Abeona Therapeutics worth $3,944,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC acquired a new position in shares of Abeona Therapeutics during the first quarter worth about $91,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Abeona Therapeutics during the third quarter worth about $151,000. Bank of New York Mellon Corp grew its position 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 buying an additional 2,434 shares in the last quarter. GSA Capital Partners LLP grew its position in shares of Abeona Therapeutics by 54.3% during the third quarter. GSA Capital Partners LLP now owns 96,092 shares of the biopharmaceutical company's stock worth $607,000 after buying an additional 33,831 shares in the last quarter. Finally, Simplify Asset Management Inc. acquired a new position in shares of Abeona Therapeutics during the second quarter worth about $1,732,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Abeona Therapeutics Stock Performance

NASDAQ ABEO traded up $0.09 on Tuesday, reaching $6.03. The stock had a trading volume of 212,731 shares, compared to its average volume of 429,537. Abeona Therapeutics Inc has a 12-month low of $3.05 and a 12-month 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 business's 50-day moving average price is $6.21 and its 200 day moving average price is $5.30. The stock has a market cap of $262.12 million, a P/E ratio of -2.22 and a beta of 1.52.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ABEO shares. HC Wainwright restated a "buy" rating and set a $15.00 target price on shares of Abeona Therapeutics in a research note on Monday. Cantor Fitzgerald restated an "overweight" rating and set a $18.00 target price on shares of Abeona Therapeutics in a research note on Tuesday, October 29th. Finally, StockNews.com upgraded Abeona Therapeutics from a "sell" rating to a "hold" rating in a research note on Wednesday, November 20th.

Abeona Therapeutics 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.