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

StockNews.com upgraded shares of Abeona Therapeutics (NASDAQ:ABEO - Free Report) from a sell rating to a hold rating in a report released on Thursday morning.

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $18.00 target price on shares of Abeona Therapeutics in a research note on Tuesday, October 29th. HC Wainwright reaffirmed a "buy" rating and set a $15.00 price objective on shares of Abeona Therapeutics in a research report on Monday.

Abeona Therapeutics Stock Up 6.3 %

Shares of ABEO traded up $0.38 during mid-day trading on Thursday, reaching $6.41. The company's stock had a trading volume of 720,326 shares, compared to its average volume of 430,801. The company has a market cap of $278.64 million, a price-to-earnings ratio of -2.38 and a beta of 1.52. The business has a fifty day moving average of $6.24 and a 200 day moving average of $5.32. The company has a quick ratio of 6.12, a current ratio of 6.12 and a debt-to-equity ratio of 0.31. Abeona Therapeutics has a 1 year low of $3.05 and a 1 year high of $9.01.

Hedge Funds Weigh In On Abeona Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rosalind Advisors Inc. bought a new stake in Abeona Therapeutics in the second quarter worth approximately $7,420,000. Renaissance Technologies LLC lifted its stake in shares of 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 last quarter. Simplify Asset Management Inc. bought a new stake in Abeona Therapeutics in the second quarter worth $1,732,000. abrdn plc increased its position in Abeona Therapeutics by 158.8% during the third quarter. abrdn plc now owns 326,995 shares of the biopharmaceutical company's stock worth $2,067,000 after buying an additional 200,647 shares during the last quarter. Finally, Western Standard LLC raised its holdings in Abeona Therapeutics by 7.0% during the third quarter. Western Standard LLC now owns 1,698,097 shares of the biopharmaceutical company's stock valued at $10,732,000 after buying an additional 110,998 shares in the last quarter. Institutional investors 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.