Propel Bio Management LLC Cuts Position in Abeona Therapeutics Inc (NASDAQ:ABEO)

Propel Bio Management LLC reduced its stake in shares of Abeona Therapeutics Inc (NASDAQ:ABEO) by 50.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 624,022 shares of the biopharmaceutical company’s stock after selling 624,022 shares during the period. Abeona Therapeutics makes up about 2.3% of Propel Bio Management LLC’s holdings, making the stock its 11th largest position. Propel Bio Management LLC’s holdings in Abeona Therapeutics were worth $3,944,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. abrdn plc boosted its holdings 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 in the last quarter. Renaissance Technologies LLC lifted its position in shares of Abeona Therapeutics by 581.6% during the 2nd quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company’s stock valued at $2,134,000 after acquiring an additional 429,456 shares during the period. Simplify Asset Management Inc. acquired a new stake in shares of Abeona Therapeutics during the 2nd quarter valued at approximately $1,732,000. Acadian Asset Management LLC purchased a new stake in shares of Abeona Therapeutics during the 1st quarter worth approximately $91,000. Finally, Rosalind Advisors Inc. grew its holdings in shares of Abeona Therapeutics by 4.7% in the 3rd quarter. Rosalind Advisors Inc. now owns 1,832,000 shares of the biopharmaceutical company’s stock worth $11,578,000 after acquiring an additional 82,000 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on ABEO. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of Abeona Therapeutics in a report on Monday. StockNews.com upgraded shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $18.00 price objective on shares of Abeona Therapeutics in a research note on Tuesday, October 29th.

Abeona Therapeutics Stock Down 0.7 %

ABEO opened at $5.94 on Tuesday. The firm has a market cap of $258.21 million, a P/E ratio of -2.21 and a beta of 1.52. The business’s fifty day simple moving average is $6.20 and its 200 day simple moving average is $5.29. Abeona Therapeutics Inc has a 52 week low of $3.05 and a 52 week high of $9.01. The company has a quick ratio of 6.12, a current ratio of 6.12 and a debt-to-equity ratio of 0.31.

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.