Ikarian Capital LLC Reduces Position in Abeona Therapeutics Inc (NASDAQ:ABEO)

Ikarian Capital LLC cut its holdings in shares of Abeona Therapeutics Inc (NASDAQ:ABEO) by 24.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 583,593 shares of the biopharmaceutical company’s stock after selling 185,171 shares during the quarter. Ikarian Capital LLC owned approximately 1.35% of Abeona Therapeutics worth $3,688,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Citigroup Inc. lifted its holdings in Abeona Therapeutics by 10.1% during the third quarter. Citigroup Inc. now owns 616,668 shares of the biopharmaceutical company’s stock valued at $3,897,000 after purchasing an additional 56,332 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new stake in Abeona Therapeutics during the third quarter valued at about $151,000. GSA Capital Partners LLP lifted its holdings in Abeona Therapeutics by 54.3% during the third quarter. GSA Capital Partners LLP now owns 96,092 shares of the biopharmaceutical company’s stock valued at $607,000 after purchasing an additional 33,831 shares during the last quarter. Rosalind Advisors Inc. lifted its holdings in Abeona Therapeutics by 4.7% during the third quarter. Rosalind Advisors Inc. now owns 1,832,000 shares of the biopharmaceutical company’s stock valued at $11,578,000 after purchasing an additional 82,000 shares during the last quarter. Finally, abrdn plc lifted 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 valued at $2,067,000 after purchasing an additional 200,647 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Abeona Therapeutics Price Performance

Shares of Abeona Therapeutics stock traded down $0.11 on Tuesday, reaching $6.23. The stock had a trading volume of 8,372 shares, compared to its average volume of 426,807. Abeona Therapeutics Inc has a 1 year low of $3.05 and a 1 year high of $9.01. The company has a market cap of $270.82 million, a P/E ratio of -2.36 and a beta of 1.44. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $6.27 and its two-hundred day moving average is $5.37.

Analysts Set New Price Targets

ABEO has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $18.00 price objective on shares of Abeona Therapeutics in a report on Tuesday, October 29th. StockNews.com raised shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Finally, HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of Abeona Therapeutics in a report on Monday, November 25th.

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.