683 Capital Management LLC Sells 116,845 Shares of Abeona Therapeutics Inc. $ABEO

Key Points

• 683 Capital Management LLC has reduced its stake in Abeona Therapeutics Inc. by 14.8%, now holding approximately $3.21 million worth of shares.
• Abeona Therapeutics' stock price is currently at $6.83, and it has a market capitalization of $350.24 million, with a 52-week range between $3.93 and $7.54.
• Wall Street analysts generally recommend a "Buy" rating for Abeona Therapeutics, with a consensus target price of $19.50, despite the recent earnings report showing an earnings per share of $1.71, exceeding estimates.

683 Capital Management LLC decreased its position in shares of Abeona Therapeutics Inc. (NASDAQ:ABEO - Free Report) by 14.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 675,000 shares of the biopharmaceutical company's stock after selling 116,845 shares during the period. 683 Capital Management LLC owned 1.38% of Abeona Therapeutics worth $3,213,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Northern Trust Corp lifted its stake in Abeona Therapeutics by 6.6% in the 4th quarter. Northern Trust Corp now owns 184,929 shares of the biopharmaceutical company's stock worth $1,030,000 after acquiring an additional 11,478 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Abeona Therapeutics in the fourth quarter worth approximately $341,000. Jane Street Group LLC grew its position in Abeona Therapeutics by 894.8% during the fourth quarter. Jane Street Group LLC now owns 131,478 shares of the biopharmaceutical company's stock valued at $732,000 after purchasing an additional 118,262 shares in the last quarter. Bank of America Corp DE increased its stake in Abeona Therapeutics by 16.7% in the 4th quarter. Bank of America Corp DE now owns 264,439 shares of the biopharmaceutical company's stock valued at $1,473,000 after buying an additional 37,774 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new stake in Abeona Therapeutics in the 4th quarter worth approximately $190,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Abeona Therapeutics Stock Performance

NASDAQ ABEO traded up $0.03 during trading on Friday, hitting $6.89. The company's stock had a trading volume of 536,782 shares, compared to its average volume of 682,307. The company has a quick ratio of 6.65, a current ratio of 6.73 and a debt-to-equity ratio of 0.09. Abeona Therapeutics Inc. has a 52 week low of $3.93 and a 52 week high of $7.54. The firm has a 50 day moving average price of $6.50 and a 200 day moving average price of $5.87. The firm has a market cap of $353.32 million, a P/E ratio of 9.84 and a beta of 1.67.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The biopharmaceutical company reported $1.71 earnings per share for the quarter, topping the consensus estimate of ($0.39) by $2.10. The firm had revenue of $0.40 million for the quarter, compared to analyst estimates of $21.71 million. Equities research analysts forecast that Abeona Therapeutics Inc. will post -1.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABEO. Oppenheimer upped their price target on shares of Abeona Therapeutics from $19.00 to $20.00 and gave the stock an "outperform" rating in a research note on Friday, August 15th. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 target price on shares of Abeona Therapeutics in a research report on Monday, August 18th. Wall Street Zen cut Abeona Therapeutics from a "hold" rating to a "sell" rating in a research note on Thursday, May 15th. Stifel Nicolaus cut their price objective on shares of Abeona Therapeutics from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Finally, Alliance Global Partners reissued a "buy" rating on shares of Abeona Therapeutics in a research report on Thursday, May 15th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $19.50.

Insiders Place Their Bets

In other news, CEO Vishwas Seshadri sold 69,420 shares of the business's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total transaction of $406,801.20. Following the completion of the transaction, the chief executive officer directly owned 1,234,341 shares in the company, valued at approximately $7,233,238.26. The trade was a 5.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brendan M. O'malley sold 17,428 shares of the firm's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total value of $102,128.08. Following the sale, the senior vice president directly owned 360,817 shares in the company, valued at approximately $2,114,387.62. This represents a 4.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 150,685 shares of company stock valued at $884,186 over the last quarter. Company insiders own 6.90% of the company's stock.

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.