683 Capital Management LLC Decreases Stock Holdings in 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 holdings in Abeona Therapeutics Inc. (NASDAQ:ABEO - Free Report) by 14.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 reporting period.

A number of other large investors also recently modified their holdings of ABEO. Northern Trust Corp boosted its position in shares of Abeona Therapeutics by 6.6% in the fourth quarter. Northern Trust Corp now owns 184,929 shares of the biopharmaceutical company's stock valued at $1,030,000 after acquiring an additional 11,478 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in shares of Abeona Therapeutics in the fourth quarter valued at approximately $341,000. Jane Street Group LLC boosted its position in shares of Abeona Therapeutics by 894.8% in the fourth quarter. Jane Street Group LLC now owns 131,478 shares of the biopharmaceutical company's stock valued at $732,000 after acquiring an additional 118,262 shares during the period. Bank of America Corp DE boosted its position in shares of Abeona Therapeutics by 16.7% in the fourth quarter. Bank of America Corp DE now owns 264,439 shares of the biopharmaceutical company's stock valued at $1,473,000 after acquiring an additional 37,774 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in shares of Abeona Therapeutics in the fourth quarter valued at approximately $190,000. 80.56% of the stock is currently owned by institutional investors.

Abeona Therapeutics Price Performance

Shares of ABEO stock traded up $0.03 during trading hours on Friday, hitting $6.89. 536,782 shares of the company's stock were exchanged, compared to its average volume of 682,307. The company has a market capitalization of $353.32 million, a PE ratio of 9.84 and a beta of 1.67. Abeona Therapeutics Inc. has a 12-month low of $3.93 and a 12-month high of $7.54. The business's 50 day simple moving average is $6.50 and its 200-day simple moving average is $5.86. The company has a current ratio of 6.73, a quick ratio of 6.65 and a debt-to-equity ratio of 0.09.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The biopharmaceutical company reported $1.71 EPS for the quarter, topping the consensus estimate of ($0.39) by $2.10. The business had revenue of $0.40 million for the quarter, compared to analysts' expectations of $21.71 million. On average, equities research analysts anticipate that Abeona Therapeutics Inc. will post -1.16 earnings per share for the current year.

Insider Activity

In other Abeona Therapeutics news, SVP Brendan M. O'malley sold 17,428 shares of Abeona Therapeutics stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $5.86, for a total transaction of $102,128.08. Following the transaction, the senior vice president directly owned 360,817 shares of the company's stock, valued at approximately $2,114,387.62. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vishwas Seshadri sold 69,420 shares of Abeona Therapeutics stock in a transaction on 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 150,685 shares of company stock valued at $884,186. Insiders own 6.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ABEO shares. Alliance Global Partners restated a "buy" rating on shares of Abeona Therapeutics in a research report on Thursday, May 15th. Oppenheimer raised their price objective on shares of Abeona Therapeutics from $19.00 to $20.00 and gave the company an "outperform" rating in a research report on Friday, August 15th. Wall Street Zen lowered shares of Abeona Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 15th. HC Wainwright reiterated a "buy" rating and set a $20.00 target price on shares of Abeona Therapeutics in a research report on Monday, August 18th. Finally, Stifel Nicolaus dropped their target price on shares of Abeona Therapeutics from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Abeona Therapeutics presently has a consensus rating of "Buy" and an average target price of $19.50.

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.