Newtyn Management LLC Raises Stock Holdings in Abeona Therapeutics Inc. $ABEO

Key Points

• Newtyn Management LLC increased its stake in Abeona Therapeutics Inc. by 26.3%, holding 480,000 shares valued at approximately $2.3 million.
• Abeona Therapeutics' recent quarterly earnings showed a notable positive result with an EPS of $1.71, significantly exceeding the consensus estimate of ($0.39).
• Institutional investors own 80.56% of Abeona Therapeutics, indicating a strong institutional interest in the company.

Newtyn Management LLC grew its stake in Abeona Therapeutics Inc. (NASDAQ:ABEO - Free Report) by 26.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 480,000 shares of the biopharmaceutical company's stock after purchasing an additional 100,000 shares during the period. Abeona Therapeutics makes up approximately 0.4% of Newtyn Management LLC's portfolio, making the stock its 26th biggest holding. Newtyn Management LLC owned about 0.98% of Abeona Therapeutics worth $2,285,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Western Standard LLC increased its holdings in shares of Abeona Therapeutics by 22.8% in the fourth quarter. Western Standard LLC now owns 2,084,418 shares of the biopharmaceutical company's stock valued at $11,610,000 after purchasing an additional 386,321 shares during the period. Bank of America Corp DE increased its holdings 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 purchasing an additional 37,774 shares during the period. Northern Trust Corp increased its holdings 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 purchasing an additional 11,478 shares during the period. Wellington Management Group LLP increased its holdings in shares of Abeona Therapeutics by 64.1% in the first quarter. Wellington Management Group LLP now owns 153,121 shares of the biopharmaceutical company's stock valued at $729,000 after purchasing an additional 59,832 shares during the period. Finally, Jane Street Group LLC grew its holdings 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 worth $732,000 after acquiring an additional 118,262 shares during the period. Institutional investors and hedge funds own 80.56% of the company's stock.

Abeona Therapeutics Price Performance

ABEO traded down $0.04 during trading on Wednesday, reaching $6.79. 387,086 shares of the stock were exchanged, compared to its average volume of 988,350. The business's 50 day moving average price is $6.55 and its two-hundred day moving average price is $5.88. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.73 and a quick ratio of 6.65. The company has a market capitalization of $348.18 million, a price-to-earnings ratio of 9.74 and a beta of 1.67. Abeona Therapeutics Inc. has a 1 year low of $3.93 and a 1 year high of $7.54.

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

Insider Activity at Abeona Therapeutics

In other Abeona Therapeutics news, Director Faith L. Charles sold 10,738 shares of the business's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total transaction of $62,924.68. Following the sale, the director directly owned 139,094 shares in the company, valued at approximately $815,090.84. The trade was a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brendan M. O'malley sold 17,428 shares of the company's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $5.86, for a total value of $102,128.08. Following the completion of the sale, the senior vice president owned 360,817 shares in the company, valued at $2,114,387.62. This represents a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 150,685 shares of company stock valued at $884,186 in the last 90 days. 5.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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