Abeona Therapeutics Inc. $ABEO Shares Newly Purchased by Simplify Asset Management Inc.

Key Points

• Simplify Asset Management acquired 276,333 Abeona Therapeutics shares in the third quarter, valued at approximately $1.45 million. Institutional investors collectively own 80.56% of ABEO.
• Abeona’s latest quarter fell short of expectations, with a loss of $0.35 per share versus the projected $0.23 loss and revenue of $11.38 million versus the $12.24 million estimate.
• Analyst sentiment remains generally positive: five analysts rate the stock a Buy and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $21, compared with a recent share price of $4.55.

Simplify Asset Management Inc. acquired a new position in Abeona Therapeutics Inc. (NASDAQ:ABEO - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 276,333 shares of the biopharmaceutical company's stock, valued at approximately $1,451,000.

Other institutional investors have also recently modified their holdings of the company. AIGH Capital Management LLC boosted its stake in Abeona Therapeutics by 55.0% in the first quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company's stock worth $13,888,000 after buying an additional 1,100,000 shares in the last quarter. AWM Investment Company Inc. purchased a new position in shares of Abeona Therapeutics during the second quarter worth approximately $9,184,000. Bank of New York Mellon Corp bought a new stake in shares of Abeona Therapeutics in the 2nd quarter worth approximately $1,262,000. Sei Investments Co. lifted its holdings in shares of Abeona Therapeutics by 142.4% in the 1st quarter. Sei Investments Co. now owns 172,460 shares of the biopharmaceutical company's stock worth $773,000 after acquiring an additional 101,307 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Abeona Therapeutics by 38.6% in the 1st quarter. Renaissance Technologies LLC now owns 161,082 shares of the biopharmaceutical company's stock worth $722,000 after acquiring an additional 44,882 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

Abeona Therapeutics Stock Up 2.2%

Shares of NASDAQ:ABEO opened at $4.55 on Thursday. The stock's 50-day moving average is $5.31 and its 200 day moving average is $5.49. The company has a market cap of $260.17 million, a PE ratio of -4.17 and a beta of 1.31. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.63 and a quick ratio of 6.40. Abeona Therapeutics Inc. has a 1 year low of $4.00 and a 1 year high of $7.65.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The business had revenue of $11.38 million during the quarter, compared to analyst estimates of $12.24 million. Sell-side analysts anticipate that Abeona Therapeutics Inc. will post -0.88 EPS for the current year.

Insider Activity at Abeona Therapeutics

In related news, insider Madhav Vasanthavada sold 4,902 shares of the firm's stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $5.16, for a total value of $25,294.32. Following the completion of the sale, the insider owned 285,721 shares of the company's stock, valued at $1,474,320.36. This trade represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Brendan M. O'malley sold 6,727 shares of Abeona Therapeutics stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $5.16, for a total transaction of $34,711.32. Following the completion of the sale, the senior vice president owned 421,226 shares in the company, valued at approximately $2,173,526.16. This trade represents a 1.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 55,428 shares of company stock valued at $296,508 over the last 90 days. Company insiders own 7.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ABEO shares. UBS Group reaffirmed a "buy" rating on shares of Abeona Therapeutics in a research note on Friday, September 25th. Oppenheimer reiterated an "outperform" rating and issued a $21.00 target price (down from $22.00) on shares of Abeona Therapeutics in a research report on Friday, August 14th. Weiss Ratings downgraded shares of Abeona Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, August 17th. Roth Capital started coverage on shares of Abeona Therapeutics in a research report on Thursday, September 17th. They set a "buy" rating and a $17.00 price target for the company. Finally, HC Wainwright restated a "buy" rating on shares of Abeona Therapeutics in a research report on Friday, September 25th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, Abeona Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $21.00.

Abeona Therapeutics Profile

Abeona Therapeutics Inc NASDAQ: ABEO is a biopharmaceutical company focused on developing and commercializing cell and gene therapies for serious and rare genetic diseases. The company's programs are designed to address conditions with limited treatment options, including diseases caused by genetic defects affecting the skin and other tissues.

Abeona's lead product, prademagene zamikeracel, is an autologous cell therapy for recessive dystrophic epidermolysis bullosa (RDEB), a rare inherited disorder that causes fragile skin and chronic wounds.

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