Abeona Therapeutics Inc (NASDAQ:ABEO) is Western Standard LLC's 3rd Largest Position

Western Standard LLC increased its position in shares of Abeona Therapeutics Inc (NASDAQ:ABEO - Free Report) by 22.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,084,418 shares of the biopharmaceutical company's stock after purchasing an additional 386,321 shares during the quarter. Abeona Therapeutics accounts for 7.7% of Western Standard LLC's investment portfolio, making the stock its 3rd biggest holding. Western Standard LLC owned approximately 4.80% of Abeona Therapeutics worth $11,610,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Squarepoint Ops LLC purchased a new stake in shares of Abeona Therapeutics in the fourth quarter valued at $67,000. Twinbeech Capital LP acquired a new stake in shares of Abeona Therapeutics during the 4th quarter worth about $58,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Abeona Therapeutics in the fourth quarter valued at approximately $362,000. Balyasny Asset Management L.P. acquired a new stake in Abeona Therapeutics during the fourth quarter worth approximately $190,000. Finally, Bank of America Corp DE grew 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 worth $1,473,000 after acquiring an additional 37,774 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Mark Alvino sold 8,000 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $5.68, for a total transaction of $45,440.00. Following the completion of the sale, the director now owns 92,435 shares of the company's stock, valued at $525,030.80. This represents a 7.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vishwas Seshadri sold 25,000 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $4.78, for a total value of $119,500.00. Following the sale, the chief executive officer now owns 1,355,322 shares in the company, valued at $6,478,439.16. The trade was a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.90% of the company's stock.

Analysts Set New Price Targets

ABEO has been the subject of several analyst reports. Oppenheimer assumed coverage on Abeona Therapeutics in a research note on Wednesday, March 5th. They issued an "outperform" rating and a $16.00 target price for the company. Stifel Nicolaus dropped their price objective on shares of Abeona Therapeutics from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Friday. StockNews.com lowered shares of Abeona Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 15th. Alliance Global Partners reaffirmed a "buy" rating on shares of Abeona Therapeutics in a research note on Thursday. Finally, HC Wainwright boosted their price objective on shares of Abeona Therapeutics from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.50.

Abeona Therapeutics Stock Up 2.1%

Shares of Abeona Therapeutics stock opened at $6.23 on Tuesday. Abeona Therapeutics Inc has a twelve month low of $3.93 and a twelve month high of $7.32. The stock has a market cap of $304.02 million, a price-to-earnings ratio of -2.32 and a beta of 1.68. 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 company has a fifty day moving average price of $5.20 and a 200 day moving average price of $5.55.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last posted its earnings results on Thursday, May 15th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.35) by $0.11. Equities research analysts forecast that Abeona Therapeutics Inc will post -1.16 earnings per share for the current fiscal year.

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.

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