AIGH Capital Management LLC Increases Stock Position in Abeona Therapeutics Inc. $ABEO

AIGH Capital Management LLC boosted its position in shares of Abeona Therapeutics Inc. (NASDAQ:ABEO - Free Report) by 55.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,100,000 shares of the biopharmaceutical company's stock after buying an additional 1,100,000 shares during the quarter. Abeona Therapeutics makes up 1.9% of AIGH Capital Management LLC's holdings, making the stock its 14th biggest position. AIGH Capital Management LLC owned about 5.45% of Abeona Therapeutics worth $13,888,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc purchased a new stake in shares of Abeona Therapeutics during the 2nd quarter worth about $27,000. Russell Investments Group Ltd. acquired a new stake in shares of Abeona Therapeutics during the 3rd quarter valued at about $37,000. Truvestments Capital LLC increased its stake in shares of Abeona Therapeutics by 191.4% in the 4th quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company's stock valued at $54,000 after purchasing an additional 6,770 shares in the last quarter. SG Americas Securities LLC acquired a new position in Abeona Therapeutics in the 4th quarter worth about $57,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in Abeona Therapeutics during the third quarter worth approximately $64,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ABEO. Stifel Nicolaus set a $17.00 price objective on Abeona Therapeutics in a research report on Tuesday, March 17th. Wall Street Zen upgraded Abeona Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Monday, June 1st. Weiss Ratings raised shares of Abeona Therapeutics from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, June 29th. Finally, HC Wainwright reissued a "buy" rating and issued a $20.00 price target on shares of Abeona Therapeutics in a report on Thursday, May 28th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $19.00.

Abeona Therapeutics Trading Up 3.8%

ABEO stock opened at $6.80 on Thursday. Abeona Therapeutics Inc. has a 12-month low of $4.00 and a 12-month high of $7.54. The business's 50-day moving average is $5.71 and its 200 day moving average is $5.30. The company has a current ratio of 5.89, a quick ratio of 5.70 and a debt-to-equity ratio of 0.03. The stock has a market cap of $387.53 million, a price-to-earnings ratio of 7.01 and a beta of 1.34.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last released its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.03. The firm had revenue of $8.72 million during the quarter, compared to analysts' expectations of $4.57 million. On average, sell-side analysts anticipate that Abeona Therapeutics Inc. will post -0.79 EPS for the current fiscal year.

Insider Transactions at Abeona Therapeutics

In other news, Director Eric Crombez sold 26,143 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $5.53, for a total value of $144,570.79. Following the completion of the sale, the director directly owned 37,313 shares in the company, valued at $206,340.89. This represents a 41.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leila Alland sold 11,000 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $5.92, for a total transaction of $65,120.00. Following the completion of the sale, the director owned 162,614 shares of the company's stock, valued at $962,674.88. This trade represents a 6.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 193,784 shares of company stock worth $1,060,060 in the last quarter. 7.10% of the stock is owned by insiders.

Abeona Therapeutics Profile

Abeona Therapeutics is a clinical‐stage biopharmaceutical company focused on the development and commercialization of gene and cell therapies for severe, life‐threatening rare diseases and oncology indications. Founded in 2014 and headquartered in Cleveland, Ohio, Abeona leverages proprietary viral and non‐viral delivery platforms to correct or compensate for underlying genetic deficiencies. The company's research efforts target pediatric neurodegenerative disorders as well as debilitating dermatologic conditions with high unmet medical need.

The company's lead clinical programs include separate AAV‐based gene therapies for CLN1 and CLN3 forms of neuronal ceroid lipofuscinosis, alongside an ex vivo autologous cell therapy for recessive dystrophic epidermolysis bullosa.

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