AWM Investment Company Inc. bought a new stake in Abeona Therapeutics Inc. (NASDAQ:ABEO - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 1,486,130 shares of the biopharmaceutical company's stock, valued at approximately $9,184,000. AWM Investment Company Inc. owned 2.61% of Abeona Therapeutics at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in ABEO. Royal Bank of Canada raised its position in shares of Abeona Therapeutics by 49.6% in the first quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 2,155 shares during the period. Legato Capital Management LLC grew its position in shares of Abeona Therapeutics by 21.0% during the 4th quarter. Legato Capital Management LLC now owns 13,180 shares of the biopharmaceutical company's stock valued at $69,000 after acquiring an additional 2,290 shares during the period. Deutsche Bank AG increased its stake in shares of Abeona Therapeutics by 6.2% in the 4th quarter. Deutsche Bank AG now owns 39,368 shares of the biopharmaceutical company's stock valued at $207,000 after purchasing an additional 2,303 shares in the last quarter. Rangeley Capital LLC increased its stake in shares of Abeona Therapeutics by 4.2% in the 1st quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company's stock valued at $269,000 after purchasing an additional 2,400 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in Abeona Therapeutics by 5.3% in the 4th quarter. LPL Financial LLC now owns 62,873 shares of the biopharmaceutical company's stock worth $331,000 after purchasing an additional 3,165 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, CEO Vishwas Seshadri sold 67,971 shares of the company's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $6.96, for a total value of $473,078.16. Following the completion of the sale, the chief executive officer owned 1,306,108 shares of the company's stock, valued at approximately $9,090,511.68. This represents a 4.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 12,050 shares of the company's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $6.96, for a total transaction of $83,868.00. Following the completion of the sale, the senior vice president directly owned 427,953 shares of the company's stock, valued at $2,978,552.88. This represents a 2.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 274,578 shares of company stock valued at $1,674,433 in the last 90 days. 7.10% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Oppenheimer restated an "outperform" rating and issued a $21.00 price objective (down from $22.00) on shares of Abeona Therapeutics in a research report on Friday, August 14th. HC Wainwright reiterated a "buy" rating and set a $20.00 target price on shares of Abeona Therapeutics in a research report on Thursday, May 28th. Wall Street Zen raised shares of Abeona Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings lowered shares of Abeona Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, August 17th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $19.33.
Check Out Our Latest Report on Abeona Therapeutics
Abeona Therapeutics Stock Performance
ABEO opened at $6.21 on Wednesday. Abeona Therapeutics Inc. has a twelve month low of $4.00 and a twelve month high of $7.65. The firm has a market capitalization of $355.09 million, a PE ratio of -5.70 and a beta of 1.35. The company has a current ratio of 6.63, a quick ratio of 6.40 and a debt-to-equity ratio of 0.01. The firm's 50-day moving average price is $6.40 and its 200 day moving average price is $5.62.
Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.12). The business had revenue of $11.38 million for the quarter, compared to the consensus estimate of $12.24 million. As a group, sell-side analysts expect that Abeona Therapeutics Inc. will post -0.92 EPS for the current fiscal year.
About Abeona Therapeutics
(
Free Report)
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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