Nan Fung Trinity HK Ltd. Buys 396,000 Shares of Abeona Therapeutics Inc. $ABEO

Key Points

• Nan Fung Trinity HK Ltd. increased its Abeona Therapeutics stake by 70.6% in the fourth quarter, buying 396,000 additional shares and bringing its holdings to 956,770 shares worth about $5.0 million.
• Institutional ownership remains high, with several other hedge funds and investors also adding new positions in ABEO; institutions now own 80.56% of the company.
• Abeona’s latest results beat EPS expectations, reporting a quarterly loss of $0.34 per share versus a $0.35 estimate, though revenue of $3.0 million fell short of the $5.65 million consensus.

Nan Fung Trinity HK Ltd. raised its stake in shares of Abeona Therapeutics Inc. (NASDAQ:ABEO - Free Report) by 70.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 956,770 shares of the biopharmaceutical company's stock after purchasing an additional 396,000 shares during the quarter. Nan Fung Trinity HK Ltd. owned 1.77% of Abeona Therapeutics worth $5,042,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ABEO. Legal & General Group Plc bought a new position in shares of Abeona Therapeutics during the 2nd quarter worth about $27,000. Russell Investments Group Ltd. bought a new position in shares of Abeona Therapeutics during the 3rd quarter worth about $37,000. SG Americas Securities LLC bought a new position in shares of Abeona Therapeutics during the 4th quarter worth about $57,000. Legato Capital Management LLC bought a new position in shares of Abeona Therapeutics during the 3rd quarter worth about $57,000. Finally, Sherbrooke Park Advisers LLC bought a new position in shares of Abeona Therapeutics during the 3rd quarter worth about $64,000. Institutional investors own 80.56% of the company's stock.

Abeona Therapeutics Price Performance

Shares of Abeona Therapeutics stock opened at $5.90 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.74 and a current ratio of 6.93. The firm's 50-day simple moving average is $5.02 and its 200-day simple moving average is $5.03. Abeona Therapeutics Inc. has a twelve month low of $4.00 and a twelve month high of $7.54. The firm has a market cap of $335.59 million, a P/E ratio of 5.73 and a beta of 1.35.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last issued its earnings results on Tuesday, March 17th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.01. The business had revenue of $3.00 million for the quarter, compared to analyst estimates of $5.65 million. As a group, research analysts expect that Abeona Therapeutics Inc. will post -0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ABEO has been the topic of several recent research reports. Weiss Ratings reiterated a "sell (d+)" rating on shares of Abeona Therapeutics in a research report on Wednesday, January 21st. HC Wainwright reiterated a "buy" rating and set a $20.00 target price on shares of Abeona Therapeutics in a research report on Thursday, March 19th. Stifel Nicolaus set a $17.00 target price on shares of Abeona Therapeutics in a research report on Tuesday, March 17th. Finally, Oppenheimer reiterated an "outperform" rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Abeona Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $19.00.

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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