Walleye Capital LLC Sells 402,944 Shares of Abeona Therapeutics Inc. $ABEO

Key Points

• Walleye Capital LLC reduced its stake in Abeona Therapeutics by 68.7%, selling 402,944 shares, and now holds about 183,306 shares valued at $873,000.
• Abeona Therapeutics reported a quarterly EPS of $1.71, significantly beating the consensus estimate of ($0.39), but its revenue of $0.40 million was well below the expected $21.71 million.
• Analysts currently maintain a consensus rating of **"Buy"** for Abeona Therapeutics, with an average price target set at **$19.50** despite mixed price targets from various analysts.

Walleye Capital LLC cut its stake in Abeona Therapeutics Inc. (NASDAQ:ABEO - Free Report) by 68.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,306 shares of the biopharmaceutical company's stock after selling 402,944 shares during the period. Walleye Capital LLC owned approximately 0.38% of Abeona Therapeutics worth $873,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Western Standard LLC lifted its holdings in shares of Abeona Therapeutics by 22.8% during the fourth quarter. Western Standard LLC now owns 2,084,418 shares of the biopharmaceutical company's stock valued at $11,610,000 after acquiring an additional 386,321 shares during the period. Bank of America Corp DE raised its holdings in Abeona Therapeutics by 16.7% during the 4th quarter. Bank of America Corp DE now owns 264,439 shares of the biopharmaceutical company's stock worth $1,473,000 after purchasing an additional 37,774 shares during the last quarter. Northern Trust Corp boosted its holdings in Abeona Therapeutics by 6.6% during the fourth quarter. Northern Trust Corp now owns 184,929 shares of the biopharmaceutical company's stock worth $1,030,000 after buying an additional 11,478 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Abeona Therapeutics by 64.1% in the 1st quarter. Wellington Management Group LLP now owns 153,121 shares of the biopharmaceutical company's stock valued at $729,000 after acquiring an additional 59,832 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Abeona Therapeutics by 894.8% in the 4th quarter. Jane Street Group LLC now owns 131,478 shares of the biopharmaceutical company's stock valued at $732,000 after acquiring an additional 118,262 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

Insider Buying and Selling at Abeona Therapeutics

In other Abeona Therapeutics news, CFO Joseph Walter Vazzano sold 25,411 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total transaction of $148,908.46. Following the completion of the sale, the chief financial officer owned 479,168 shares of the company's stock, valued at $2,807,924.48. This trade represents a 5.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vishwas Seshadri sold 69,420 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total value of $406,801.20. Following the transaction, the chief executive officer owned 1,234,341 shares in the company, valued at $7,233,238.26. The trade was a 5.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 150,685 shares of company stock worth $884,186. 6.90% of the stock is currently owned by corporate insiders.

Abeona Therapeutics Stock Up 0.6%

Shares of NASDAQ ABEO traded up $0.04 during trading hours on Friday, hitting $6.90. The company had a trading volume of 142,641 shares, compared to its average volume of 993,910. The stock has a market capitalization of $353.83 million, a P/E ratio of 9.86 and a beta of 1.67. The company has a quick ratio of 6.65, a current ratio of 6.73 and a debt-to-equity ratio of 0.09. Abeona Therapeutics Inc. has a 1-year low of $3.93 and a 1-year high of $7.54. The firm's 50 day moving average is $6.48 and its 200-day moving average is $5.86.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last issued its earnings results on Thursday, August 14th. The biopharmaceutical company reported $1.71 EPS for the quarter, topping the consensus estimate of ($0.39) by $2.10. The business had revenue of $0.40 million for the quarter, compared to the consensus estimate of $21.71 million. On average, analysts expect that Abeona Therapeutics Inc. will post -1.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on ABEO. Alliance Global Partners reiterated a "buy" rating on shares of Abeona Therapeutics in a research report on Thursday, May 15th. Stifel Nicolaus reduced their price target on Abeona Therapeutics from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Wall Street Zen downgraded Abeona Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 15th. Oppenheimer upped their price target on Abeona Therapeutics from $19.00 to $20.00 and gave the stock an "outperform" rating in a research report on Friday, August 15th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $20.00 price target on shares of Abeona Therapeutics in a research report on Monday, August 18th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $19.50.

About Abeona Therapeutics

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.