Abeona Therapeutics Inc. $ABEO Shares Sold by Pale Fire Capital SE

Pale Fire Capital SE lessened its holdings in shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) by 60.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 69,845 shares of the biopharmaceutical company’s stock after selling 104,860 shares during the period. Pale Fire Capital SE’s holdings in Abeona Therapeutics were worth $313,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ABEO. Legato Capital Management LLC lifted its stake in Abeona Therapeutics by 21.0% during the fourth quarter. Legato Capital Management LLC now owns 13,180 shares of the biopharmaceutical company’s stock worth $69,000 after purchasing an additional 2,290 shares during the last quarter. Deutsche Bank AG increased its stake in Abeona Therapeutics by 6.2% in the fourth 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 during the last quarter. LPL Financial LLC increased its stake in Abeona Therapeutics by 5.3% in the fourth quarter. LPL Financial LLC now owns 62,873 shares of the biopharmaceutical company’s stock valued at $331,000 after purchasing an additional 3,165 shares during the last quarter. Riverwater Partners LLC raised its holdings in Abeona Therapeutics by 22.2% during the fourth quarter. Riverwater Partners LLC now owns 19,375 shares of the biopharmaceutical company’s stock worth $102,000 after purchasing an additional 3,518 shares in the last quarter. Finally, Intech Investment Management LLC raised its holdings in Abeona Therapeutics by 19.6% during the third quarter. Intech Investment Management LLC now owns 25,176 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 4,127 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Vishwas Seshadri sold 67,971 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $6.96, for a total transaction of $473,078.16. Following the completion of the sale, the chief executive officer owned 1,306,108 shares in the company, valued at $9,090,511.68. This represents a 4.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Eric Crombez sold 26,143 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $5.53, for a total transaction of $144,570.79. Following the sale, the director owned 37,313 shares of the company’s stock, valued at approximately $206,340.89. This represents a 41.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 311,291 shares of company stock worth $1,877,908. Corporate insiders own 7.10% of the company’s stock.

Abeona Therapeutics Trading Down 5.2%

ABEO opened at $6.05 on Friday. The firm has a market cap of $344.79 million, a price-to-earnings ratio of 6.24 and a beta of 1.34. Abeona Therapeutics Inc. has a 52 week low of $4.00 and a 52 week high of $7.54. The business’s 50 day moving average is $5.98 and its two-hundred day moving average is $5.42. The company has a quick ratio of 5.70, a current ratio of 5.89 and a debt-to-equity ratio of 0.03.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates 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, research analysts predict that Abeona Therapeutics Inc. will post -0.79 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Abeona Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, July 18th. HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Finally, Weiss Ratings upgraded shares of Abeona Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Abeona Therapeutics presently has an average rating of “Moderate Buy” and a consensus 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.