Abeona Therapeutics Inc. $ABEO Shares Sold by Western Standard LLC

Western Standard LLC lowered its holdings in Abeona Therapeutics Inc. (NASDAQ:ABEO) by 40.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,249,957 shares of the biopharmaceutical company’s stock after selling 841,641 shares during the quarter. Abeona Therapeutics comprises 2.0% of Western Standard LLC’s investment portfolio, making the stock its 11th biggest holding. Western Standard LLC owned about 2.44% of Abeona Therapeutics worth $6,600,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 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. Creative Planning grew its stake in shares of Abeona Therapeutics by 43.0% in the 2nd quarter. Creative Planning now owns 14,310 shares of the biopharmaceutical company’s stock valued at $81,000 after purchasing an additional 4,305 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Abeona Therapeutics in the second quarter valued at approximately $25,000. Legal & General Group Plc purchased a new stake in shares of Abeona Therapeutics during the second quarter worth approximately $27,000. Finally, Riverwater Partners LLC raised its stake in shares of Abeona Therapeutics by 45.6% during the third quarter. Riverwater Partners LLC now owns 15,857 shares of the biopharmaceutical company’s stock worth $84,000 after purchasing an additional 4,963 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Insider Transactions at Abeona Therapeutics

In other Abeona Therapeutics news, insider Madhav Vasanthavada sold 12,610 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $5.29, for a total value of $66,706.90. Following the completion of the sale, the insider directly owned 318,619 shares of the company’s stock, valued at approximately $1,685,494.51. This represents a 3.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric Crombez sold 16,284 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $5.09, for a total value of $82,885.56. Following the completion of the transaction, the director directly owned 63,456 shares in the company, valued at $322,991.04. This represents a 20.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 209,605 shares of company stock valued at $1,101,300 in the last quarter. 6.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on ABEO shares. Wall Street Zen cut Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (d+)” rating on shares of Abeona Therapeutics in a report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Abeona Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Abeona Therapeutics Stock Down 1.9%

NASDAQ:ABEO opened at $5.20 on Friday. Abeona Therapeutics Inc. has a 52 week low of $3.93 and a 52 week high of $7.54. The firm has a market capitalization of $281.79 million, a PE ratio of 4.23 and a beta of 1.18. The company has a current ratio of 9.74, a quick ratio of 9.53 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average of $5.20 and a 200-day moving average of $5.43.

About Abeona Therapeutics

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.