Abeona Therapeutics Inc. $ABEO Shares Purchased by AIGH Capital Management LLC

AIGH Capital Management LLC boosted its stake in shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) by 55.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 3,100,000 shares of the biopharmaceutical company’s stock after purchasing an additional 1,100,000 shares during the quarter. Abeona Therapeutics accounts for 1.9% of AIGH Capital Management LLC’s investment portfolio, making the stock its 14th largest position. AIGH Capital Management LLC owned approximately 0.05% of Abeona Therapeutics worth $13,888,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Tang Capital Management LLC acquired a new position in shares of Abeona Therapeutics during the 4th quarter valued at about $5,270,000. Geode Capital Management LLC increased its position in Abeona Therapeutics by 129.1% during the second quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock worth $6,282,000 after purchasing an additional 623,243 shares during the last quarter. Aberdeen Group plc acquired a new stake in Abeona Therapeutics during the fourth quarter worth about $3,248,000. Cable Car Capital LP purchased a new position in Abeona Therapeutics during the third quarter worth about $3,168,000. Finally, JPMorgan Chase & Co. raised its stake in Abeona Therapeutics by 255.6% during the second quarter. JPMorgan Chase & Co. now owns 831,132 shares of the biopharmaceutical company’s stock worth $4,721,000 after purchasing an additional 597,373 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Leila Alland sold 11,000 shares of Abeona Therapeutics stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $5.92, for a total value of $65,120.00. Following the completion of the sale, the director owned 162,614 shares in the company, valued at approximately $962,674.88. This trade represents a 6.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Brendan M. O’malley sold 6,305 shares of Abeona Therapeutics stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $5.30, for a total transaction of $33,416.50. Following the completion of the sale, the senior vice president owned 440,003 shares of the company’s stock, valued at $2,332,015.90. This trade represents a 1.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 193,784 shares of company stock worth $1,060,060. Insiders own 7.10% of the company’s stock.

Abeona Therapeutics Stock Up 3.8%

Shares of NASDAQ:ABEO opened at $6.80 on Thursday. The company has a market capitalization of $387.53 million, a price-to-earnings ratio of 7.01 and a beta of 1.34. Abeona Therapeutics Inc. has a 12-month low of $4.00 and a 12-month high of $7.54. The business has a 50-day moving average price of $5.71 and a 200 day moving average price of $5.30. The company has a current ratio of 5.89, a quick ratio of 5.70 and a debt-to-equity ratio of 0.03.

Abeona Therapeutics (NASDAQ:ABEO) last posted its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. The company had revenue of $8.72 million during the quarter, compared to analyst estimates of $4.57 million. Sell-side analysts expect that Abeona Therapeutics Inc. will post -0.79 EPS for the current year.

Analyst Upgrades and Downgrades

ABEO has been the subject of several analyst reports. Wall Street Zen raised shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Monday, June 1st. Weiss Ratings raised shares of Abeona Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Stifel Nicolaus set a $17.00 price objective on Abeona Therapeutics in a report on Tuesday, March 17th. Finally, HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a research report on Thursday, May 28th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.