Abeona Therapeutics Inc. $ABEO Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in Abeona Therapeutics Inc. (NASDAQ:ABEO) by 66.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 282,259 shares of the biopharmaceutical company’s stock after selling 548,873 shares during the quarter. JPMorgan Chase & Co.’s holdings in Abeona Therapeutics were worth $1,490,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Intech Investment Management LLC grew its position in shares of Abeona Therapeutics by 19.6% in the third quarter. Intech Investment Management LLC now owns 25,176 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 4,127 shares during the last quarter. Creative Planning grew its position in shares of Abeona Therapeutics by 43.0% in the second 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. Legal & General Group Plc acquired a new stake in shares of Abeona Therapeutics in the second quarter valued at approximately $27,000. Riverwater Partners LLC grew its position in shares of Abeona Therapeutics by 45.6% in the third quarter. Riverwater Partners LLC now owns 15,857 shares of the biopharmaceutical company’s stock valued at $84,000 after purchasing an additional 4,963 shares during the last quarter. Finally, Simplify Asset Management Inc. grew its position in shares of Abeona Therapeutics by 1.2% in the third quarter. Simplify Asset Management Inc. now owns 565,009 shares of the biopharmaceutical company’s stock valued at $2,983,000 after purchasing an additional 6,425 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on ABEO. Weiss Ratings reiterated a “sell (d+)” rating on shares of Abeona Therapeutics in a research report on Wednesday, January 21st. Stifel Nicolaus set a $17.00 price target on shares of Abeona Therapeutics in a research report on Tuesday, March 17th. HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Abeona Therapeutics in a research note on Thursday, March 19th. Finally, Oppenheimer reissued an “outperform” rating on shares of Abeona Therapeutics in a research note on Monday, March 9th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Insiders Place Their Bets

In related news, CEO Vishwas Seshadri sold 69,832 shares of the firm’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $5.33, for a total transaction of $372,204.56. Following the completion of the sale, the chief executive officer directly owned 1,460,408 shares of the company’s stock, valued at approximately $7,783,974.64. This trade represents a 4.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joseph Walter Vazzano sold 18,666 shares of the firm’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $5.33, for a total transaction of $99,489.78. Following the sale, the chief financial officer directly owned 568,560 shares of the company’s stock, valued at approximately $3,030,424.80. The trade was a 3.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 184,605 shares of company stock worth $968,550. 6.90% of the stock is owned by company insiders.

Abeona Therapeutics Stock Performance

Shares of ABEO stock opened at $4.87 on Thursday. The company’s fifty day simple moving average is $4.90 and its 200-day simple moving average is $5.03. Abeona Therapeutics Inc. has a 52 week low of $3.93 and a 52 week high of $7.54. The company has a current ratio of 6.93, a quick ratio of 6.74 and a debt-to-equity ratio of 0.05. The company has a market cap of $277.83 million, a PE ratio of 4.73 and a beta of 1.22.

Abeona Therapeutics (NASDAQ:ABEO) last issued its earnings results on Tuesday, March 17th. The biopharmaceutical company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. The business had revenue of $3.00 million during the quarter, compared to analysts’ expectations of $5.65 million. As a group, equities research analysts anticipate that Abeona Therapeutics Inc. will post -1.16 EPS for the current year.

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.