Los Angeles Capital Management LLC Makes New Investment in Abeona Therapeutics Inc. $ABEO

Los Angeles Capital Management LLC purchased a new position in Abeona Therapeutics Inc. (NASDAQ:ABEO) in the second quarter, Holdings Channel reports. The institutional investor purchased 268,148 shares of the biopharmaceutical company’s stock, valued at approximately $1,523,000.

Several other hedge funds also recently made changes to their positions in ABEO. Y Intercept Hong Kong Ltd bought a new stake in shares of Abeona Therapeutics during the 2nd quarter valued at $581,000. Newtyn Management LLC grew its holdings in Abeona Therapeutics by 26.3% during the 1st quarter. Newtyn Management LLC now owns 480,000 shares of the biopharmaceutical company’s stock valued at $2,285,000 after buying an additional 100,000 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Abeona Therapeutics by 49.6% during the first quarter. Goldman Sachs Group Inc. now owns 200,450 shares of the biopharmaceutical company’s stock valued at $954,000 after buying an additional 66,422 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Abeona Therapeutics by 64.1% in the first quarter. Wellington Management Group LLP now owns 153,121 shares of the biopharmaceutical company’s stock worth $729,000 after buying an additional 59,832 shares in the last quarter. Finally, Trexquant Investment LP boosted its position in shares of Abeona Therapeutics by 74.1% in the first quarter. Trexquant Investment LP now owns 119,274 shares of the biopharmaceutical company’s stock valued at $568,000 after acquiring an additional 50,758 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a report on Monday, October 13th. Weiss Ratings lowered shares of Abeona Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 24th. Finally, Oppenheimer upped their price target on shares of Abeona Therapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, August 15th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Insiders Place Their Bets

In other news, CFO Joseph Walter Vazzano sold 9,035 shares of the company’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $5.39, for a total value of $48,698.65. Following the completion of the transaction, the chief financial officer directly owned 453,631 shares in the company, valued at approximately $2,445,071.09. This represents a 1.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brendan M. O’malley sold 9,366 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $5.39, for a total value of $50,482.74. Following the transaction, the senior vice president owned 350,763 shares in the company, valued at $1,890,612.57. This trade represents a 2.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 63,612 shares of company stock valued at $339,171 over the last 90 days. Insiders own 6.90% of the company’s stock.

Abeona Therapeutics Trading Down 1.4%

Shares of Abeona Therapeutics stock opened at $4.17 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.73 and a quick ratio of 6.65. Abeona Therapeutics Inc. has a 1 year low of $3.93 and a 1 year high of $7.54. The firm has a market cap of $213.83 million, a PE ratio of 5.96 and a beta of 1.45. The company has a 50 day simple moving average of $5.47 and a two-hundred day simple moving average of $6.00.

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings data on Thursday, August 14th. The biopharmaceutical company reported $1.71 earnings per share for the quarter, beating the consensus estimate of ($0.39) by $2.10. The company had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $21.71 million. Analysts expect that Abeona Therapeutics Inc. will post -1.16 earnings per share for the current fiscal year.

Abeona Therapeutics Company Profile

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.