Nan Fung Trinity HK Ltd. Acquires Shares of 560,770 Abeona Therapeutics Inc. $ABEO

Nan Fung Trinity HK Ltd. bought a new position in Abeona Therapeutics Inc. (NASDAQ:ABEO) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 560,770 shares of the biopharmaceutical company’s stock, valued at approximately $3,185,000.

A number of other institutional investors have also recently made changes to their positions in the company. Riverwater Partners LLC bought a new stake in shares of Abeona Therapeutics during the second quarter valued at approximately $62,000. OMERS ADMINISTRATION Corp boosted its stake in Abeona Therapeutics by 11.0% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 72,200 shares of the biopharmaceutical company’s stock valued at $344,000 after purchasing an additional 7,155 shares during the last quarter. Trexquant Investment LP boosted its stake in Abeona Therapeutics by 74.1% during the 1st quarter. Trexquant Investment LP now owns 119,274 shares of the biopharmaceutical company’s stock valued at $568,000 after purchasing an additional 50,758 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Abeona Therapeutics during the 2nd quarter valued at about $581,000. Finally, Wellington Management Group LLP grew its stake 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 acquiring an additional 59,832 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Abeona Therapeutics Price Performance

NASDAQ ABEO opened at $4.17 on Wednesday. The company’s 50 day moving average is $5.47 and its two-hundred day moving average is $6.00. The company has a current ratio of 6.73, a quick ratio of 6.65 and a debt-to-equity ratio of 0.09. The stock has a market cap of $213.83 million, a price-to-earnings ratio of 5.96 and a beta of 1.45. Abeona Therapeutics Inc. has a 12 month low of $3.93 and a 12 month high of $7.54.

Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Thursday, August 14th. The biopharmaceutical company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $2.10. The firm had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $21.71 million. As a group, research analysts anticipate that Abeona Therapeutics Inc. will post -1.16 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on ABEO. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Abeona Therapeutics in a report on Monday, October 13th. Oppenheimer increased their price target on Abeona Therapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, August 15th. Finally, Weiss Ratings lowered Abeona Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 24th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Insider Activity

In related news, CFO Joseph Walter Vazzano sold 9,035 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $5.39, for a total transaction of $48,698.65. Following the completion of the sale, the chief financial officer owned 453,631 shares in the company, valued at approximately $2,445,071.09. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vishwas Seshadri sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $5.24, for a total value of $131,000.00. Following the completion of the transaction, the chief executive officer owned 1,190,067 shares of the company’s stock, valued at $6,235,951.08. The trade was a 2.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 63,612 shares of company stock worth $339,171 over the last ninety days. Corporate insiders own 6.90% of the company’s stock.

Abeona Therapeutics 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.