Nan Fung Trinity HK Ltd. Invests $3.19 Million in Abeona Therapeutics Inc. $ABEO

Nan Fung Trinity HK Ltd. purchased a new stake in shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 560,770 shares of the biopharmaceutical company’s stock, valued at approximately $3,185,000. Nan Fung Trinity HK Ltd. owned approximately 1.10% of Abeona Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABEO. Simplify Asset Management Inc. grew its position in shares of Abeona Therapeutics by 36.7% in the second quarter. Simplify Asset Management Inc. now owns 558,584 shares of the biopharmaceutical company’s stock valued at $3,173,000 after purchasing an additional 150,000 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Abeona Therapeutics in the 2nd quarter valued at $1,523,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Abeona Therapeutics during the 2nd quarter valued at $581,000. Riverwater Partners LLC bought a new position in shares of Abeona Therapeutics in the second quarter worth $62,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Abeona Therapeutics by 49.6% in the first quarter. Goldman Sachs Group Inc. now owns 200,450 shares of the biopharmaceutical company’s stock worth $954,000 after buying an additional 66,422 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Insider Buying and Selling

In other news, CEO Vishwas Seshadri sold 25,000 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $5.24, for a total value of $131,000.00. Following the sale, the chief executive officer directly owned 1,190,067 shares of the company’s stock, valued at $6,235,951.08. This represents a 2.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brendan M. O’malley sold 9,366 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 $50,482.74. Following the completion of the transaction, the senior vice president owned 350,763 shares of the company’s stock, valued at approximately $1,890,612.57. The trade was a 2.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 63,612 shares of company stock valued at $339,171 over the last ninety days. Company insiders own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

Abeona Therapeutics Trading Down 1.4%

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

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

About Abeona Therapeutics

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.