Nan Fung Trinity HK Ltd. Acquires 425,770 Shares of Abeona Therapeutics Inc. $ABEO

Nan Fung Trinity HK Ltd. grew its holdings in Abeona Therapeutics Inc. (NASDAQ:ABEO) by 336.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 552,270 shares of the biopharmaceutical company’s stock after purchasing an additional 425,770 shares during the period. Nan Fung Trinity HK Ltd.’s holdings in Abeona Therapeutics were worth $2,899,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. AIGH Capital Management LLC purchased a new stake in shares of Abeona Therapeutics during the third quarter valued at $15,225,000. AWM Investment Company Inc. purchased a new position in Abeona Therapeutics in the 2nd quarter worth about $9,184,000. Simplify Asset Management Inc. purchased a new position in Abeona Therapeutics in the 3rd quarter worth about $1,451,000. Bank of New York Mellon Corp bought a new stake in Abeona Therapeutics during the 2nd quarter valued at about $1,262,000. Finally, Sei Investments Co. lifted its holdings in Abeona Therapeutics by 142.4% during the 1st quarter. Sei Investments Co. now owns 172,460 shares of the biopharmaceutical company’s stock valued at $773,000 after buying an additional 101,307 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Weiss Ratings cut shares of Abeona Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday. Roth Capital started coverage on shares of Abeona Therapeutics in a research note on Thursday, September 17th. They issued a “buy” rating and a $17.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating on shares of Abeona Therapeutics in a research report on Friday, September 25th. Wall Street Zen raised shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, Cantor Fitzgerald lifted their price target on shares of Abeona Therapeutics from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, September 18th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Abeona Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Abeona Therapeutics Trading Down 0.4%

Shares of Abeona Therapeutics stock opened at $2.29 on Friday. The stock’s fifty day moving average price is $4.77 and its 200-day moving average price is $5.40. The firm has a market cap of $130.87 million, a P/E ratio of -2.14 and a beta of 1.50. Abeona Therapeutics Inc. has a 12 month low of $2.22 and a 12 month high of $7.65.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings data on Monday, November 9th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.09. Abeona Therapeutics had a negative net margin of 160.30% and a negative return on equity of 44.82%. The company had revenue of $13.49 million during the quarter, compared to analyst estimates of $14.82 million. Analysts forecast that Abeona Therapeutics Inc. will post -1.00 earnings per share for the current year.

Insider Buying and Selling at Abeona Therapeutics

In other news, Director Mark Alvino sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $5.86, for a total value of $87,900.00. Following the completion of the sale, the director owned 62,065 shares in the company, valued at approximately $363,700.90. The trade was a 19.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Brendan O’Malley sold 6,727 shares of the business’s stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $5.16, for a total transaction of $34,711.32. Following the completion of the sale, the senior vice president owned 421,226 shares of the company’s stock, valued at approximately $2,173,526.16. This represents a 1.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 55,428 shares of company stock worth $296,508. 7.10% of the stock is currently owned by company insiders.

Abeona Therapeutics Profile

Abeona Therapeutics, Inc. is a biotechnology company focused on developing cell and gene therapies for serious and rare diseases. Its work includes treatments designed to address the underlying genetic causes of disease. The company’s lead product, ZEVASKYN (prademagene zamikeracel), is an autologous gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa, a rare inherited skin disorder. Made from a patient’s skin cells, the therapy uses genetic modification to help cells produce type VII collagen and is applied to wounds.