Sei Investments Co. Boosts Stock Position in Abeona Therapeutics Inc. $ABEO

Sei Investments Co. increased its holdings in Abeona Therapeutics Inc. (NASDAQ:ABEO) by 142.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 172,460 shares of the biopharmaceutical company’s stock after purchasing an additional 101,307 shares during the period. Sei Investments Co. owned approximately 0.30% of Abeona Therapeutics worth $773,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ABEO. Dimensional Fund Advisors LP bought a new position in Abeona Therapeutics during the first quarter valued at $154,000. AIGH Capital Management LLC increased its holdings in shares of Abeona Therapeutics by 55.0% in the 1st quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company’s stock worth $13,888,000 after buying an additional 1,100,000 shares during the last quarter. Simplify Asset Management Inc. increased its holdings in shares of Abeona Therapeutics by 1.5% in the 1st quarter. Simplify Asset Management Inc. now owns 507,988 shares of the biopharmaceutical company’s stock worth $2,276,000 after buying an additional 7,646 shares during the last quarter. XTX Topco Ltd raised its position in shares of Abeona Therapeutics by 25.4% during the 4th quarter. XTX Topco Ltd now owns 49,338 shares of the biopharmaceutical company’s stock valued at $260,000 after buying an additional 9,979 shares in the last quarter. Finally, Tang Capital Management LLC purchased a new stake in shares of Abeona Therapeutics during the 4th quarter valued at about $5,270,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Insider Activity

In other news, insider Madhav Vasanthavada sold 12,606 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $6.96, for a total transaction of $87,737.76. Following the transaction, the insider owned 290,623 shares in the company, valued at $2,022,736.08. This represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Brendan M. O’malley sold 12,050 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $6.96, for a total transaction of $83,868.00. Following the transaction, the senior vice president owned 427,953 shares in the company, valued at $2,978,552.88. The trade was a 2.74% 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. Insiders sold 281,078 shares of company stock worth $1,709,923 over the last quarter. Company insiders own 7.10% of the company’s stock.

Analysts Set New Price Targets

ABEO has been the topic of several recent research reports. Weiss Ratings lowered Abeona Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 3rd. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Finally, Wall Street Zen upgraded shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $19.00.

Abeona Therapeutics Price Performance

ABEO opened at $6.34 on Friday. The company has a market capitalization of $361.32 million, a price-to-earnings ratio of 6.54 and a beta of 1.35. The company has a current ratio of 5.89, a quick ratio of 5.70 and a debt-to-equity ratio of 0.03. Abeona Therapeutics Inc. has a 12-month low of $4.00 and a 12-month high of $7.65. The business’s fifty day simple moving average is $6.30 and its 200-day simple moving average is $5.57.

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The firm had revenue of $11.38 million for the quarter, compared to analyst estimates of $12.24 million. On average, equities research analysts anticipate that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current fiscal 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.