Pale Fire Capital SE Trims Stock Position in Abeona Therapeutics Inc. $ABEO

Pale Fire Capital SE decreased its position in Abeona Therapeutics Inc. (NASDAQ:ABEO) by 60.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,845 shares of the biopharmaceutical company’s stock after selling 104,860 shares during the period. Pale Fire Capital SE owned 0.12% of Abeona Therapeutics worth $313,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ABEO. Legal & General Group Plc purchased a new position in Abeona Therapeutics in the second quarter worth approximately $27,000. Russell Investments Group Ltd. purchased a new stake in shares of Abeona Therapeutics in the 3rd quarter valued at $37,000. Truvestments Capital LLC raised its holdings in shares of Abeona Therapeutics by 191.4% in the 4th quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 6,770 shares during the period. SG Americas Securities LLC acquired a new position in Abeona Therapeutics during the 4th quarter worth about $57,000. Finally, Man Group plc purchased a new position in Abeona Therapeutics during the 2nd quarter valued at about $67,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Weiss Ratings raised Abeona Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Wall Street Zen cut shares of Abeona Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Insider Buying and Selling

In other news, CEO Vishwas Seshadri sold 67,971 shares of Abeona Therapeutics stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $6.96, for a total value of $473,078.16. Following the completion of the transaction, the chief executive officer owned 1,306,108 shares in the company, valued at approximately $9,090,511.68. This trade represents a 4.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Leila Alland sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $5.92, for a total transaction of $65,120.00. Following the sale, the director owned 162,614 shares in the company, valued at $962,674.88. The trade was a 6.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 311,291 shares of company stock worth $1,877,908 over the last ninety days. Company insiders own 7.10% of the company’s stock.

Abeona Therapeutics Stock Down 5.2%

Abeona Therapeutics stock opened at $6.05 on Friday. The firm has a market capitalization of $344.79 million, a P/E ratio of 6.24 and a beta of 1.34. 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 twelve month low of $4.00 and a twelve month high of $7.54. The stock’s fifty day simple moving average is $5.98 and its 200-day simple moving average is $5.42.

Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. The company had revenue of $8.72 million during the quarter, compared to analysts’ expectations of $4.57 million. As a group, equities analysts expect that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current fiscal year.

Abeona Therapeutics Company Profile

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.