BlackRock Inc. raised its holdings in shares of Abeona Therapeutics Inc (NASDAQ:ABEO) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,222,300 shares of the biopharmaceutical company’s stock after purchasing an additional 2,184 shares during the quarter. BlackRock Inc. owned 4.64% of Abeona Therapeutics worth $15,867,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of ABEO. Parkside Advisors LLC increased its position in Abeona Therapeutics by 16.0% in the 4th quarter. Parkside Advisors LLC now owns 14,530 shares of the biopharmaceutical company’s stock valued at $104,000 after acquiring an additional 2,000 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Abeona Therapeutics by 178.9% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,237 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 11,698 shares during the period. SG Americas Securities LLC acquired a new position in shares of Abeona Therapeutics during the 3rd quarter valued at $235,000. Man Group plc acquired a new position in shares of Abeona Therapeutics during the 3rd quarter valued at $267,000. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Abeona Therapeutics during the 4th quarter valued at $198,000. Hedge funds and other institutional investors own 67.72% of the company’s stock.
ABEO traded down $0.10 during trading on Thursday, reaching $7.77. 297,430 shares of the stock traded hands, compared to its average volume of 387,752. The stock has a market cap of $373.68 million, a price-to-earnings ratio of -6.53 and a beta of 1.92. Abeona Therapeutics Inc has a fifty-two week low of $6.26 and a fifty-two week high of $21.45.
Several equities analysts have recently issued reports on the company. Cantor Fitzgerald set a $29.00 price target on Abeona Therapeutics and gave the company a “buy” rating in a research report on Tuesday, March 19th. ValuEngine upgraded Abeona Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. BidaskClub upgraded Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Thursday. Zacks Investment Research upgraded Abeona Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Abeona Therapeutics in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $26.00.
In related news, Director Stephen B. Howell purchased 4,000 shares of Abeona Therapeutics stock in a transaction on Monday, April 8th. The stock was bought at an average price of $7.77 per share, with a total value of $31,080.00. Following the completion of the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at $46,620. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stefano Buono acquired 70,000 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was acquired at an average price of $7.80 per share, for a total transaction of $546,000.00. Following the completion of the purchase, the director now directly owns 20,980 shares of the company’s stock, valued at approximately $163,644. The disclosure for this purchase can be found here. 33.60% of the stock is owned by insiders.
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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.
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