Western Standard LLC Has $6.60 Million Stock Position in Abeona Therapeutics Inc. $ABEO

Western Standard LLC trimmed its position in Abeona Therapeutics Inc. (NASDAQ:ABEO) by 40.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,249,957 shares of the biopharmaceutical company’s stock after selling 841,641 shares during the quarter. Abeona Therapeutics accounts for 2.0% of Western Standard LLC’s portfolio, making the stock its 11th largest position. Western Standard LLC’s holdings in Abeona Therapeutics were worth $6,600,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Ameritas Investment Partners Inc. acquired a new stake in Abeona Therapeutics during the 2nd quarter valued at $25,000. Legal & General Group Plc bought a new stake in Abeona Therapeutics during the 2nd quarter worth approximately $27,000. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Abeona Therapeutics during the second quarter worth about $63,000. Man Group plc bought a new position in shares of Abeona Therapeutics in the 2nd quarter valued at about $67,000. Finally, Creative Planning lifted its stake in Abeona Therapeutics by 43.0% in the 2nd quarter. Creative Planning now owns 14,310 shares of the biopharmaceutical company’s stock valued at $81,000 after purchasing an additional 4,305 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen lowered shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (d+)” rating on shares of Abeona Therapeutics in a report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Abeona Therapeutics Stock Performance

ABEO opened at $5.20 on Friday. Abeona Therapeutics Inc. has a 12-month low of $3.93 and a 12-month high of $7.54. The company has a market cap of $281.79 million, a price-to-earnings ratio of 4.23 and a beta of 1.18. The company has a current ratio of 9.74, a quick ratio of 9.53 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $5.20 and its 200 day moving average is $5.43.

Insider Transactions at Abeona Therapeutics

In related news, Director Eric Crombez sold 16,284 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $5.09, for a total value of $82,885.56. Following the transaction, the director directly owned 63,456 shares of the company’s stock, valued at approximately $322,991.04. This trade represents a 20.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christine Berni Silverstein sold 20,070 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $5.09, for a total transaction of $102,156.30. Following the sale, the director directly owned 137,722 shares of the company’s stock, valued at approximately $701,004.98. This trade represents a 12.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 209,605 shares of company stock worth $1,101,300 over the last three months. 6.90% of the stock is currently owned by insiders.

Abeona Therapeutics 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.