Nan Fung Trinity HK Ltd. Purchases 396,000 Shares of Abeona Therapeutics Inc. $ABEO

Nan Fung Trinity HK Ltd. grew its position in Abeona Therapeutics Inc. (NASDAQ:ABEO) by 70.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 956,770 shares of the biopharmaceutical company’s stock after buying an additional 396,000 shares during the quarter. Nan Fung Trinity HK Ltd.’s holdings in Abeona Therapeutics were worth $5,042,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Aberdeen Group plc bought a new position in shares of Abeona Therapeutics in the fourth quarter valued at approximately $3,248,000. AIGH Capital Management LLC bought a new position in shares of Abeona Therapeutics in the fourth quarter valued at approximately $10,540,000. Legato Capital Management LLC bought a new position in shares of Abeona Therapeutics in the third quarter valued at approximately $57,000. Riverwater Partners LLC raised its stake in shares of Abeona Therapeutics by 45.6% in the third quarter. Riverwater Partners LLC now owns 15,857 shares of the biopharmaceutical company’s stock valued at $84,000 after acquiring an additional 4,963 shares during the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of Abeona Therapeutics by 19.6% in the third quarter. Intech Investment Management LLC now owns 25,176 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 4,127 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Abeona Therapeutics Price Performance

Shares of ABEO stock opened at $5.90 on Friday. Abeona Therapeutics Inc. has a 1 year low of $4.00 and a 1 year high of $7.54. The firm’s 50 day moving average is $5.02 and its 200-day moving average is $5.03. The firm has a market capitalization of $335.59 million, a price-to-earnings ratio of 5.73 and a beta of 1.35. The company has a current ratio of 6.93, a quick ratio of 6.74 and a debt-to-equity ratio of 0.05.

Abeona Therapeutics (NASDAQ:ABEO) last announced its earnings results on Tuesday, March 17th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The company had revenue of $3.00 million for the quarter, compared to analyst estimates of $5.65 million. Sell-side analysts forecast that Abeona Therapeutics Inc. will post -0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ABEO. Oppenheimer reiterated an “outperform” rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Abeona Therapeutics in a research report on Wednesday, January 21st. Stifel Nicolaus set a $17.00 target price on shares of Abeona Therapeutics in a research report on Tuesday, March 17th. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a research report on Thursday, March 19th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.00.

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.