Police & Firemen s Retirement System of New Jersey Makes New $63,000 Investment in Abeona Therapeutics Inc. $ABEO

Police & Firemen s Retirement System of New Jersey purchased a new stake in Abeona Therapeutics Inc. (NASDAQ:ABEO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,005 shares of the biopharmaceutical company’s stock, valued at approximately $63,000.

Other hedge funds also recently modified their holdings of the company. Riverwater Partners LLC bought a new stake in Abeona Therapeutics during the 2nd quarter worth $62,000. OMERS ADMINISTRATION Corp grew its holdings in shares of Abeona Therapeutics by 11.0% during the first quarter. OMERS ADMINISTRATION Corp now owns 72,200 shares of the biopharmaceutical company’s stock worth $344,000 after purchasing an additional 7,155 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Abeona Therapeutics in the second quarter valued at approximately $581,000. Trexquant Investment LP raised its holdings in Abeona Therapeutics by 74.1% in the 1st quarter. Trexquant Investment LP now owns 119,274 shares of the biopharmaceutical company’s stock valued at $568,000 after buying an additional 50,758 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Abeona Therapeutics by 64.1% in the 1st quarter. Wellington Management Group LLP now owns 153,121 shares of the biopharmaceutical company’s stock valued at $729,000 after buying an additional 59,832 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Oppenheimer upped their price target on shares of Abeona Therapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, August 15th. Wall Street Zen cut shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a report on Monday, October 13th. Finally, Weiss Ratings downgraded Abeona Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 24th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.00.

Abeona Therapeutics Trading Down 1.7%

ABEO opened at $5.06 on Monday. Abeona Therapeutics Inc. has a twelve month low of $3.93 and a twelve month high of $7.54. The company has a quick ratio of 6.65, a current ratio of 6.73 and a debt-to-equity ratio of 0.09. The company has a fifty day moving average of $5.05 and a 200-day moving average of $5.89. The stock has a market cap of $274.21 million, a PE ratio of 7.23 and a beta of 1.45.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.17. On average, sell-side analysts predict that Abeona Therapeutics Inc. will post -1.16 EPS for the current year.

Insider Buying and Selling

In related news, Director Mark Alvino sold 15,000 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $4.74, for a total transaction of $71,100.00. Following the completion of the sale, the director owned 62,252 shares in the company, valued at approximately $295,074.48. This represents a 19.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Brendan M. O’malley sold 9,366 shares of the firm’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $5.39, for a total value of $50,482.74. Following the transaction, the senior vice president owned 350,763 shares in the company, valued at approximately $1,890,612.57. This trade represents a 2.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 78,612 shares of company stock valued at $410,271. 6.90% of the stock is owned by company insiders.

About Abeona Therapeutics

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.