Montanova Capital LLC Cuts Position in Abeona Therapeutics Inc. $ABEO

Montanova Capital LLC decreased its stake in Abeona Therapeutics Inc. (NASDAQ:ABEO) by 81.3% in the 2nd quarter, Holdings Channel reports. The firm owned 500,000 shares of the biopharmaceutical company’s stock after selling 2,176,000 shares during the quarter. Montanova Capital LLC’s holdings in Abeona Therapeutics were worth $3,090,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new position in Abeona Therapeutics during the second quarter worth about $27,000. Royal Bank of Canada lifted its position in shares of Abeona Therapeutics by 49.6% during the 1st quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 2,155 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Abeona Therapeutics during the 3rd quarter worth approximately $37,000. Truvestments Capital LLC boosted its stake in shares of Abeona Therapeutics by 191.4% during the 4th quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 6,770 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new stake in shares of Abeona Therapeutics in the 3rd quarter worth approximately $64,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ABEO. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Oppenheimer reissued an “outperform” rating and issued a $21.00 target price (down from $22.00) on shares of Abeona Therapeutics in a report on Friday, August 14th. Wall Street Zen upgraded Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings downgraded Abeona Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 17th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Abeona Therapeutics currently has a consensus rating of “Hold” and an average target price of $19.33.

Abeona Therapeutics Stock Down 1.2%

Shares of NASDAQ ABEO opened at $5.85 on Tuesday. The firm’s 50-day moving average is $6.41 and its two-hundred day moving average is $5.65. The company has a market capitalization of $334.50 million, a PE ratio of -5.37 and a beta of 1.35. Abeona Therapeutics Inc. has a 12-month low of $4.00 and a 12-month high of $7.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.63 and a quick ratio of 6.40.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The firm had revenue of $11.38 million for the quarter, compared to analyst estimates of $12.24 million. Equities analysts anticipate that Abeona Therapeutics Inc. will post -0.93 EPS for the current fiscal year.

Insider Activity at Abeona Therapeutics

In other news, CFO Joseph Walter Vazzano sold 39,067 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $5.36, for a total value of $209,399.12. Following the completion of the transaction, the chief financial officer directly owned 518,437 shares of the company’s stock, valued at $2,778,822.32. The trade was a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Christine Berni Silverstein sold 18,160 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $5.71, for a total value of $103,693.60. Following the completion of the sale, the director owned 119,562 shares in the company, valued at $682,699.02. This represents a 13.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 274,578 shares of company stock valued at $1,674,433 in the last ninety days. 7.10% of the stock is owned by insiders.

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.