Sphera Funds Management LTD. increased its stake in shares of Abeona Therapeutics Inc (NASDAQ:ABEO) by 51.0% in the third quarter, Holdings Channel reports. The fund owned 336,939 shares of the biopharmaceutical company’s stock after purchasing an additional 113,767 shares during the period. Sphera Funds Management LTD.’s holdings in Abeona Therapeutics were worth $4,313,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. United Services Automobile Association bought a new position in shares of Abeona Therapeutics during the second quarter worth $162,000. Parkside Advisors LLC bought a new position in shares of Abeona Therapeutics during the third quarter worth $160,000. Trexquant Investment LP bought a new position in shares of Abeona Therapeutics during the third quarter worth $163,000. SG Americas Securities LLC bought a new position in shares of Abeona Therapeutics during the third quarter worth $235,000. Finally, MetLife Investment Advisors LLC boosted its position in shares of Abeona Therapeutics by 57.8% during the second quarter. MetLife Investment Advisors LLC now owns 19,333 shares of the biopharmaceutical company’s stock worth $309,000 after acquiring an additional 7,085 shares during the last quarter. Hedge funds and other institutional investors own 72.32% of the company’s stock.
ABEO stock opened at $8.54 on Friday. Abeona Therapeutics Inc has a 52 week low of $6.94 and a 52 week high of $22.00. The firm has a market cap of $390.75 million, a price-to-earnings ratio of -12.94 and a beta of 1.81.
Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings data on Monday, November 12th. The biopharmaceutical company reported ($0.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.11). Abeona Therapeutics had a negative net margin of 843.14% and a negative return on equity of 27.69%. The business had revenue of $1.71 million for the quarter, compared to the consensus estimate of $1.02 million. On average, equities research analysts forecast that Abeona Therapeutics Inc will post -0.98 EPS for the current fiscal year.
ABEO has been the subject of a number of research reports. Zacks Investment Research lowered shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Abeona Therapeutics in a research report on Thursday, September 13th. Maxim Group restated a “buy” rating and set a $35.00 target price on shares of Abeona Therapeutics in a research report on Friday, August 10th. ValuEngine upgraded shares of Abeona Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Cantor Fitzgerald set a $36.00 price objective on shares of Abeona Therapeutics and gave the company a “buy” rating in a research report on Monday, November 12th. Two research analysts have rated the stock with a sell rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $26.78.
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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.
See Also: Retained Earnings
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