683 Capital Management LLC Raises Stock Position in Abeona Therapeutics Inc (NASDAQ:ABEO)

683 Capital Management LLC raised its position in Abeona Therapeutics Inc (NASDAQ:ABEO - Free Report) by 17.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 791,845 shares of the biopharmaceutical company's stock after purchasing an additional 116,845 shares during the period. 683 Capital Management LLC owned 1.82% of Abeona Therapeutics worth $4,411,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ABEO. Northern Trust Corp boosted its stake in Abeona Therapeutics by 6.6% during the fourth quarter. Northern Trust Corp now owns 184,929 shares of the biopharmaceutical company's stock valued at $1,030,000 after buying an additional 11,478 shares during the period. Jane Street Group LLC bought a new stake in shares of Abeona Therapeutics during the 3rd quarter valued at about $84,000. Oxford Asset Management LLP purchased a new position in shares of Abeona Therapeutics during the fourth quarter worth about $118,000. JPMorgan Chase & Co. increased its position in shares of Abeona Therapeutics by 74.2% in the third quarter. JPMorgan Chase & Co. now owns 67,138 shares of the biopharmaceutical company's stock worth $424,000 after purchasing an additional 28,606 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Abeona Therapeutics in the fourth quarter valued at approximately $341,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ABEO shares. StockNews.com raised shares of Abeona Therapeutics from a "sell" rating to a "hold" rating in a report on Monday, March 24th. Oppenheimer initiated coverage on shares of Abeona Therapeutics in a report on Wednesday, March 5th. They issued an "outperform" rating and a $16.00 price target on the stock. Finally, HC Wainwright lifted their price target on Abeona Therapeutics from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.75.

Abeona Therapeutics Stock Down 5.7 %

Abeona Therapeutics stock traded down $0.33 during trading hours on Wednesday, hitting $5.43. The stock had a trading volume of 733,109 shares, compared to its average volume of 566,013. The stock has a market capitalization of $265.03 million, a P/E ratio of -2.01 and a beta of 1.68. The stock's 50-day moving average price is $5.12 and its 200-day moving average price is $5.60. Abeona Therapeutics Inc has a 12-month low of $3.93 and a 12-month high of $7.32. The company has a quick ratio of 6.12, a current ratio of 6.12 and a debt-to-equity ratio of 0.31.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.43) by $0.19. Equities research analysts anticipate that Abeona Therapeutics Inc will post -1.16 EPS for the current fiscal year.

Insider Buying and Selling at Abeona Therapeutics

In other news, CEO Vishwas Seshadri sold 25,000 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $4.78, for a total value of $119,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,355,322 shares in the company, valued at $6,478,439.16. This represents a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 5.40% of the stock is owned by corporate insiders.

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.