Short Interest in Abeona Therapeutics Inc (NASDAQ:ABEO) Increases By 24.9%

Abeona Therapeutics Inc (NASDAQ:ABEO - Get Free Report) saw a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 2,760,000 shares, an increase of 24.9% from the March 31st total of 2,210,000 shares. Currently, 6.4% of the company's shares are sold short. Based on an average daily volume of 556,500 shares, the days-to-cover ratio is currently 5.0 days.

Insider Buying and Selling at Abeona Therapeutics

In other news, CEO Vishwas Seshadri sold 25,000 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $4.78, for a total transaction 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 trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP bought a new stake in shares of Abeona Therapeutics during the 4th quarter worth approximately $520,000. Trexquant Investment LP bought a new stake in Abeona Therapeutics in the fourth quarter valued at approximately $382,000. Jane Street Group LLC bought a new position in Abeona Therapeutics during the third quarter worth $84,000. JPMorgan Chase & Co. grew its stake in Abeona Therapeutics by 74.2% during 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 period. Finally, Geode Capital Management LLC increased its stake in shares of Abeona Therapeutics by 21.7% in the 3rd quarter. Geode Capital Management LLC now owns 465,317 shares of the biopharmaceutical company's stock valued at $2,942,000 after acquiring an additional 83,050 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

Abeona Therapeutics Trading Down 8.5 %

Shares of ABEO stock traded down $0.49 on Wednesday, hitting $5.27. The stock had a trading volume of 1,690,658 shares, compared to its average volume of 568,403. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average price of $5.12 and a two-hundred day moving average price of $5.60. Abeona Therapeutics has a twelve month low of $3.93 and a twelve month high of $7.32. The firm has a market cap of $257.08 million, a P/E ratio of -1.96 and a beta of 1.68.

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

Wall Street Analyst Weigh In

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

Abeona Therapeutics Company 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.