Traders Buy High Volume of Abeona Therapeutics Call Options (NASDAQ:ABEO)

Abeona Therapeutics Inc (NASDAQ:ABEO - Get Free Report) was the target of some unusual options trading on Monday. Investors acquired 5,499 call options on the stock. This represents an increase of approximately 657% compared to the average daily volume of 726 call options.

Analyst Ratings Changes

Several brokerages have recently weighed in on ABEO. Oppenheimer started coverage on Abeona Therapeutics in a report on Wednesday, March 5th. They set an "outperform" rating and a $16.00 price objective on the stock. HC Wainwright lifted their price objective on Abeona Therapeutics from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Finally, StockNews.com raised Abeona Therapeutics from a "sell" rating to a "hold" rating in a research note on Monday, March 24th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $18.75.

Abeona Therapeutics Stock Up 7.4%

ABEO stock traded up $0.40 during mid-day trading on Thursday, reaching $5.79. 1,893,036 shares of the company traded hands, compared to its average volume of 597,801. The stock has a market cap of $282.55 million, a price-to-earnings ratio of -2.15 and a beta of 1.68. 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 has a fifty-two week low of $3.93 and a fifty-two week high of $7.32. The firm's 50 day moving average price is $5.15 and its 200 day moving average price is $5.57.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last issued its earnings results on Wednesday, May 21st. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.35) by $0.11. As a group, equities research analysts predict that Abeona Therapeutics will post -1.16 EPS for the current fiscal year.

Insider Activity

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 transaction of $119,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,355,322 shares of the company's stock, valued at $6,478,439.16. This represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 6.90% of the company's stock.

Hedge Funds Weigh In On Abeona Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC purchased a new stake in shares of Abeona Therapeutics during the third quarter valued at approximately $84,000. JPMorgan Chase & Co. raised its position in shares of Abeona Therapeutics by 74.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 67,138 shares of the biopharmaceutical company's stock valued at $424,000 after purchasing an additional 28,606 shares during the period. Wellington Management Group LLP bought a new stake in Abeona Therapeutics in the 4th quarter valued at $520,000. Trexquant Investment LP bought a new stake in Abeona Therapeutics in the 4th quarter valued at $382,000. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of Abeona Therapeutics by 20.1% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,902,360 shares of the biopharmaceutical company's stock worth $21,736,000 after buying an additional 652,366 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

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.