Adage Capital Partners GP L.L.C. Has $21.74 Million Stock Position in Abeona Therapeutics Inc (NASDAQ:ABEO)

Adage Capital Partners GP L.L.C. grew its stake in shares of Abeona Therapeutics Inc (NASDAQ:ABEO - Free Report) by 20.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,902,360 shares of the biopharmaceutical company's stock after acquiring an additional 652,366 shares during the period. Adage Capital Partners GP L.L.C. owned about 8.98% of Abeona Therapeutics worth $21,736,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ABEO. Jane Street Group LLC acquired a new stake in Abeona Therapeutics during the third quarter valued at approximately $84,000. JPMorgan Chase & Co. lifted 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 acquiring an additional 28,606 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Abeona Therapeutics in the 4th quarter worth $382,000. Wellington Management Group LLP acquired a new stake in shares of Abeona Therapeutics during the fourth quarter worth $520,000. Finally, Geode Capital Management LLC boosted its position 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 purchasing an additional 83,050 shares during the period. Institutional investors own 80.56% of the company's stock.

Insiders Place Their Bets

In related news, CEO Vishwas Seshadri sold 25,000 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $4.78, for a total transaction of $119,500.00. Following the transaction, the chief executive officer now owns 1,355,322 shares of the company's stock, valued at approximately $6,478,439.16. The trade was a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 5.40% of the company's stock.

Abeona Therapeutics Stock Performance

Shares of NASDAQ ABEO traded down $0.22 during trading hours on Friday, hitting $6.66. 1,043,380 shares of the stock were exchanged, compared to its average volume of 964,533. The firm has a market capitalization of $324.76 million, a P/E ratio of -2.47 and a beta of 1.71. Abeona Therapeutics Inc has a one year low of $3.93 and a one year high of $7.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.12 and a quick ratio of 6.12. The company's 50 day moving average is $5.06 and its 200 day moving average is $5.62.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.19. On average, research analysts expect that Abeona Therapeutics Inc will post -1.16 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on ABEO. Oppenheimer initiated coverage on shares of Abeona Therapeutics in a report on Wednesday, March 5th. They issued an "outperform" rating and a $16.00 target price for the company. HC Wainwright boosted their price target on shares of Abeona Therapeutics from $15.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday. Finally, StockNews.com raised shares of Abeona Therapeutics from a "sell" rating to a "hold" rating in a research report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Abeona Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $18.75.

About Abeona Therapeutics

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.