Abeona Therapeutics Inc (NASDAQ:ABEO) Shares Purchased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. raised its holdings in Abeona Therapeutics Inc (NASDAQ:ABEO - Free Report) by 20.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,902,360 shares of the biopharmaceutical company's stock after buying an additional 652,366 shares during the quarter. 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 reporting period.

Several other institutional investors have also added to or reduced their stakes in ABEO. Wellington Management Group LLP purchased a new position in shares of Abeona Therapeutics during the 4th quarter valued at about $520,000. Trexquant Investment LP purchased a new stake in shares of Abeona Therapeutics during the 4th quarter worth about $382,000. Jane Street Group LLC acquired a new stake in shares of Abeona Therapeutics during the 3rd quarter valued at about $84,000. JPMorgan Chase & Co. increased its stake in shares of Abeona Therapeutics by 74.2% in 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 in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Abeona Therapeutics by 21.7% in the 3rd quarter. Geode Capital Management LLC now owns 465,317 shares of the biopharmaceutical company's stock worth $2,942,000 after purchasing an additional 83,050 shares during the period. Institutional investors and hedge funds own 80.56% of the company's stock.

Insider Buying and Selling

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 transaction, the chief executive officer now owns 1,355,322 shares of the company's stock, valued at $6,478,439.16. This represents a 1.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.40% of the stock is currently owned by company insiders.

Abeona Therapeutics Price Performance

Shares of Abeona Therapeutics stock traded up $1.26 during trading hours on Wednesday, reaching $6.56. 18,484,077 shares of the company's stock were exchanged, compared to its average volume of 561,289. The business has a fifty day moving average of $5.02 and a two-hundred day moving average of $5.61. The company has a market capitalization of $320.13 million, a P/E ratio of -2.44 and a beta of 1.71. 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 Inc has a 1 year low of $3.44 and a 1 year high of $7.29.

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

Analyst Ratings Changes

ABEO has been the topic of a number of recent analyst reports. HC Wainwright increased their target price on Abeona Therapeutics from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday. StockNews.com upgraded shares of Abeona Therapeutics from a "sell" rating to a "hold" rating in a research report on Monday, March 24th. Finally, Oppenheimer initiated coverage on shares of Abeona Therapeutics in a research note on Wednesday, March 5th. They issued an "outperform" rating and a $16.00 price target on the stock. 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 MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $18.75.

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.