Abeona Therapeutics Inc (NASDAQ:ABEO) Stake Increased by Western Standard LLC

Western Standard LLC increased its holdings in Abeona Therapeutics Inc (NASDAQ:ABEO - Free Report) by 22.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,084,418 shares of the biopharmaceutical company's stock after purchasing an additional 386,321 shares during the period. Abeona Therapeutics makes up about 7.7% of Western Standard LLC's holdings, making the stock its 3rd biggest holding. Western Standard LLC owned approximately 4.80% of Abeona Therapeutics worth $11,610,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABEO. JPMorgan Chase & Co. raised its holdings in 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 buying an additional 28,606 shares during the last quarter. Wellington Management Group LLP bought a new stake in Abeona Therapeutics during the 4th quarter valued at $520,000. Trexquant Investment LP bought a new stake in Abeona Therapeutics during the 4th quarter valued at $382,000. Adage Capital Partners GP L.L.C. raised its holdings in Abeona Therapeutics by 20.1% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,902,360 shares of the biopharmaceutical company's stock valued at $21,736,000 after buying an additional 652,366 shares during the last quarter. Finally, Oxford Asset Management LLP bought a new stake in Abeona Therapeutics during the 4th quarter valued at $118,000. 80.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Vishwas Seshadri sold 25,000 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $4.78, for a total value of $119,500.00. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Alvino sold 8,000 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $5.68, for a total transaction of $45,440.00. Following the completion of the transaction, the director now owns 92,435 shares of the company's stock, valued at approximately $525,030.80. The trade was a 7.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ABEO. Oppenheimer began coverage on shares of Abeona Therapeutics in a report on Wednesday, March 5th. They set an "outperform" rating and a $16.00 price target for the company. Alliance Global Partners reiterated a "buy" rating on shares of Abeona Therapeutics in a report on Thursday, May 15th. Stifel Nicolaus lowered their price target on shares of Abeona Therapeutics from $21.00 to $20.00 and set a "buy" rating for the company in a report on Friday, May 16th. Wall Street Zen cut shares of Abeona Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 15th. Finally, HC Wainwright raised their target price 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. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $18.50.

Abeona Therapeutics Stock Down 2.4%

Shares of Abeona Therapeutics stock traded down $0.16 during trading on Friday, hitting $6.42. The company's stock had a trading volume of 957,198 shares, compared to its average volume of 619,860. The company has a debt-to-equity ratio of 0.31, a quick ratio of 6.12 and a current ratio of 6.12. The company has a fifty day simple moving average of $5.29 and a two-hundred day simple moving average of $5.56. The company has a market capitalization of $328.43 million, a PE ratio of -2.39 and a beta of 1.68. Abeona Therapeutics Inc has a 52 week low of $3.93 and a 52 week high of $7.32.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.11. Equities research analysts predict that Abeona Therapeutics Inc will post -1.16 earnings per share for the current year.

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.