Millennium Management LLC Trims Stock Holdings in Abeona Therapeutics Inc (NASDAQ:ABEO)

Millennium Management LLC decreased its holdings in shares of Abeona Therapeutics Inc (NASDAQ:ABEO - Free Report) by 8.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,117,169 shares of the biopharmaceutical company's stock after selling 184,459 shares during the period. Millennium Management LLC owned about 4.87% of Abeona Therapeutics worth $11,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oxford Asset Management LLP purchased a new position in shares of Abeona Therapeutics during the 4th quarter valued at approximately $118,000. Balyasny Asset Management L.P. purchased a new position in shares of Abeona Therapeutics during the 4th quarter valued at approximately $190,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Abeona Therapeutics during the 4th quarter valued at approximately $341,000. 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 buying an additional 28,606 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in Abeona Therapeutics in the 4th quarter valued at $382,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Oppenheimer assumed coverage on shares of Abeona Therapeutics in a research note on Wednesday, March 5th. They set an "outperform" rating and a $16.00 target price on the stock. Wall Street Zen cut shares of Abeona Therapeutics from a "hold" rating to a "sell" rating in a research note on Thursday, May 15th. Alliance Global Partners reaffirmed a "buy" rating on shares of Abeona Therapeutics in a research note on Thursday, May 15th. Stifel Nicolaus lowered their target price on shares of Abeona Therapeutics from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Finally, HC Wainwright lifted their target price on shares of Abeona Therapeutics from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $18.50.

Insider Activity

In other news, CEO Vishwas Seshadri sold 25,000 shares of the business's stock in a transaction dated 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark Alvino sold 8,000 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $5.68, for a total transaction of $45,440.00. Following the transaction, the director now directly owns 92,435 shares in the company, valued at approximately $525,030.80. The trade was a 7.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,000 shares of company stock valued at $177,700. 6.90% of the stock is currently owned by insiders.

Abeona Therapeutics Trading Up 1.3%

Shares of ABEO stock traded up $0.08 on Thursday, hitting $6.07. 841,521 shares of the stock traded hands, compared to its average volume of 625,992. The firm's 50-day moving average price is $5.35 and its two-hundred day moving average price is $5.56. 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 stock has a market capitalization of $310.27 million, a PE ratio of -2.25 and a beta of 1.68. Abeona Therapeutics Inc has a twelve month low of $3.93 and a twelve month high of $7.32.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.11. As a group, analysts anticipate that Abeona Therapeutics Inc will post -1.16 EPS 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.