Wellington Management Group LLP Invests $520,000 in Abeona Therapeutics Inc (NASDAQ:ABEO)

Wellington Management Group LLP acquired a new stake in Abeona Therapeutics Inc (NASDAQ:ABEO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 93,289 shares of the biopharmaceutical company's stock, valued at approximately $520,000. Wellington Management Group LLP owned approximately 0.21% of Abeona Therapeutics as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ABEO. Western Standard LLC grew its stake in Abeona Therapeutics by 22.8% in the fourth quarter. Western Standard LLC now owns 2,084,418 shares of the biopharmaceutical company's stock valued at $11,610,000 after acquiring an additional 386,321 shares during the period. Squarepoint Ops LLC bought a new position in shares of Abeona Therapeutics during the 4th quarter valued at about $67,000. Twinbeech Capital LP acquired a new position in shares of Abeona Therapeutics in the 4th quarter valued at approximately $58,000. OMERS ADMINISTRATION Corp bought a new stake in Abeona Therapeutics during the 4th quarter worth approximately $362,000. Finally, Balyasny Asset Management L.P. bought a new stake in Abeona Therapeutics during the 4th quarter worth approximately $190,000. Institutional investors own 80.56% of the company's stock.

Abeona Therapeutics Stock Performance

Shares of ABEO stock opened at $6.74 on Friday. The company's fifty day simple moving average is $5.56 and its 200-day simple moving average is $5.58. The company has a quick ratio of 6.12, a current ratio of 6.12 and a debt-to-equity ratio of 0.31. The firm has a market cap of $344.80 million, a PE ratio of -2.51 and a beta of 1.54. Abeona Therapeutics Inc has a 12 month low of $3.93 and a 12 month high of $7.32.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Stifel Nicolaus cut their price target 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. Alliance Global Partners reaffirmed a "buy" rating on shares of Abeona Therapeutics in a research report on Thursday, May 15th. Wall Street Zen cut Abeona Therapeutics from a "hold" rating to a "sell" rating in a report on Thursday, May 15th. Oppenheimer initiated coverage on Abeona Therapeutics in a research note on Monday, June 2nd. They issued an "outperform" rating and a $19.00 price target on the stock. Finally, HC Wainwright boosted their price target on Abeona Therapeutics from $15.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Abeona Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $19.25.

Insider Activity at Abeona Therapeutics

In other Abeona Therapeutics news, CEO Vishwas Seshadri sold 25,000 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 1,355,322 shares in the company, valued at $6,478,439.16. This trade represents 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 link. Also, SVP Brendan M. O'malley sold 10,470 shares of Abeona Therapeutics stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $6.76, for a total transaction of $70,777.20. Following the completion of the transaction, the senior vice president now directly owns 378,245 shares of the company's stock, valued at approximately $2,556,936.20. This trade represents a 2.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,941 shares of company stock valued at $711,341. 6.90% of the stock is owned by insiders.

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.

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