Wellington Management Group LLP Buys 59,832 Shares of Abeona Therapeutics Inc. $ABEO

Wellington Management Group LLP lifted its holdings in shares of Abeona Therapeutics Inc. (NASDAQ:ABEO - Free Report) by 64.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 153,121 shares of the biopharmaceutical company's stock after acquiring an additional 59,832 shares during the period. Wellington Management Group LLP owned approximately 0.31% of Abeona Therapeutics worth $729,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABEO. Western Standard LLC increased its position in shares of Abeona Therapeutics by 22.8% during the fourth quarter. Western Standard LLC now owns 2,084,418 shares of the biopharmaceutical company's stock worth $11,610,000 after acquiring an additional 386,321 shares in the last quarter. Jane Street Group LLC grew its position in Abeona Therapeutics by 894.8% in the 4th quarter. Jane Street Group LLC now owns 131,478 shares of the biopharmaceutical company's stock worth $732,000 after purchasing an additional 118,262 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Abeona Therapeutics in the 4th quarter worth about $362,000. Schonfeld Strategic Advisors LLC bought a new stake in Abeona Therapeutics in the 4th quarter worth about $341,000. Finally, Bank of America Corp DE grew its position in Abeona Therapeutics by 16.7% in the 4th quarter. Bank of America Corp DE now owns 264,439 shares of the biopharmaceutical company's stock worth $1,473,000 after purchasing an additional 37,774 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABEO. Stifel Nicolaus reduced their target price on shares of Abeona Therapeutics from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Alliance Global Partners reissued a "buy" rating on shares of Abeona Therapeutics in a research report on Thursday, May 15th. Oppenheimer increased their target price on shares of Abeona Therapeutics from $19.00 to $20.00 and gave the company an "outperform" rating in a research report on Friday, August 15th. Wall Street Zen cut shares of Abeona Therapeutics from a "hold" rating to a "sell" rating in a research note on Thursday, May 15th. Finally, HC Wainwright restated a "buy" rating and set a $20.00 price target on shares of Abeona Therapeutics in a research note on Monday, August 18th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Abeona Therapeutics has a consensus rating of "Buy" and an average target price of $19.50.

Insiders Place Their Bets

In other Abeona Therapeutics news, CFO Joseph Walter Vazzano sold 25,411 shares of the stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $5.86, for a total value of $148,908.46. Following the sale, the chief financial officer directly owned 479,168 shares in the company, valued at $2,807,924.48. This represents a 5.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark Alvino sold 13,093 shares of the stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total transaction of $76,724.98. Following the completion of the sale, the director owned 77,252 shares in the company, valued at $452,696.72. This represents a 14.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 150,685 shares of company stock worth $884,186. Company insiders own 6.90% of the company's stock.

Abeona Therapeutics Stock Performance

Shares of ABEO stock traded up $0.03 during trading on Friday, reaching $6.89. 536,782 shares of the company's stock traded hands, compared to its average volume of 682,307. The company has a market capitalization of $353.32 million, a P/E ratio of 9.84 and a beta of 1.67. The company has a current ratio of 6.73, a quick ratio of 6.65 and a debt-to-equity ratio of 0.09. The firm's 50-day moving average is $6.50 and its 200 day moving average is $5.87. Abeona Therapeutics Inc. has a 1 year low of $3.93 and a 1 year high of $7.54.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last posted its earnings results on Thursday, August 14th. The biopharmaceutical company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $2.10. The firm had revenue of $0.40 million during the quarter, compared to analysts' expectations of $21.71 million. Equities research analysts expect 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.