Renaissance Technologies LLC Sells 45,041 Shares of Abeona Therapeutics Inc (NASDAQ:ABEO)

Renaissance Technologies LLC lowered its position in shares of Abeona Therapeutics Inc (NASDAQ:ABEO - Free Report) by 33.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,237 shares of the biopharmaceutical company's stock after selling 45,041 shares during the period. Renaissance Technologies LLC owned about 0.21% of Abeona Therapeutics worth $497,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ABEO. Trexquant Investment LP purchased a new stake in shares of Abeona Therapeutics during the fourth quarter worth about $382,000. Wellington Management Group LLP bought a new position in Abeona Therapeutics during the 4th quarter valued at approximately $520,000. JPMorgan Chase & Co. lifted its holdings in Abeona Therapeutics by 74.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 67,138 shares of the biopharmaceutical company's stock worth $424,000 after buying an additional 28,606 shares during the period. Geode Capital Management LLC grew its position in shares of 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 buying an additional 83,050 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Abeona Therapeutics during the third quarter valued at approximately $84,000. Institutional investors own 80.56% of the company's stock.

Insider Activity

In related news, CEO Vishwas Seshadri sold 25,000 shares of the company's stock in a transaction that occurred 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 directly owns 1,355,322 shares of the company's stock, valued at approximately $6,478,439.16. This represents a 1.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.40% of the company's stock.

Wall Street Analysts Forecast Growth

ABEO has been the topic of several recent analyst reports. Oppenheimer began coverage on shares of Abeona Therapeutics in a report on Wednesday, March 5th. They issued an "outperform" rating and a $16.00 price target on the stock. HC Wainwright lifted their target price on shares of Abeona Therapeutics from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, StockNews.com upgraded shares of Abeona Therapeutics from a "sell" rating to a "hold" rating in a research report on Monday, March 24th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $18.75.

Abeona Therapeutics Stock Down 8.5 %

NASDAQ:ABEO traded down $0.49 during trading hours on Wednesday, reaching $5.27. 1,690,658 shares of the company traded hands, compared to its average volume of 569,626. Abeona Therapeutics Inc has a 1 year low of $3.93 and a 1 year high of $7.32. The stock has a market capitalization of $257.08 million, a P/E ratio of -1.96 and a beta of 1.68. The business's 50-day moving average price is $5.12 and its two-hundred day moving average price is $5.60. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.31.

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

About Abeona Therapeutics

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.