Schonfeld Strategic Advisors LLC Takes Position in Abeona Therapeutics Inc (NASDAQ:ABEO)

Schonfeld Strategic Advisors LLC purchased a new stake in Abeona Therapeutics Inc (NASDAQ:ABEO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 61,266 shares of the biopharmaceutical company's stock, valued at approximately $341,000. Schonfeld Strategic Advisors LLC owned approximately 0.14% of Abeona Therapeutics at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ABEO. Northern Trust Corp raised its holdings in shares of Abeona Therapeutics by 6.6% during the fourth quarter. Northern Trust Corp now owns 184,929 shares of the biopharmaceutical company's stock valued at $1,030,000 after purchasing an additional 11,478 shares during the period. Jane Street Group LLC purchased a new position in Abeona Therapeutics in the 3rd quarter worth $84,000. Oxford Asset Management LLP bought a new stake in Abeona Therapeutics in the 4th quarter worth $118,000. JPMorgan Chase & Co. boosted its stake 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 purchasing an additional 28,606 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in Abeona Therapeutics in the fourth quarter worth about $382,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Vishwas Seshadri sold 25,000 shares of the firm'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 completion of the transaction, the chief executive officer now owns 1,355,322 shares in the company, valued at approximately $6,478,439.16. This trade represents a 1.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark Alvino sold 8,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 92,435 shares of the company's stock, valued at $525,030.80. This trade represents 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 corporate insiders.

Abeona Therapeutics Trading Up 5.4%

Shares of NASDAQ:ABEO traded up $0.31 during trading on Friday, reaching $6.10. The stock had a trading volume of 1,390,805 shares, compared to its average volume of 601,697. The company has a quick ratio of 6.12, a current ratio of 6.12 and a debt-to-equity ratio of 0.31. Abeona Therapeutics Inc has a fifty-two week low of $3.93 and a fifty-two week high of $7.32. The business has a fifty day moving average price of $5.18 and a 200-day moving average price of $5.55. The stock has a market cap of $297.68 million, a P/E ratio of -2.27 and a beta of 1.68.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last announced its 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 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Stifel Nicolaus cut 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. HC Wainwright raised their price target on shares of Abeona Therapeutics from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. StockNews.com lowered shares of Abeona Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday. Finally, Oppenheimer started 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. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $18.50.

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.