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

Wellington Management Group LLP purchased a new position in shares of Abeona Therapeutics Inc (NASDAQ:ABEO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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 filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. Jane Street Group LLC purchased a new position in shares of Abeona Therapeutics in the third quarter worth about $84,000. Charles Schwab Investment Management Inc. purchased a new position in Abeona Therapeutics in the 3rd quarter worth approximately $151,000. XTX Topco Ltd bought a new stake in Abeona Therapeutics in the third quarter valued at approximately $160,000. JPMorgan Chase & Co. grew its holdings in shares of Abeona Therapeutics by 74.2% in the third quarter. JPMorgan Chase & Co. now owns 67,138 shares of the biopharmaceutical company's stock worth $424,000 after purchasing an additional 28,606 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Abeona Therapeutics by 21.7% in the third 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 period. Hedge funds and other institutional investors own 80.56% of the company's stock.

Insider Activity

In related news, CEO Vishwas Seshadri sold 25,000 shares of Abeona Therapeutics 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 directly owns 1,355,322 shares of the company's stock, valued at $6,478,439.16. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 33,000 shares of company stock worth $161,420. Corporate insiders own 5.40% of the company's stock.

Analysts Set New Price Targets

ABEO has been the topic of a number of recent analyst reports. Oppenheimer started 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. StockNews.com upgraded Abeona Therapeutics from a "sell" rating to a "hold" rating in a report on Monday, March 24th. Finally, HC Wainwright reiterated a "buy" rating and issued a $15.00 price objective on shares of Abeona Therapeutics in a report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.50.

Abeona Therapeutics Trading Down 0.2 %

Shares of NASDAQ ABEO traded down $0.01 during midday trading on Friday, hitting $4.84. 822,763 shares of the company traded hands, compared to its average volume of 449,821. Abeona Therapeutics Inc has a 12-month low of $3.05 and a 12-month high of $7.73. The firm has a market cap of $236.19 million, a P/E ratio of -1.80 and a beta of 1.71. The stock has a 50-day moving average price of $5.12 and a 200 day moving average price of $5.67. The company has a debt-to-equity ratio of 0.31, a quick ratio of 6.12 and a current ratio of 6.12.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last released its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.43) by $0.19. As a group, analysts expect 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.