Wellington Management Group LLP Purchases New Shares in Abeona Therapeutics Inc (NASDAQ:ABEO)

Wellington Management Group LLP bought a new stake in Abeona Therapeutics Inc (NASDAQ:ABEO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 93,289 shares of the biopharmaceutical company's stock, valued at approximately $520,000. Wellington Management Group LLP owned about 0.21% of Abeona Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABEO. Jane Street Group LLC acquired a new stake in shares of Abeona Therapeutics in the third quarter valued at $84,000. Charles Schwab Investment Management Inc. purchased a new stake in Abeona Therapeutics during the third quarter worth about $151,000. XTX Topco Ltd acquired a new stake in shares of Abeona Therapeutics during the third quarter worth about $160,000. JPMorgan Chase & Co. boosted its stake 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 valued at $424,000 after purchasing an additional 28,606 shares during the period. Finally, Geode Capital Management LLC grew its holdings 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 valued at $2,942,000 after purchasing an additional 83,050 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on ABEO. HC Wainwright reissued a "buy" rating and issued a $15.00 price target on shares of Abeona Therapeutics in a research report on Monday, March 24th. Oppenheimer assumed coverage on Abeona Therapeutics in a research note on Wednesday, March 5th. They set an "outperform" rating and a $16.00 target price for the company. Finally, StockNews.com raised 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.50.

Insider Activity

In other news, CEO Vishwas Seshadri sold 25,000 shares of Abeona Therapeutics stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $4.78, for a total transaction of $119,500.00. Following the sale, the chief executive officer now owns 1,355,322 shares in the company, valued at approximately $6,478,439.16. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 33,000 shares of company stock worth $161,420. Corporate insiders own 5.40% of the company's stock.

Abeona Therapeutics Stock Down 0.2 %

NASDAQ ABEO traded down $0.01 during trading on Friday, reaching $4.84. 822,763 shares of the company's stock were exchanged, compared to its average volume of 448,756. The company has a 50 day moving average price of $5.13 and a two-hundred day moving average price of $5.68. The stock has a market cap of $236.19 million, a P/E ratio of -1.80 and a beta of 1.71. Abeona Therapeutics Inc has a 1 year low of $3.05 and a 1 year high of $8.17. 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 announced its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.43) by $0.19. On average, equities research analysts anticipate that Abeona Therapeutics Inc will post -1.16 EPS for the current fiscal 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.