Wellington Management Group LLP Acquires Shares of 93,289 Abeona Therapeutics Inc (NASDAQ:ABEO)

Wellington Management Group LLP acquired a new stake in Abeona Therapeutics Inc (NASDAQ:ABEO) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 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 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ABEO. JPMorgan Chase & Co. raised its stake in Abeona Therapeutics by 74.2% in 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 during the last quarter. Geode Capital Management LLC lifted its position in 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 buying an additional 83,050 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Abeona Therapeutics in the 3rd quarter worth approximately $160,000. Jane Street Group LLC acquired a new position in Abeona Therapeutics during the third quarter worth $84,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Abeona Therapeutics during the 3rd quarter valued at about $151,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Abeona Therapeutics Trading Up 7.6 %

Shares of ABEO stock opened at $4.95 on Tuesday. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $5.19 and its two-hundred day moving average is $5.70. Abeona Therapeutics Inc has a twelve month low of $3.05 and a twelve month high of $8.45. The company has a market capitalization of $240.24 million, a P/E ratio of -1.84 and a beta of 1.71.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.19. Equities analysts forecast that Abeona Therapeutics Inc will post -1.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on ABEO. HC Wainwright restated a “buy” rating and issued a $15.00 price target on shares of Abeona Therapeutics in a research note on Monday, March 24th. StockNews.com upgraded shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Oppenheimer began coverage on Abeona Therapeutics in a research report 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 hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.50.

Insiders Place Their Bets

In other Abeona Therapeutics news, CEO Vishwas Seshadri sold 25,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 33,000 shares of company stock worth $161,420. Corporate insiders own 5.40% of the company’s stock.

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.