Abeona Therapeutics Inc (NASDAQ:ABEO) Short Interest Update

Abeona Therapeutics Inc (NASDAQ:ABEO) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 1,990,000 shares, a growth of 17.1% from the March 15th total of 1,700,000 shares. Based on an average daily trading volume, of 333,800 shares, the days-to-cover ratio is presently 6.0 days. Currently, 7.7% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, February 19th.

Abeona Therapeutics Stock Down 3.1 %

Shares of NASDAQ:ABEO opened at $7.55 on Friday. Abeona Therapeutics has a fifty-two week low of $2.73 and a fifty-two week high of $9.01. The firm has a 50-day simple moving average of $7.20 and a 200 day simple moving average of $5.49. The company has a market cap of $206.49 million, a PE ratio of -2.93 and a beta of 1.49.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Monday, March 18th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.13). As a group, research analysts forecast that Abeona Therapeutics will post -1.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mark Alvino sold 7,084 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $5.11, for a total value of $36,199.24. Following the completion of the sale, the director now owns 62,816 shares of the company’s stock, valued at approximately $320,989.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. grew its position in Abeona Therapeutics by 84.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 3,249,994 shares of the biopharmaceutical company’s stock worth $13,682,000 after purchasing an additional 1,488,834 shares during the last quarter. Renaissance Technologies LLC grew its position in Abeona Therapeutics by 3.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,398,166 shares of the biopharmaceutical company’s stock worth $499,000 after purchasing an additional 72,350 shares during the last quarter. BlackRock Inc. grew its position in Abeona Therapeutics by 4.7% in the 1st quarter. BlackRock Inc. now owns 1,694,624 shares of the biopharmaceutical company’s stock worth $534,000 after purchasing an additional 76,694 shares during the last quarter. Worth Venture Partners LLC grew its position in Abeona Therapeutics by 9.5% in the 1st quarter. Worth Venture Partners LLC now owns 1,244,774 shares of the biopharmaceutical company’s stock worth $392,000 after purchasing an additional 107,500 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Abeona Therapeutics in the 4th quarter worth about $3,544,000. Institutional investors own 80.56% of the company’s stock.

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.