Abeona Therapeutics Inc. $ABEO Stock Position Increased by Squarepoint Ops LLC

Squarepoint Ops LLC raised its position in shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) by 274.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 141,978 shares of the biopharmaceutical company’s stock after purchasing an additional 104,037 shares during the period. Squarepoint Ops LLC’s holdings in Abeona Therapeutics were worth $806,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. raised its holdings in shares of Abeona Therapeutics by 14.2% during the second quarter. Adage Capital Partners GP L.L.C. now owns 3,072,985 shares of the biopharmaceutical company’s stock valued at $17,455,000 after buying an additional 381,357 shares during the last quarter. Boone Capital Management LLC bought a new stake in Abeona Therapeutics during the 2nd quarter valued at $7,126,000. Geode Capital Management LLC boosted its position in Abeona Therapeutics by 129.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock worth $6,282,000 after acquiring an additional 623,243 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Abeona Therapeutics by 255.6% in the second quarter. JPMorgan Chase & Co. now owns 831,132 shares of the biopharmaceutical company’s stock worth $4,721,000 after purchasing an additional 597,373 shares in the last quarter. Finally, 683 Capital Management LLC increased its holdings in shares of Abeona Therapeutics by 11.1% during the second quarter. 683 Capital Management LLC now owns 750,000 shares of the biopharmaceutical company’s stock valued at $4,260,000 after purchasing an additional 75,000 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ABEO. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Abeona Therapeutics in a research note on Monday, October 13th. Wall Street Zen lowered shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings cut shares of Abeona Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 24th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell 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 $20.00.

Insiders Place Their Bets

In related news, CFO Joseph Walter Vazzano sold 9,035 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $5.39, for a total transaction of $48,698.65. Following the transaction, the chief financial officer directly owned 453,631 shares of the company’s stock, valued at approximately $2,445,071.09. The trade was a 1.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Brendan M. O’malley sold 9,366 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $5.39, for a total transaction of $50,482.74. Following the completion of the transaction, the senior vice president directly owned 350,763 shares in the company, valued at $1,890,612.57. This trade represents a 2.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 77,924 shares of company stock worth $406,535. 5.40% of the stock is currently owned by corporate insiders.

Abeona Therapeutics Price Performance

Shares of NASDAQ:ABEO opened at $5.44 on Tuesday. Abeona Therapeutics Inc. has a one year low of $3.93 and a one year high of $7.54. The company has a market capitalization of $294.79 million, a PE ratio of 4.42 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.53 and a current ratio of 9.74. The stock has a fifty day moving average of $4.94 and a 200-day moving average of $5.75.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.17. As a group, equities analysts anticipate that Abeona Therapeutics Inc. will post -1.16 EPS for the current fiscal year.

About Abeona Therapeutics

Abeona Therapeutics is a clinical‐stage biopharmaceutical company focused on the development and commercialization of gene and cell therapies for severe, life‐threatening rare diseases and oncology indications. Founded in 2014 and headquartered in Cleveland, Ohio, Abeona leverages proprietary viral and non‐viral delivery platforms to correct or compensate for underlying genetic deficiencies. The company’s research efforts target pediatric neurodegenerative disorders as well as debilitating dermatologic conditions with high unmet medical need.

The company’s lead clinical programs include separate AAV‐based gene therapies for CLN1 and CLN3 forms of neuronal ceroid lipofuscinosis, alongside an ex vivo autologous cell therapy for recessive dystrophic epidermolysis bullosa.