Short Interest in Abeona Therapeutics Inc (NASDAQ:ABEO) Increases By 15.7%

Abeona Therapeutics Inc (NASDAQ:ABEO) saw a significant growth in short interest in June. As of June 15th, there was short interest totalling 2,650,000 shares, a growth of 15.7% from the May 31st total of 2,290,000 shares. Based on an average trading volume of 714,000 shares, the short-interest ratio is presently 3.7 days. Approximately 6.7% of the shares of the stock are short sold.

Insider Buying and Selling

In other Abeona Therapeutics news, CEO Vishwas Seshadri purchased 10,000 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was acquired at an average cost of $3.20 per share, for a total transaction of $32,000.00. Following the completion of the transaction, the chief executive officer now directly owns 538,260 shares in the company, valued at approximately $1,722,432. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Brendan M. O’malley acquired 8,600 shares of the stock in a transaction dated Thursday, April 25th. The stock was purchased at an average cost of $3.24 per share, with a total value of $27,864.00. Following the completion of the purchase, the senior vice president now owns 188,718 shares in the company, valued at approximately $611,446.32. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Vishwas Seshadri acquired 10,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were purchased at an average cost of $3.20 per share, with a total value of $32,000.00. Following the completion of the purchase, the chief executive officer now owns 538,260 shares of the company’s stock, valued at approximately $1,722,432. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 42,758 shares of company stock worth $154,047. Corporate insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Abeona Therapeutics

A number of institutional investors have recently bought and sold shares of ABEO. Western Standard LLC grew its holdings in Abeona Therapeutics by 68.5% in the first quarter. Western Standard LLC now owns 1,361,489 shares of the biopharmaceutical company’s stock worth $9,871,000 after purchasing an additional 553,377 shares during the period. Acadian Asset Management LLC purchased a new stake in Abeona Therapeutics in the first quarter worth about $91,000. Jump Financial LLC purchased a new stake in Abeona Therapeutics in the fourth quarter worth about $199,000. Worth Venture Partners LLC grew its holdings in Abeona Therapeutics by 76.6% in the third quarter. Worth Venture Partners LLC now owns 281,280 shares of the biopharmaceutical company’s stock worth $1,184,000 after purchasing an additional 121,969 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its holdings in Abeona Therapeutics by 84.5% in the third 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 period. 80.56% of the stock is owned by institutional investors.

Abeona Therapeutics Price Performance

ABEO stock opened at $4.12 on Wednesday. Abeona Therapeutics has a 1 year low of $2.83 and a 1 year high of $9.01. The company has a market cap of $168.76 million, a P/E ratio of -1.29 and a beta of 1.59. The firm has a 50-day moving average of $4.26 and a 200 day moving average of $5.62.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.06). On average, equities research analysts expect that Abeona Therapeutics will post -1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Abeona Therapeutics in a research note on Thursday, May 30th. They set a “buy” rating and a $21.00 price objective for the company. StockNews.com downgraded shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Finally, Cantor Fitzgerald lowered their price objective on shares of Abeona Therapeutics from $28.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th.

Abeona Therapeutics Company 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.