Balyasny Asset Management L.P. Invests $190,000 in Abeona Therapeutics Inc (NASDAQ:ABEO)

Balyasny Asset Management L.P. bought a new position in Abeona Therapeutics Inc (NASDAQ:ABEO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 34,128 shares of the biopharmaceutical company’s stock, valued at approximately $190,000.

Other large investors have also bought and sold shares of the company. Adage Capital Partners GP L.L.C. raised its position in Abeona Therapeutics by 20.1% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,902,360 shares of the biopharmaceutical company’s stock valued at $21,736,000 after purchasing an additional 652,366 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Abeona Therapeutics by 894.8% in the fourth quarter. Jane Street Group LLC now owns 131,478 shares of the biopharmaceutical company’s stock valued at $732,000 after buying an additional 118,262 shares during the last quarter. 683 Capital Management LLC lifted its position in Abeona Therapeutics by 17.3% during the 4th quarter. 683 Capital Management LLC now owns 791,845 shares of the biopharmaceutical company’s stock worth $4,411,000 after buying an additional 116,845 shares in the last quarter. Wellington Management Group LLP acquired a new position in Abeona Therapeutics during the 4th quarter worth about $520,000. Finally, Trexquant Investment LP bought a new stake in Abeona Therapeutics during the 4th quarter worth about $382,000. 80.56% of the stock is currently owned by institutional investors.

Abeona Therapeutics Trading Up 5.4%

ABEO opened at $6.10 on Monday. The firm has a 50 day simple moving average of $5.18 and a 200 day simple moving average of $5.55. Abeona Therapeutics Inc has a fifty-two week low of $3.93 and a fifty-two week high of $7.32. The company has a market cap of $297.68 million, a price-to-earnings ratio of -2.27 and a beta of 1.68. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.12 and a quick ratio of 6.12.

Abeona Therapeutics (NASDAQ:ABEO) last issued its earnings results on Thursday, May 15th. The biopharmaceutical company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.11. On average, sell-side analysts anticipate that Abeona Therapeutics Inc will post -1.16 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on ABEO shares. StockNews.com cut shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday. Stifel Nicolaus reduced their price objective on Abeona Therapeutics from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Friday. HC Wainwright lifted their target price on Abeona Therapeutics from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. 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 for the company. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, Abeona Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $18.50.

Insider Activity at Abeona Therapeutics

In related news, CEO Vishwas Seshadri sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $4.78, for a total transaction of $119,500.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Alvino sold 8,000 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $5.68, for a total transaction of $45,440.00. Following the completion of the sale, the director now owns 92,435 shares in the company, valued at approximately $525,030.80. This trade represents a 7.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by corporate insiders.

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.