Abeona Therapeutics Sees Unusually High Options Volume (NASDAQ:ABEO)

Abeona Therapeutics Inc (NASDAQ:ABEO) was the target of unusually large options trading on Monday. Stock investors purchased 5,499 call options on the company. This is an increase of 657% compared to the average daily volume of 726 call options.

Abeona Therapeutics Trading Up 8.1%

NASDAQ:ABEO traded up $0.43 on Monday, reaching $5.70. The company’s stock had a trading volume of 1,581,847 shares, compared to its average volume of 577,260. Abeona Therapeutics has a 1-year low of $3.93 and a 1-year high of $7.32. The company has a debt-to-equity ratio of 0.31, a quick ratio of 6.12 and a current ratio of 6.12. The firm has a market cap of $278.01 million, a PE ratio of -2.10 and a beta of 1.68. The business’s 50-day moving average price is $5.14 and its two-hundred day moving average price is $5.57.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.19. Equities research analysts anticipate that Abeona Therapeutics will post -1.16 earnings per share for the current fiscal year.

Insider Transactions at Abeona Therapeutics

In related news, CEO Vishwas Seshadri sold 25,000 shares of Abeona Therapeutics stock in a transaction dated 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 directly owns 1,355,322 shares of the company’s stock, valued at $6,478,439.16. This trade represents a 1.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new position in shares of Abeona Therapeutics during the third quarter worth about $84,000. JPMorgan Chase & Co. boosted its position in shares of Abeona Therapeutics by 74.2% during the third quarter. JPMorgan Chase & Co. now owns 67,138 shares of the biopharmaceutical company’s stock worth $424,000 after buying an additional 28,606 shares during the period. Wellington Management Group LLP acquired a new position in shares of Abeona Therapeutics during the fourth quarter worth about $520,000. Trexquant Investment LP acquired a new position in shares of Abeona Therapeutics during the fourth quarter worth about $382,000. Finally, Adage Capital Partners GP L.L.C. boosted its position in shares of Abeona Therapeutics by 20.1% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,902,360 shares of the biopharmaceutical company’s stock worth $21,736,000 after buying an additional 652,366 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 equities research analysts recently weighed in on the company. StockNews.com raised Abeona Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, March 24th. Oppenheimer began coverage on Abeona Therapeutics in a research note on Wednesday, March 5th. They issued an “outperform” rating and a $16.00 target price for the company. Finally, HC Wainwright lifted their price target on shares of Abeona Therapeutics from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.75.

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.