Abeona Therapeutics (NASDAQ:ABEO) Stock Price Passes Below 200-Day Moving Average – Here’s What Happened

Abeona Therapeutics Inc. (NASDAQ:ABEO)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.81 and traded as low as $5.31. Abeona Therapeutics shares last traded at $5.36, with a volume of 1,022,949 shares traded.

Wall Street Analysts Forecast Growth

ABEO has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a report on Monday, October 13th. Finally, Weiss Ratings cut Abeona Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 24th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Abeona Therapeutics Price Performance

The stock has a market cap of $290.46 million, a price-to-earnings ratio of 4.36 and a beta of 1.12. The company has a current ratio of 9.74, a quick ratio of 9.53 and a debt-to-equity ratio of 0.06. The company’s fifty day moving average is $4.98 and its two-hundred day moving average is $5.81.

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

Insider Transactions at Abeona Therapeutics

In other Abeona Therapeutics news, CFO Joseph Walter Vazzano sold 9,035 shares of the 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 sale, the chief financial officer directly owned 453,631 shares in the company, valued at $2,445,071.09. This represents a 1.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Alvino sold 15,000 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $4.74, for a total transaction of $71,100.00. Following the completion of the transaction, the director owned 62,252 shares of the company’s stock, valued at approximately $295,074.48. This trade represents a 19.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 78,612 shares of company stock valued at $410,271. 6.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ABEO. Ameritas Investment Partners Inc. acquired a new stake in Abeona Therapeutics in the 2nd quarter valued at about $25,000. Legal & General Group Plc purchased a new stake in shares of Abeona Therapeutics during the second quarter worth approximately $27,000. Russell Investments Group Ltd. purchased a new stake in shares of Abeona Therapeutics during the third quarter worth approximately $37,000. Legato Capital Management LLC acquired a new stake in Abeona Therapeutics in the third quarter valued at approximately $57,000. Finally, Riverwater Partners LLC purchased a new position in Abeona Therapeutics in the second quarter worth approximately $62,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

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.