Brendan O’malley Sells 4,826 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) SVP Brendan O’malley sold 4,826 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $5.43, for a total value of $26,205.18. Following the completion of the sale, the senior vice president directly owned 446,308 shares of the company’s stock, valued at $2,423,452.44. This trade represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Abeona Therapeutics Stock Up 1.3%

Shares of NASDAQ ABEO traded up $0.07 during midday trading on Tuesday, hitting $5.45. 1,159,558 shares of the stock traded hands, compared to its average volume of 981,006. The business has a 50 day moving average price of $5.37 and a two-hundred day moving average price of $5.16. Abeona Therapeutics Inc. has a one year low of $4.00 and a one year high of $7.54. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.70 and a current ratio of 5.89. The company has a market cap of $310.60 million, a PE ratio of 5.62 and a beta of 1.35.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.03. The business had revenue of $8.72 million during the quarter, compared to the consensus estimate of $4.57 million. On average, equities analysts predict that Abeona Therapeutics Inc. will post -0.79 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ABEO. Aberdeen Group plc bought a new position in Abeona Therapeutics in the 4th quarter worth about $3,248,000. AIGH Capital Management LLC purchased a new stake in Abeona Therapeutics in the fourth quarter valued at approximately $10,540,000. Nan Fung Trinity HK Ltd. lifted its position in Abeona Therapeutics by 70.6% during the fourth quarter. Nan Fung Trinity HK Ltd. now owns 956,770 shares of the biopharmaceutical company’s stock valued at $5,042,000 after purchasing an additional 396,000 shares during the last quarter. Renaissance Technologies LLC lifted its position in Abeona Therapeutics by 38.6% during the first quarter. Renaissance Technologies LLC now owns 161,082 shares of the biopharmaceutical company’s stock valued at $722,000 after purchasing an additional 44,882 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Abeona Therapeutics by 142.4% during the 1st quarter. Sei Investments Co. now owns 172,460 shares of the biopharmaceutical company’s stock valued at $773,000 after buying an additional 101,307 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Abeona Therapeutics in a report on Thursday, May 28th. Oppenheimer reissued an “outperform” rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. Stifel Nicolaus set a $17.00 price target on Abeona Therapeutics in a research report on Tuesday, March 17th. Finally, Wall Street Zen upgraded shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Monday, June 1st. Two 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, Abeona Therapeutics has a consensus rating of “Hold” and an average target price of $19.00.

Abeona Therapeutics Company Profile

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.