Abeona Therapeutics (NASDAQ:ABEO) Director Christine Berni Silverstein Sells 18,160 Shares

Abeona Therapeutics Inc. (NASDAQ:ABEO) Director Christine Berni Silverstein sold 18,160 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $5.71, for a total value of $103,693.60. Following the completion of the sale, the director directly owned 119,562 shares in the company, valued at $682,699.02. The trade was a 13.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Abeona Therapeutics Trading Up 2.5%

Shares of NASDAQ ABEO traded up $0.14 during trading hours on Monday, hitting $5.67. The company’s stock had a trading volume of 620,439 shares, compared to its average volume of 847,661. 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 stock has a market cap of $323.13 million, a price-to-earnings ratio of 5.85 and a beta of 1.35. Abeona Therapeutics Inc. has a 12 month low of $4.00 and a 12 month high of $7.54. The business has a 50-day simple moving average of $5.45 and a 200-day simple moving average of $5.19.

Abeona Therapeutics (NASDAQ:ABEO) last posted its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping 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, analysts anticipate that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current fiscal year.

Institutional Trading of Abeona Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. AIGH Capital Management LLC boosted its position in shares of Abeona Therapeutics by 55.0% in the 1st quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company’s stock worth $13,888,000 after purchasing an additional 1,100,000 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Abeona Therapeutics by 14.2% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,072,985 shares of the biopharmaceutical company’s stock worth $17,455,000 after purchasing an additional 381,357 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Abeona Therapeutics by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,602,901 shares of the biopharmaceutical company’s stock worth $13,743,000 after purchasing an additional 95,878 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Abeona Therapeutics by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,137,127 shares of the biopharmaceutical company’s stock worth $5,994,000 after purchasing an additional 9,996 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its position in shares of Abeona Therapeutics by 56.4% in the 3rd quarter. Kennedy Capital Management LLC now owns 1,050,863 shares of the biopharmaceutical company’s stock worth $5,549,000 after purchasing an additional 378,860 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on ABEO shares. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Abeona Therapeutics in a research report on Thursday, May 28th. Oppenheimer reaffirmed an “outperform” rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. Wall Street Zen raised Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Monday, June 1st. Finally, Stifel Nicolaus set a $17.00 price objective on Abeona Therapeutics in a research report on Tuesday, March 17th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Abeona Therapeutics currently has a consensus rating of “Hold” and an average target price of $19.00.

About Abeona Therapeutics

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.