Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) Director Sells $87,900.00 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) Director Mark Alvino sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $5.86, for a total value of $87,900.00. Following the completion of the sale, the director directly owned 62,065 shares of the company’s stock, valued at approximately $363,700.90. The trade was a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Abeona Therapeutics Stock Performance

Shares of NASDAQ ABEO opened at $5.93 on Friday. The company has a current ratio of 6.63, a quick ratio of 6.40 and a debt-to-equity ratio of 0.01. Abeona Therapeutics Inc. has a 12 month low of $4.00 and a 12 month high of $7.65. The stock has a 50 day moving average of $6.43 and a 200-day moving average of $5.67. The company has a market capitalization of $339.08 million, a P/E ratio of -5.44 and a beta of 1.33.

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The company had revenue of $11.38 million during the quarter, compared to analyst estimates of $12.24 million. As a group, equities research analysts predict that Abeona Therapeutics Inc. will post -0.93 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ABEO. Wall Street Zen raised shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Weiss Ratings cut shares of Abeona Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, August 17th. Finally, Oppenheimer restated an “outperform” rating and set a $21.00 price objective (down from $22.00) on shares of Abeona Therapeutics in a research report on Friday, August 14th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Abeona Therapeutics currently has a consensus rating of “Hold” and an average target price of $19.33.

Institutional Investors Weigh In On Abeona Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AIGH Capital Management LLC boosted its position in shares of Abeona Therapeutics by 55.0% in the first quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company’s stock valued at $13,888,000 after acquiring an additional 1,100,000 shares during the period. Adage Capital Partners GP L.L.C. increased its position in Abeona Therapeutics by 14.2% during the second 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 acquiring an additional 381,357 shares during the period. Vanguard Group Inc. increased its position in Abeona Therapeutics by 3.8% during the third quarter. Vanguard Group Inc. now owns 2,602,901 shares of the biopharmaceutical company’s stock worth $13,743,000 after acquiring an additional 95,878 shares during the period. AWM Investment Company Inc. acquired a new stake in Abeona Therapeutics in the 2nd quarter worth about $9,184,000. Finally, Geode Capital Management LLC raised its stake in 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. Institutional investors and hedge funds own 80.56% of the company’s stock.

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.