Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) Director Sells 6,500 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) Director Mark Alvino sold 6,500 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $5.46, for a total transaction of $35,490.00. Following the sale, the director owned 77,565 shares of the company’s stock, valued at $423,504.90. This trade represents a 7.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Abeona Therapeutics Stock Down 1.4%

ABEO traded down $0.08 during midday trading on Friday, reaching $5.44. 671,499 shares of the company were exchanged, compared to its average volume of 1,206,088. 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’s fifty day moving average price is $5.12 and its 200 day moving average price is $5.05. The company has a market cap of $310.03 million, a price-to-earnings ratio of 5.61 and a beta of 1.35. Abeona Therapeutics Inc. has a one year low of $4.00 and a one year high of $7.54.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. The company had revenue of $8.72 million for the quarter, compared to the consensus estimate of $4.57 million. As a group, analysts expect that Abeona Therapeutics Inc. will post -0.79 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on ABEO. Wall Street Zen raised Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Stifel Nicolaus set a $17.00 target price on shares of Abeona Therapeutics in a research note on Tuesday, March 17th. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of Abeona Therapeutics in a research note on Thursday, March 19th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Abeona Therapeutics in a research note on Monday, March 9th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Abeona Therapeutics has a consensus rating of “Hold” and a consensus price target of $19.00.

Hedge Funds Weigh In On Abeona Therapeutics

Institutional investors have recently modified their holdings of the business. Legal & General Group Plc bought a new position in shares of Abeona Therapeutics in the second quarter valued at approximately $27,000. Royal Bank of Canada grew its holdings in shares of Abeona Therapeutics by 49.6% in the first quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 2,155 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Abeona Therapeutics in the third quarter valued at approximately $37,000. Truvestments Capital LLC grew its holdings in shares of Abeona Therapeutics by 191.4% in the fourth quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 6,770 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Abeona Therapeutics in the fourth quarter valued at approximately $57,000. 80.56% of the stock is owned by institutional investors.

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.