Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) SVP Sells $34,711.32 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) SVP Brendan O’malley sold 6,727 shares of the company’s stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $5.16, for a total transaction of $34,711.32. Following the completion of the sale, the senior vice president directly owned 421,226 shares in the company, valued at $2,173,526.16. This trade represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Abeona Therapeutics Trading Down 4.6%

Shares of Abeona Therapeutics stock opened at $5.01 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.63 and a quick ratio of 6.40. The firm has a fifty day moving average price of $6.02 and a 200 day moving average price of $5.73. Abeona Therapeutics Inc. has a 1 year low of $4.00 and a 1 year high of $7.65. The stock has a market cap of $286.47 million, a PE ratio of -4.60 and a beta of 1.31.

Abeona Therapeutics (NASDAQ:ABEO) last posted its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The company had revenue of $11.38 million for the quarter, compared to the consensus estimate of $12.24 million. Equities research analysts predict that Abeona Therapeutics Inc. will post -0.88 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ABEO shares. Weiss Ratings cut Abeona Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, August 17th. Wall Street Zen upgraded Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. Oppenheimer reissued an “outperform” rating and issued a $21.00 price target (down from $22.00) on shares of Abeona Therapeutics in a report on Friday, August 14th. Roth Capital began coverage on Abeona Therapeutics in a research report on Thursday, September 17th. They issued a “buy” rating and a $17.00 price objective on the stock. Finally, UBS Group restated a “buy” rating on shares of Abeona Therapeutics in a research report on Friday, September 25th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Institutional Investors Weigh In On Abeona Therapeutics

Several hedge funds have recently modified their holdings of ABEO. Royal Bank of Canada grew its position in shares of Abeona Therapeutics by 49.6% during the 1st 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 during the period. Riverwater Partners LLC increased its stake in shares of Abeona Therapeutics by 22.2% in the 4th quarter. Riverwater Partners LLC now owns 19,375 shares of the biopharmaceutical company’s stock valued at $102,000 after purchasing an additional 3,518 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in Abeona Therapeutics in the 1st quarter worth about $154,000. AXQ Capital LP acquired a new position in Abeona Therapeutics in the 4th quarter worth about $177,000. Finally, WINTON GROUP Ltd purchased a new position in Abeona Therapeutics during the second quarter worth approximately $256,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Abeona Therapeutics Company Profile

Abeona Therapeutics Inc is a biopharmaceutical company focused on developing and commercializing cell and gene therapies for patients with serious and life-threatening genetic diseases. The company’s programs are designed to address conditions for which existing treatment options are limited or inadequate.

Abeona’s lead product, ZEVASKYN (prademagene zamikeracel, formerly EB-101), is an autologous gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa, a rare inherited disorder that causes fragile skin and chronic wounds.