Abeona Therapeutics (NASDAQ:ABEO) Director Mark Alvino Sells 6,500 Shares of Stock

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

Abeona Therapeutics Trading Down 1.4%

Abeona Therapeutics stock opened at $5.44 on Friday. Abeona Therapeutics Inc. has a 1 year low of $4.00 and a 1 year high of $7.54. The firm’s 50 day moving average price is $5.12 and its two-hundred day moving average price is $5.05. The firm has a market cap of $310.03 million, a price-to-earnings ratio of 5.61 and a beta of 1.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.70 and a current ratio of 5.89.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc bought a new stake in shares of Abeona Therapeutics during the 2nd quarter worth $27,000. Royal Bank of Canada boosted its holdings 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 worth $29,000 after buying an additional 2,155 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Abeona Therapeutics during the 3rd quarter worth $37,000. Truvestments Capital LLC boosted its holdings in shares of Abeona Therapeutics by 191.4% during the 4th quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 6,770 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Abeona Therapeutics during the 4th quarter worth $57,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

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.