Abeona Therapeutics (NASDAQ:ABEO) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Abeona Therapeutics (NASDAQ:ABEO) posted its earnings results on Tuesday. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01), FiscalAI reports. The firm had revenue of $3.00 million for the quarter, compared to the consensus estimate of $5.65 million.

Abeona Therapeutics Price Performance

ABEO opened at $4.95 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.74 and a quick ratio of 9.53. The stock has a market capitalization of $268.24 million, a P/E ratio of 4.02 and a beta of 1.13. The company’s 50 day simple moving average is $5.12 and its 200-day simple moving average is $5.25. Abeona Therapeutics has a one year low of $3.93 and a one year high of $7.54.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ABEO. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Abeona Therapeutics in a report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of Abeona Therapeutics in a research note on Wednesday, January 21st. Finally, Oppenheimer restated an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.00.

Insider Transactions at Abeona Therapeutics

In other Abeona Therapeutics news, Director Eric Crombez sold 16,284 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $5.09, for a total transaction of $82,885.56. Following the transaction, the director owned 63,456 shares of the company’s stock, valued at approximately $322,991.04. This represents a 20.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leila Alland sold 18,065 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $5.09, for a total value of $91,950.85. Following the completion of the transaction, the director owned 173,614 shares in the company, valued at $883,695.26. The trade was a 9.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 209,605 shares of company stock worth $1,101,300 over the last ninety days. 5.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Abeona Therapeutics

Several hedge funds have recently added to or reduced their stakes in ABEO. Legal & General Group Plc bought a new stake in Abeona Therapeutics during the 2nd quarter worth about $27,000. Russell Investments Group Ltd. bought a new position in shares of Abeona Therapeutics in the 3rd quarter valued at about $37,000. Truvestments Capital LLC boosted its stake in shares of Abeona Therapeutics by 191.4% in the 4th quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 6,770 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in shares of Abeona Therapeutics during the 3rd quarter worth approximately $64,000. Finally, Man Group plc bought a new stake in shares of Abeona Therapeutics during the second quarter worth approximately $67,000. Institutional investors own 80.56% of the company’s stock.

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.