Abeona Therapeutics (NASDAQ:ABEO) Director Christine Berni Silverstein Sells 18,160 Shares

Abeona Therapeutics Inc. (NASDAQ:ABEO) Director Christine Berni Silverstein sold 18,160 shares of Abeona Therapeutics stock in a transaction on Monday, June 15th. The shares were sold at an average price of $5.71, for a total value of $103,693.60. Following the sale, the director directly owned 119,562 shares of the company’s stock, valued at $682,699.02. This represents a 13.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Abeona Therapeutics Price Performance

NASDAQ:ABEO traded up $0.14 during trading hours on Monday, hitting $5.67. 620,439 shares of the company’s stock traded hands, compared to its average volume of 847,661. The firm has a market cap of $323.13 million, a P/E ratio of 5.85 and a beta of 1.35. Abeona Therapeutics Inc. has a 52 week low of $4.00 and a 52 week high of $7.54. The business’s fifty day simple moving average is $5.45 and its two-hundred day simple moving average is $5.19. The company has a quick ratio of 5.70, a current ratio of 5.89 and a debt-to-equity ratio of 0.03.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on ABEO shares. Wall Street Zen upgraded Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Monday, June 1st. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Abeona Therapeutics in a research report on Thursday, May 28th. Oppenheimer restated an “outperform” rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. Finally, Stifel Nicolaus set a $17.00 price target on Abeona Therapeutics in a research report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.00.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ABEO. Goldman Sachs Group Inc. increased its holdings in shares of Abeona Therapeutics by 49.6% in the first quarter. Goldman Sachs Group Inc. now owns 200,450 shares of the biopharmaceutical company’s stock worth $954,000 after buying an additional 66,422 shares during the period. Geode Capital Management LLC increased its holdings in shares of Abeona Therapeutics by 129.1% in the second quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock worth $6,282,000 after buying an additional 623,243 shares during the period. Creative Planning increased its holdings in shares of Abeona Therapeutics by 43.0% in the second quarter. Creative Planning now owns 14,310 shares of the biopharmaceutical company’s stock worth $81,000 after buying an additional 4,305 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Abeona Therapeutics by 255.6% in the second quarter. JPMorgan Chase & Co. now owns 831,132 shares of the biopharmaceutical company’s stock worth $4,721,000 after buying an additional 597,373 shares during the period. Finally, Legal & General Group Plc purchased a new position in shares of Abeona Therapeutics in the second quarter worth about $27,000. Hedge funds and other institutional investors 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.