Abeona Therapeutics (NASDAQ:ABEO) Raised to Sell at Wall Street Zen

Abeona Therapeutics (NASDAQ:ABEO) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other analysts have also commented on the stock. Weiss Ratings raised shares of Abeona Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a research report on Thursday, May 28th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Abeona Therapeutics Stock Performance

Shares of Abeona Therapeutics stock opened at $6.42 on Friday. Abeona Therapeutics has a 1 year low of $4.00 and a 1 year high of $7.54. The firm has a market cap of $365.88 million, a PE ratio of 6.62 and a beta of 1.35. The stock has a fifty day moving average price of $6.07 and a 200-day moving average price of $5.46. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.89 and a quick ratio of 5.70.

Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results 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 business had revenue of $8.72 million for the quarter, compared to the consensus estimate of $4.57 million. Equities research analysts anticipate that Abeona Therapeutics will post -0.79 EPS for the current year.

Insider Buying and Selling

In other news, Director Leila Alland sold 11,000 shares of Abeona Therapeutics stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $5.92, for a total value of $65,120.00. Following the completion of the transaction, the director owned 162,614 shares in the company, valued at $962,674.88. This trade represents a 6.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brendan M. O’malley sold 12,050 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $6.96, for a total transaction of $83,868.00. Following the completion of the sale, the senior vice president directly owned 427,953 shares in the company, valued at approximately $2,978,552.88. This trade represents a 2.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 312,769 shares of company stock worth $1,887,560 in the last quarter. 7.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Abeona Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. AIGH Capital Management LLC purchased a new position in shares of Abeona Therapeutics in the fourth quarter valued at $10,540,000. Tang Capital Management LLC purchased a new stake in Abeona Therapeutics during the 4th quarter worth about $5,270,000. Geode Capital Management LLC lifted its holdings in Abeona Therapeutics by 129.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock worth $6,282,000 after purchasing an additional 623,243 shares in the last quarter. Aberdeen Group plc bought a new position in Abeona Therapeutics in the 4th quarter worth about $3,248,000. Finally, Cable Car Capital LP bought a new position in Abeona Therapeutics in the 3rd quarter worth about $3,168,000. 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.