Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) Director Sells $87,900.00 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) Director Mark Alvino sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $5.86, for a total transaction of $87,900.00. Following the completion of the sale, the director directly owned 62,065 shares of the company’s stock, valued at approximately $363,700.90. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Abeona Therapeutics Trading Up 2.2%

Shares of NASDAQ:ABEO traded up $0.13 during trading on Tuesday, reaching $5.98. 683,706 shares of the company were exchanged, compared to its average volume of 1,257,775. The business’s fifty day simple moving average is $6.41 and its 200-day simple moving average is $5.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.63 and a quick ratio of 6.40. Abeona Therapeutics Inc. has a 12-month low of $4.00 and a 12-month high of $7.65. The firm has a market capitalization of $341.94 million, a PE ratio of -5.49 and a beta of 1.35.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $12.24 million. On average, research analysts anticipate that Abeona Therapeutics Inc. will post -0.93 EPS for the current year.

Institutional Trading of Abeona Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Corient Private Wealth LP purchased a new position in shares of Abeona Therapeutics in the 2nd quarter valued at $556,000. Pale Fire Capital SE raised its position in shares of Abeona Therapeutics by 17.3% in the 2nd quarter. Pale Fire Capital SE now owns 81,945 shares of the biopharmaceutical company’s stock worth $506,000 after acquiring an additional 12,100 shares in the last quarter. Headlands Technologies LLC lifted its stake in shares of Abeona Therapeutics by 97.5% during the 2nd quarter. Headlands Technologies LLC now owns 125,090 shares of the biopharmaceutical company’s stock worth $773,000 after purchasing an additional 61,745 shares during the last quarter. AWM Investment Company Inc. purchased a new stake in shares of Abeona Therapeutics during the 2nd quarter worth $9,184,000. Finally, Bank of New York Mellon Corp bought a new stake in Abeona Therapeutics during the second quarter valued at about $1,262,000. Institutional investors own 80.56% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Oppenheimer reissued an “outperform” rating and set a $21.00 price target (down from $22.00) on shares of Abeona Therapeutics in a research report on Friday, August 14th. Weiss Ratings lowered shares of Abeona Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 17th. HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a report on Thursday, May 28th. Finally, Wall Street Zen raised shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Abeona Therapeutics has an average rating of “Hold” and an average price target of $19.33.

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.