Abeona Therapeutics (NASDAQ:ABEO) Issues Quarterly Earnings Results

Abeona Therapeutics (NASDAQ:ABEO) issued its earnings results on Monday. The biopharmaceutical company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06, FiscalAI reports. The company had revenue of $13.49 million during the quarter, compared to the consensus estimate of $14.82 million.

Abeona Therapeutics Stock Performance

NASDAQ:ABEO opened at $4.17 on Monday. Abeona Therapeutics has a one year low of $3.91 and a one year high of $7.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.40 and a current ratio of 6.63. The firm has a market cap of $238.44 million, a P/E ratio of -3.83 and a beta of 1.50. The firm has a 50-day simple moving average of $5.05 and a 200-day simple moving average of $5.46.

Insider Activity

In related news, insider Madhav Vasanthavada sold 4,902 shares of the business’s stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $5.16, for a total value of $25,294.32. Following the completion of the transaction, the insider owned 285,721 shares of the company’s stock, valued at $1,474,320.36. The trade was a 1.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mark Alvino sold 15,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $5.86, for a total value of $87,900.00. Following the sale, the director owned 62,065 shares of the company’s stock, valued at approximately $363,700.90. This represents a 19.46% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 55,428 shares of company stock valued at $296,508. 7.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABEO. Wall Street Zen raised shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. Oppenheimer restated an “outperform” rating and set a $21.00 price objective (down from $22.00) on shares of Abeona Therapeutics in a report on Friday, August 14th. HC Wainwright restated a “buy” rating on shares of Abeona Therapeutics in a report on Friday, September 25th. Cantor Fitzgerald lifted their target price on Abeona Therapeutics from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, September 18th. Finally, UBS Group reissued a “buy” rating on shares of Abeona Therapeutics in a research report on Friday, September 25th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Abeona Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $21.00.

About Abeona Therapeutics

Abeona Therapeutics Inc (NASDAQ: ABEO) is a biopharmaceutical company focused on developing and commercializing cell and gene therapies for serious and rare genetic diseases. The company’s programs are designed to address conditions with limited treatment options, including diseases caused by genetic defects affecting the skin and other tissues.

Abeona’s lead product, prademagene zamikeracel, is an autologous cell therapy for recessive dystrophic epidermolysis bullosa (RDEB), a rare inherited disorder that causes fragile skin and chronic wounds.