Mark Alvino Sells 15,000 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) Director Mark Alvino sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $4.74, for a total transaction of $71,100.00. Following the transaction, the director directly owned 62,252 shares of the company’s stock, valued at $295,074.48. The trade was a 19.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Abeona Therapeutics Trading Down 1.8%

Shares of ABEO stock opened at $4.45 on Friday. The company has a current ratio of 6.73, a quick ratio of 6.65 and a debt-to-equity ratio of 0.09. Abeona Therapeutics Inc. has a 12-month low of $3.93 and a 12-month high of $7.54. The stock has a market capitalization of $241.15 million, a P/E ratio of 6.36 and a beta of 1.45. The firm’s 50 day moving average is $5.34 and its 200 day moving average is $5.98.

Abeona Therapeutics (NASDAQ:ABEO) last posted its earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.17. Research analysts expect that Abeona Therapeutics Inc. will post -1.16 earnings per share for the current year.

Institutional Trading of Abeona Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Boone Capital Management LLC bought a new position in shares of Abeona Therapeutics during the 2nd quarter valued at approximately $7,126,000. Geode Capital Management LLC raised its stake in Abeona Therapeutics by 129.1% during the second quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock valued at $6,282,000 after purchasing an additional 623,243 shares in the last quarter. Cable Car Capital LP purchased a new stake in Abeona Therapeutics during the third quarter valued at $3,168,000. JPMorgan Chase & Co. lifted its position in Abeona Therapeutics by 255.6% during the second quarter. JPMorgan Chase & Co. now owns 831,132 shares of the biopharmaceutical company’s stock valued at $4,721,000 after purchasing an additional 597,373 shares during the last quarter. Finally, Nan Fung Trinity HK Ltd. purchased a new position in shares of Abeona Therapeutics in the 2nd quarter worth $3,185,000. Institutional investors own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Weiss Ratings downgraded shares of Abeona Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 24th. Oppenheimer upped their target price on shares of Abeona Therapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, August 15th. Wall Street Zen cut Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Finally, HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a research report on Monday, October 13th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.00.

About Abeona Therapeutics

Abeona Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and delivering gene therapy products for severe and life-threatening rare diseases. The company's lead programs are EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB); ABO-102, which are AAV based gene therapies for Sanfilippo syndrome type A; and ABO-101, an adeno-associated virus (AAV) based gene therapies for Sanfilippo syndrome type B.