Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) SVP Sells 12,050 Shares

Abeona Therapeutics Inc. (NASDAQ:ABEO) SVP Brendan O’malley sold 12,050 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $6.96, for a total transaction of $83,868.00. Following the transaction, the senior vice president owned 427,953 shares in the company, valued at approximately $2,978,552.88. The trade was a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Abeona Therapeutics Trading Up 4.7%

Abeona Therapeutics stock traded up $0.32 during trading on Thursday, reaching $7.12. The company had a trading volume of 2,608,182 shares, compared to its average volume of 1,352,993. Abeona Therapeutics Inc. has a 12-month low of $4.00 and a 12-month high of $7.54. The stock’s 50 day moving average price is $5.75 and its two-hundred day moving average price is $5.31. The firm has a market capitalization of $405.77 million, a price-to-earnings ratio of 7.34 and a beta of 1.34. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.70 and a current ratio of 5.89.

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. The company had revenue of $8.72 million for the quarter, compared to analysts’ expectations of $4.57 million. As a group, equities analysts expect that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Abeona Therapeutics

Several institutional investors have recently bought and sold shares of ABEO. Legal & General Group Plc acquired a new stake in shares of Abeona Therapeutics in the second quarter worth $27,000. Royal Bank of Canada boosted its position in Abeona Therapeutics by 49.6% during the 1st quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 2,155 shares during the period. Russell Investments Group Ltd. purchased a new stake in Abeona Therapeutics during the 3rd quarter worth $37,000. Truvestments Capital LLC increased its holdings in Abeona Therapeutics by 191.4% in the 4th quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 6,770 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Abeona Therapeutics in the 4th quarter valued at $57,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ABEO has been the topic of several research reports. Weiss Ratings raised Abeona Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Wall Street Zen raised 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 issued a $20.00 price objective on shares of Abeona Therapeutics in a report on Thursday, May 28th. Finally, Stifel Nicolaus set a $17.00 price objective on Abeona Therapeutics in a report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Abeona Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

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.