Abeona Therapeutics (NASDAQ:ABEO) SVP Sells $26,205.18 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) SVP Brendan O’malley sold 4,826 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $5.43, for a total value of $26,205.18. Following the completion of the sale, the senior vice president owned 446,308 shares of the company’s stock, valued at $2,423,452.44. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Abeona Therapeutics Trading Up 3.2%

ABEO opened at $5.53 on Friday. The firm has a market cap of $315.15 million, a price-to-earnings ratio of 5.70 and a beta of 1.35. The company has a current ratio of 5.89, a quick ratio of 5.70 and a debt-to-equity ratio of 0.03. Abeona Therapeutics Inc. has a 12 month low of $4.00 and a 12 month high of $7.54. The stock has a fifty day moving average price of $5.42 and a 200-day moving average price of $5.17.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada increased 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 valued at $29,000 after buying an additional 2,155 shares in the last quarter. Rangeley Capital LLC increased its position in Abeona Therapeutics by 4.2% during the 1st quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company’s stock valued at $269,000 after buying an additional 2,400 shares in the last quarter. Renaissance Technologies LLC increased its position in Abeona Therapeutics by 38.6% during the 1st quarter. Renaissance Technologies LLC now owns 161,082 shares of the biopharmaceutical company’s stock valued at $722,000 after buying an additional 44,882 shares in the last quarter. Sei Investments Co. increased its position in Abeona Therapeutics by 142.4% during the 1st quarter. Sei Investments Co. now owns 172,460 shares of the biopharmaceutical company’s stock valued at $773,000 after buying an additional 101,307 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in Abeona Therapeutics during the 1st quarter valued at about $154,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on ABEO shares. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Abeona Therapeutics in a research report on Thursday, May 28th. Wall Street Zen raised Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Monday, June 1st. Stifel Nicolaus set a $17.00 price target on Abeona Therapeutics in a research report on Tuesday, March 17th. Finally, Oppenheimer reissued an “outperform” rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.00.

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.