Leila Alland Sells 11,000 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) Director Leila Alland sold 11,000 shares of Abeona Therapeutics stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $5.92, for a total transaction of $65,120.00. Following the sale, the director owned 162,614 shares of the company’s stock, valued at approximately $962,674.88. The trade was a 6.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Abeona Therapeutics Price Performance

Shares of NASDAQ:ABEO opened at $6.40 on Friday. Abeona Therapeutics Inc. has a 52-week low of $4.00 and a 52-week high of $7.54. The firm has a fifty day moving average of $5.64 and a 200 day moving average of $5.26. The firm has a market capitalization of $364.74 million, a PE ratio of 6.60 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 released its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. The firm had revenue of $8.72 million during the quarter, compared to the consensus estimate of $4.57 million. As a group, research analysts anticipate that Abeona Therapeutics Inc. will post -0.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABEO. Wall Street Zen upgraded 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 target price on Abeona Therapeutics in a research report on Tuesday, March 17th. Oppenheimer reaffirmed an “outperform” rating on shares of Abeona Therapeutics in a research note on Monday, March 9th. Weiss Ratings upgraded shares of Abeona Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Hedge Funds Weigh In On Abeona Therapeutics

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

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.