Key Points
- Insider sale: Abeona Therapeutics insider Madhav Vasanthavada sold 5,548 shares at $5.96 each, totaling about $33,066. The filing says the sale was to cover tax withholding obligations tied to vested equity awards.
- Company snapshot: ABEO last traded around $5.86, giving the biopharmaceutical company a market cap of roughly $333 million. The stock has ranged from $4.00 to $7.54 over the past 52 weeks.
- Analyst outlook: Wall Street remains cautiously positive, with a consensus rating of Moderate Buy and an average price target of $19.00. Recent reports included buy ratings from HC Wainwright, Stifel, and Oppenheimer, though Weiss Ratings maintained a sell rating.
Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) insider Madhav Vasanthavada sold 5,548 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $5.96, for a total transaction of $33,066.08. Following the sale, the insider owned 313,071 shares in the company, valued at approximately $1,865,903.16. This trade represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Abeona Therapeutics Price Performance
Abeona Therapeutics stock opened at $5.86 on Tuesday. The firm has a market cap of $333.32 million, a PE ratio of 5.69 and a beta of 1.35. Abeona Therapeutics Inc. has a 52-week low of $4.00 and a 52-week high of $7.54. The company has a quick ratio of 6.74, a current ratio of 6.93 and a debt-to-equity ratio of 0.05. The company's 50 day moving average is $5.04 and its two-hundred day moving average is $5.04.
Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last released its earnings results on Tuesday, March 17th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.01. The business had revenue of $3.00 million for the quarter, compared to analyst estimates of $5.65 million. On average, research analysts expect that Abeona Therapeutics Inc. will post -0.73 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
ABEO has been the topic of a number of recent analyst reports. HC Wainwright reissued a "buy" rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a research report on Thursday, March 19th. Stifel Nicolaus set a $17.00 price objective on shares of Abeona Therapeutics in a research report on Tuesday, March 17th. Weiss Ratings reissued a "sell (d+)" rating on shares of Abeona Therapeutics in a research report on Wednesday, January 21st. Finally, Oppenheimer restated an "outperform" rating on shares of Abeona Therapeutics in a research note on Monday, March 9th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Abeona Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.
Read Our Latest Research Report on ABEO
Institutional Trading of Abeona Therapeutics
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Legato Capital Management LLC lifted its stake in shares of Abeona Therapeutics by 21.0% in the fourth quarter. Legato Capital Management LLC now owns 13,180 shares of the biopharmaceutical company's stock valued at $69,000 after purchasing an additional 2,290 shares during the period. Deutsche Bank AG raised its position in Abeona Therapeutics by 6.2% during the fourth quarter. Deutsche Bank AG now owns 39,368 shares of the biopharmaceutical company's stock worth $207,000 after acquiring an additional 2,303 shares during the last quarter. LPL Financial LLC raised its position in Abeona Therapeutics by 5.3% during the fourth quarter. LPL Financial LLC now owns 62,873 shares of the biopharmaceutical company's stock worth $331,000 after acquiring an additional 3,165 shares during the last quarter. Riverwater Partners LLC raised its position in Abeona Therapeutics by 22.2% during the fourth quarter. Riverwater Partners LLC now owns 19,375 shares of the biopharmaceutical company's stock worth $102,000 after acquiring an additional 3,518 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Abeona Therapeutics by 19.6% during the third quarter. Intech Investment Management LLC now owns 25,176 shares of the biopharmaceutical company's stock worth $133,000 after buying an additional 4,127 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.
Abeona Therapeutics Company Profile
(
Get Free Report)
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.
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