Key Points
- Director Eric Crombez sold 26,143 Abeona Therapeutics shares on May 15 at an average price of $5.53, for proceeds of about $144,571. The sale reduced his ownership by 41.2% and was made under a pre-arranged Rule 10b5-1 trading plan.
- Abeona Therapeutics recently beat quarterly expectations, reporting a loss of $0.30 per share versus the expected $0.33 loss and revenue of $8.72 million versus $4.57 million estimated.
- Wall Street remains mixed on the stock, with a consensus rating of “Hold” and an average price target of $19.00, while the shares were trading around $5.49 and institutional investors still owned about 80.56% of the company.
Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) Director Eric Crombez sold 26,143 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $5.53, for a total value of $144,570.79. Following the transaction, the director owned 37,313 shares in the company, valued at $206,340.89. This trade represents a 41.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Abeona Therapeutics Price Performance
Shares of Abeona Therapeutics stock opened at $5.49 on Friday. The company has a current ratio of 5.89, a quick ratio of 6.74 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $312.88 million, a PE ratio of 5.66 and a beta of 1.35. The business's 50-day moving average price is $5.09 and its 200-day moving average price is $5.05. Abeona Therapeutics Inc. has a 12 month low of $4.00 and a 12 month high of $7.54.
Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.03. The firm had revenue of $8.72 million for the quarter, compared to the consensus estimate of $4.57 million. Sell-side analysts forecast that Abeona Therapeutics Inc. will post -0.73 EPS for the current fiscal year.
Institutional Investors Weigh In On Abeona Therapeutics
Several institutional investors and hedge funds have recently bought and sold shares of the business. Legato Capital Management LLC lifted its holdings in Abeona Therapeutics by 21.0% in the 4th quarter. Legato Capital Management LLC now owns 13,180 shares of the biopharmaceutical company's stock worth $69,000 after buying an additional 2,290 shares during the period. Deutsche Bank AG lifted its holdings in Abeona Therapeutics by 6.2% in the 4th quarter. Deutsche Bank AG now owns 39,368 shares of the biopharmaceutical company's stock worth $207,000 after buying an additional 2,303 shares during the period. Rangeley Capital LLC lifted its holdings in Abeona Therapeutics by 4.2% in the 1st quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company's stock worth $269,000 after buying an additional 2,400 shares during the period. LPL Financial LLC lifted its holdings in Abeona Therapeutics by 5.3% in the 4th quarter. LPL Financial LLC now owns 62,873 shares of the biopharmaceutical company's stock worth $331,000 after buying an additional 3,165 shares during the period. Finally, Riverwater Partners LLC lifted its holdings in Abeona Therapeutics by 22.2% in the 4th quarter. Riverwater Partners LLC now owns 19,375 shares of the biopharmaceutical company's stock worth $102,000 after buying an additional 3,518 shares during the period. Hedge funds and other institutional investors own 80.56% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on ABEO shares. Weiss Ratings restated a "sell (d+)" rating on shares of Abeona Therapeutics in a report on Wednesday, January 21st. Stifel Nicolaus set a $17.00 target price on Abeona Therapeutics in a report on Tuesday, March 17th. HC Wainwright restated a "buy" rating and set a $20.00 target price on shares of Abeona Therapeutics in a report on Thursday, March 19th. Oppenheimer restated an "outperform" rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Finally, Wall Street Zen upgraded Abeona Therapeutics from a "strong sell" rating to a "sell" rating in a report on Saturday. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $19.00.
View Our Latest Report on Abeona Therapeutics
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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