Key Points
- Director Mark Alvino sold 6,500 shares of Abeona Therapeutics at an average price of $5.46, totaling $35,490. After the sale, he still held 77,565 shares, reducing his ownership by 7.73%.
- Abeona reported better-than-expected quarterly results, posting a loss of $0.30 per share versus the expected $0.33 loss, while revenue of $8.72 million also beat estimates.
- Analyst sentiment remains mixed but generally cautious, with a consensus rating of “Hold” and an average price target of $19.00, despite some firms maintaining buy ratings.
Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) Director Mark Alvino sold 6,500 shares of the company's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $5.46, for a total transaction of $35,490.00. Following the sale, the director directly owned 77,565 shares of the company's stock, valued at approximately $423,504.90. This represents a 7.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Abeona Therapeutics Price Performance
NASDAQ ABEO opened at $5.44 on Friday. The company has a current ratio of 5.89, a quick ratio of 5.70 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $5.12 and a 200 day simple moving average of $5.05. The company has a market cap of $310.03 million, a P/E ratio of 5.61 and a beta of 1.35. Abeona Therapeutics Inc. has a 1 year low of $4.00 and a 1 year high of $7.54.
Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping 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. On average, sell-side analysts predict that Abeona Therapeutics Inc. will post -0.79 EPS for the current year.
Institutional Trading of Abeona Therapeutics
A number of hedge funds have recently bought and sold shares of the stock. AIGH Capital Management LLC boosted its holdings in Abeona Therapeutics by 55.0% in the 1st quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company's stock valued at $13,888,000 after purchasing an additional 1,100,000 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in shares of Abeona Therapeutics by 14.2% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,072,985 shares of the biopharmaceutical company's stock valued at $17,455,000 after buying an additional 381,357 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Abeona Therapeutics by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,602,901 shares of the biopharmaceutical company's stock valued at $13,743,000 after buying an additional 95,878 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Abeona Therapeutics by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,137,127 shares of the biopharmaceutical company's stock valued at $5,994,000 after buying an additional 9,996 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its stake in shares of Abeona Therapeutics by 56.4% in the 3rd quarter. Kennedy Capital Management LLC now owns 1,050,863 shares of the biopharmaceutical company's stock valued at $5,549,000 after buying an additional 378,860 shares in the last quarter. 80.56% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the stock. Oppenheimer reissued an "outperform" rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Wall Street Zen raised shares of Abeona Therapeutics from a "strong sell" rating to a "sell" rating in a report on Saturday, May 16th. HC Wainwright reissued a "buy" rating and issued a $20.00 price target on shares of Abeona Therapeutics in a report on Thursday, March 19th. Finally, Stifel Nicolaus set a $17.00 price target on shares of Abeona Therapeutics in a report on Tuesday, March 17th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $19.00.
Read Our Latest Stock Analysis 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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