Key Points
- Director Christine Berni Silverstein sold 18,160 shares of Abeona Therapeutics on June 15 at an average price of $5.71, totaling about $103,694. The sale reduced her direct holdings by 13.19%, and the filing says it was to cover tax withholding tied to vesting equity awards.
- Abeona reported better-than-expected quarterly results, posting a loss of $0.30 per share versus estimates of a $0.33 loss and revenue of $8.72 million versus expectations of $4.57 million. Analysts still forecast a full-year loss of $0.79 per share.
- Wall Street remains cautiously optimistic on ABEO, with a consensus rating of “Hold” and an average price target of $19.00. Recent analyst views include buy ratings from Stifel Nicolaus and HC Wainwright, though Wall Street Zen recently downgraded the stock from “strong sell” to “sell.”
Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) Director Christine Berni Silverstein sold 18,160 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $5.71, for a total transaction of $103,693.60. Following the completion of the transaction, the director directly owned 119,562 shares of the company's stock, valued at approximately $682,699.02. The trade was a 13.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Abeona Therapeutics Price Performance
Shares of NASDAQ:ABEO opened at $5.67 on Tuesday. The company has a market cap of $323.13 million, a price-to-earnings ratio of 5.85 and a beta of 1.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.89 and a quick ratio of 5.70. The firm has a 50 day simple moving average of $5.45 and a 200 day simple moving average of $5.19. Abeona Therapeutics Inc. has a one year low of $4.00 and a one year high of $7.54.
Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last issued 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 company had revenue of $8.72 million during the quarter, compared to the consensus estimate of $4.57 million. Research analysts predict that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Abeona Therapeutics
Several large investors have recently modified their holdings of ABEO. Legal & General Group Plc bought a new position in Abeona Therapeutics during the second quarter worth $27,000. Royal Bank of Canada raised its stake in Abeona Therapeutics by 49.6% during 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 last quarter. Russell Investments Group Ltd. bought a new position in Abeona Therapeutics during the third quarter worth $37,000. Truvestments Capital LLC raised its stake in Abeona Therapeutics by 191.4% during the fourth quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company's stock worth $54,000 after buying an additional 6,770 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Abeona Therapeutics during the fourth quarter worth $57,000. Institutional investors own 80.56% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on ABEO shares. Stifel Nicolaus set a $17.00 price target on shares of Abeona Therapeutics in a research note on Tuesday, March 17th. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price target on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Oppenheimer reaffirmed an "outperform" rating on shares of Abeona Therapeutics in a research note on Monday, March 9th. Finally, Wall Street Zen raised shares of Abeona Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Monday, June 1st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $19.00.
Check Out Our Latest Analysis on ABEO
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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