Key Points
- Director Leila Alland sold 11,000 shares of Abeona Therapeutics on June 30 at an average price of $5.92, totaling about $65,120. After the sale, she still held 162,614 shares, representing a 6.34% reduction in her position.
- Abeona recently beat quarterly expectations, reporting a loss of $0.30 per share versus the expected $0.33 loss, while revenue came in at $8.72 million, well above the $4.57 million consensus.
- Analyst sentiment remains moderately positive, with a consensus rating of “Moderate Buy” and an average target price of $19.00, even as the stock traded around $6.40 and remains far below that target.
Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) Director Leila Alland sold 11,000 shares of Abeona Therapeutics stock in a transaction dated 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 $962,674.88. The trade was a 6.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Abeona Therapeutics Price Performance
Abeona Therapeutics stock opened at $6.40 on Friday. 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 stock has a market cap of $364.74 million, a price-to-earnings ratio of 6.60 and a beta of 1.34. The firm has a 50-day moving average of $5.63 and a two-hundred day moving average of $5.25. 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 issued its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.33) by $0.03. The company had revenue of $8.72 million for the quarter, compared to analysts' expectations of $4.57 million. On average, research analysts forecast that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research firms have commented on ABEO. Stifel Nicolaus set a $17.00 price objective on Abeona Therapeutics in a report on Tuesday, March 17th. Weiss Ratings upgraded Abeona Therapeutics from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday. Wall Street Zen raised Abeona Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Monday, June 1st. Oppenheimer restated an "outperform" rating on shares of Abeona Therapeutics in a research note on Monday, March 9th. Finally, HC Wainwright restated a "buy" rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a report on Thursday, May 28th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Abeona Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $19.00.
Check Out Our Latest Research Report on ABEO
Hedge Funds Weigh In On Abeona Therapeutics
Several institutional investors have recently bought and sold shares of ABEO. Legal & General Group Plc purchased a new stake in Abeona Therapeutics during the second quarter worth $27,000. Royal Bank of Canada boosted its position in Abeona Therapeutics by 49.6% during the 1st quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 2,155 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Abeona Therapeutics in the 3rd quarter valued at $37,000. Truvestments Capital LLC increased its holdings in shares of Abeona Therapeutics by 191.4% in the 4th quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company's stock valued at $54,000 after acquiring an additional 6,770 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Abeona Therapeutics in the 4th quarter worth $57,000. 80.56% of the stock is owned by hedge funds and other institutional investors.
About Abeona Therapeutics
(
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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