Key Points
- Brendan O’Malley, Abeona Therapeutics’ SVP, sold 12,050 shares on July 9 at an average price of $6.96, a transaction worth about $83,868. The filing says the sale was to cover tax withholding tied to vested equity awards.
- Despite the insider sale, ABEO stock rose 4.7% and opened at $7.12 on Friday, near its 52-week high of $7.54. The company also has a strong balance sheet, with a current ratio of 5.89 and very low debt-to-equity.
- Abeona recently beat quarterly expectations, reporting a smaller-than-expected loss and revenue of $8.72 million versus estimates of $4.57 million. Wall Street currently rates the stock a Moderate Buy with an average target price of $19.00.
Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) SVP Brendan O'malley sold 12,050 shares of Abeona Therapeutics stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $6.96, for a total value of $83,868.00. Following the transaction, the senior vice president owned 427,953 shares of the company's stock, valued at $2,978,552.88. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Abeona Therapeutics Stock Up 4.7%
ABEO stock opened at $7.12 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 business's 50 day simple moving average is $5.75 and its 200 day simple moving average is $5.31. Abeona Therapeutics Inc. has a 1-year low of $4.00 and a 1-year high of $7.54. The firm has a market capitalization of $405.77 million, a PE ratio of 7.34 and a beta of 1.34.
Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last released 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 analyst estimates of $4.57 million. As a group, research analysts anticipate that Abeona Therapeutics Inc. will post -0.79 EPS for the current year.
Wall Street Analysts Forecast Growth
ABEO has been the topic of several research analyst reports. Wall Street Zen raised shares of Abeona Therapeutics from a "strong sell" rating to a "sell" rating in a report on Monday, June 1st. Stifel Nicolaus set a $17.00 price objective on Abeona Therapeutics in a report on Tuesday, March 17th. Weiss Ratings raised Abeona Therapeutics from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, June 29th. Finally, HC Wainwright reiterated a "buy" rating and set a $20.00 target price on shares of Abeona Therapeutics in a research note 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $19.00.
Read Our Latest Research Report on Abeona Therapeutics
Institutional Trading of Abeona Therapeutics
Institutional investors have recently bought and sold shares of the business. AIGH Capital Management LLC grew its position in shares of Abeona Therapeutics by 55.0% during the 1st quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company's stock worth $13,888,000 after purchasing an additional 1,100,000 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of Abeona Therapeutics by 14.2% in the second 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. boosted its stake in shares of Abeona Therapeutics by 3.8% in the third 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 during the period. Geode Capital Management LLC boosted its stake in shares of Abeona Therapeutics by 0.9% in the fourth 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 during the period. Finally, Kennedy Capital Management LLC grew its position in Abeona Therapeutics by 56.4% during the third quarter. Kennedy Capital Management LLC now owns 1,050,863 shares of the biopharmaceutical company's stock worth $5,549,000 after buying an additional 378,860 shares in the last quarter. Institutional investors own 80.56% of the company's stock.
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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