Key Points
- Director Mark Alvino sold 15,000 Abeona Therapeutics shares at an average price of $5.86, totaling $87,900. His remaining stake fell 19.46% to 62,065 shares.
- Abeona’s latest quarterly results missed expectations, with an adjusted loss of $0.35 per share versus the expected $0.23 loss and revenue of $11.38 million versus $12.24 million expected.
- Analyst sentiment is mixed: the stock carries a consensus “Hold” rating and a $19.33 price target, while institutional investors own approximately 80.56% of outstanding shares.
Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) Director Mark Alvino sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $5.86, for a total value of $87,900.00. Following the transaction, the director owned 62,065 shares in the company, valued at approximately $363,700.90. This represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Abeona Therapeutics Price Performance
NASDAQ:ABEO opened at $5.98 on Wednesday. Abeona Therapeutics Inc. has a one year low of $4.00 and a one year high of $7.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.40 and a current ratio of 6.63. The stock has a market cap of $341.96 million, a PE ratio of -5.49 and a beta of 1.35. The stock has a 50 day moving average price of $6.42 and a 200 day moving average price of $5.65.
Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.12). The company had revenue of $11.38 million during the quarter, compared to analysts' expectations of $12.24 million. Equities research analysts expect that Abeona Therapeutics Inc. will post -0.93 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on ABEO shares. Oppenheimer reissued an "outperform" rating and set a $21.00 price target (down from $22.00) on shares of Abeona Therapeutics in a research report on Friday, August 14th. Wall Street Zen raised shares of Abeona Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 1st. Weiss Ratings lowered shares of Abeona Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, August 17th. Finally, HC Wainwright reissued a "buy" rating and issued a $20.00 price target on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $19.33.
Get Our Latest Research Report on ABEO
Hedge Funds Weigh In On Abeona Therapeutics
A number of hedge funds and other institutional investors have recently bought and sold shares of ABEO. Legal & General Group Plc acquired a new position in shares of Abeona Therapeutics in the second quarter valued at approximately $27,000. Royal Bank of Canada boosted its position in shares of Abeona Therapeutics by 49.6% during the 1st quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 2,155 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Abeona Therapeutics in the third quarter valued at approximately $37,000. Truvestments Capital LLC raised its holdings 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 purchasing an additional 6,770 shares in the last quarter. Finally, Man Group plc acquired a new stake in Abeona Therapeutics during the second quarter worth approximately $67,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.
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.
Further Reading
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