Key Points
- Insider sale: Madhav Vasanthavada sold 4,902 Abeona Therapeutics shares at $5.16 each, totaling $25,294.32. The sale covered tax withholding tied to vested equity awards and reduced his holdings by 1.69%.
- Recent performance and results: ABEO opened at $5.16, within its one-year range of $4.00 to $7.65. The company reported a quarterly loss of $0.35 per share and revenue of $11.38 million, missing analyst estimates on both measures.
- Analyst outlook: Abeona has a “Moderate Buy” consensus rating from analysts, with an average price target of $21.00 versus the reported share price. Institutional investors and hedge funds own approximately 80.56% of the company.
Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) insider Madhav Vasanthavada sold 4,902 shares of the business's stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $5.16, for a total transaction of $25,294.32. Following the completion of the sale, the insider directly owned 285,721 shares of the company's stock, valued at approximately $1,474,320.36. This trade represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Madhav Vasanthavada also recently made the following trade(s):
- On Thursday, July 9th, Madhav Vasanthavada sold 12,606 shares of Abeona Therapeutics stock. The shares were sold at an average price of $6.96, for a total transaction of $87,737.76.
Abeona Therapeutics Stock Performance
Shares of ABEO stock opened at $5.16 on Wednesday. The stock's 50-day moving average is $6.07 and its two-hundred day moving average is $5.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.40 and a current ratio of 6.63. Abeona Therapeutics Inc. has a 1 year low of $4.00 and a 1 year high of $7.65. The firm has a market cap of $295.07 million, a price-to-earnings ratio of -4.73 and a beta of 1.33.
Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last posted its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The firm had revenue of $11.38 million during the quarter, compared to analyst estimates of $12.24 million. Analysts predict that Abeona Therapeutics Inc. will post -0.88 earnings per share for the current year.
Institutional Trading of Abeona Therapeutics
Hedge funds have recently made changes to their positions in the company. AIGH Capital Management LLC boosted its holdings in shares of Abeona Therapeutics by 55.0% in the first quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company's stock valued at $13,888,000 after acquiring an additional 1,100,000 shares in the last quarter. AWM Investment Company Inc. purchased a new position in Abeona Therapeutics during the second quarter worth about $9,184,000. Simplify Asset Management Inc. lifted its position in Abeona Therapeutics by 1.5% in the first quarter. Simplify Asset Management Inc. now owns 507,988 shares of the biopharmaceutical company's stock valued at $2,276,000 after purchasing an additional 7,646 shares during the period. Bank of New York Mellon Corp acquired a new stake in Abeona Therapeutics in the second quarter valued at about $1,262,000. Finally, Sei Investments Co. boosted its holdings in Abeona Therapeutics by 142.4% in the 1st quarter. Sei Investments Co. now owns 172,460 shares of the biopharmaceutical company's stock valued at $773,000 after purchasing an additional 101,307 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald increased their price objective on Abeona Therapeutics from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, September 18th. Wall Street Zen upgraded shares of Abeona Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 1st. HC Wainwright restated a "buy" rating on shares of Abeona Therapeutics in a research note on Friday. UBS Group reaffirmed a "buy" rating on shares of Abeona Therapeutics in a report on Friday. Finally, Weiss Ratings downgraded shares of Abeona Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, August 17th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Abeona Therapeutics has an average rating of "Moderate Buy" and an average price target of $21.00.
Read Our Latest Stock Analysis on ABEO
About Abeona Therapeutics
(
Get Free Report)
Abeona Therapeutics Inc is a biopharmaceutical company focused on developing and commercializing cell and gene therapies for patients with serious and life-threatening genetic diseases. The company's programs are designed to address conditions for which existing treatment options are limited or inadequate.
Abeona's lead product, ZEVASKYN (prademagene zamikeracel, formerly EB-101), is an autologous gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa, a rare inherited disorder that causes fragile skin and chronic wounds.
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