Abeona Therapeutics Inc. (ABEO) Trading Up 4.5% Following Insider Buying Activity
Abeona Therapeutics Inc. (NASDAQ:ABEO) was up 4.5% during mid-day trading on Thursday following insider buying activity. The company traded as high as $6.15 and last traded at $6.00, with a volume of 222,575 shares traded. The stock had previously closed at $5.74.
Specifically, Director Todd Wider bought 5,000 shares of the stock in a transaction on Tuesday, September 20th. The stock was purchased at an average price of $5.48 per share, with a total value of $27,400.00. Following the completion of the purchase, the director now owns 75,000 shares in the company, valued at $411,000. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 13.00% of the company’s stock.
Several research analysts have commented on ABEO shares. FBR & Co reissued a “buy” rating on shares of Abeona Therapeutics in a research note on Wednesday, June 22nd. Rodman & Renshaw reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Abeona Therapeutics in a research note on Sunday, August 21st. Maxim Group set a $6.00 price objective on Abeona Therapeutics and gave the company a “buy” rating in a research note on Thursday, August 18th. Finally, Cantor Fitzgerald initiated coverage on Abeona Therapeutics in a research note on Wednesday, September 7th. They issued a “buy” rating and a $21.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Abeona Therapeutics presently has a consensus rating of “Buy” and an average target price of $14.00.
The stock’s market capitalization is $198.25 million. The firm’s 50 day moving average price is $4.80 and its 200-day moving average price is $3.25.
Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Tuesday, August 16th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by $0.06. Abeona Therapeutics had a negative return on equity of 30.84% and a negative net margin of 2,177.03%. On average, analysts forecast that Abeona Therapeutics Inc. will post ($0.73) earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in Abeona Therapeutics by 16.7% in the first quarter. Geode Capital Management LLC now owns 70,496 shares of the biopharmaceutical company’s stock valued at $180,000 after buying an additional 10,082 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Abeona Therapeutics by 8.5% in the first quarter. BlackRock Fund Advisors now owns 302,262 shares of the biopharmaceutical company’s stock worth $774,000 after buying an additional 23,734 shares during the last quarter. Sabby Management LLC raised its position in shares of Abeona Therapeutics by 11.4% in the first quarter. Sabby Management LLC now owns 334,108 shares of the biopharmaceutical company’s stock worth $855,000 after buying an additional 34,108 shares during the last quarter. Finally, Royce & Associates LP raised its position in shares of Abeona Therapeutics by 25.6% in the first quarter. Royce & Associates LP now owns 376,321 shares of the biopharmaceutical company’s stock worth $963,000 after buying an additional 76,678 shares during the last quarter. Hedge funds and other institutional investors own 19.95% of the company’s stock.
Abeona Therapeutics Company Profile
Abeona Therapeutics, Inc (Abeona), formerly PlasmaTech Biopharmaceuticals, Inc, is focused on developing and delivering gene therapy and plasma-based products for rare diseases. The Company’s lead programs are ABO-101 (AA9 NAGLU) and ABO-102 (scAAV9 SGHG), adeno-associated virus (AAV)-based gene therapies for Sanfilippo syndrome (Mucopolysaccharidosis (MPS) IIIA and IIIB) in collaboration with patient advocate groups, researchers and clinicians.
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