Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) Director Sells 15,000 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) Director Mark Alvino sold 15,000 shares of Abeona Therapeutics stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $4.74, for a total transaction of $71,100.00. Following the completion of the sale, the director directly owned 62,252 shares in the company, valued at $295,074.48. This represents a 19.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Abeona Therapeutics Price Performance

NASDAQ ABEO traded down $0.08 on Friday, hitting $4.45. The company had a trading volume of 2,636,102 shares, compared to its average volume of 1,155,498. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.73 and a quick ratio of 6.65. The company’s fifty day moving average price is $5.39 and its 200-day moving average price is $5.98. The company has a market capitalization of $228.19 million, a PE ratio of 6.36 and a beta of 1.45. Abeona Therapeutics Inc. has a 12-month low of $3.93 and a 12-month high of $7.54.

Abeona Therapeutics (NASDAQ:ABEO) last announced its earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.17. As a group, analysts predict that Abeona Therapeutics Inc. will post -1.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ABEO. Intech Investment Management LLC raised its position in Abeona Therapeutics by 19.6% in the third quarter. Intech Investment Management LLC now owns 25,176 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 4,127 shares during the period. Creative Planning raised its holdings in Abeona Therapeutics by 43.0% in the 2nd quarter. Creative Planning now owns 14,310 shares of the biopharmaceutical company’s stock valued at $81,000 after buying an additional 4,305 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Abeona Therapeutics during the second quarter worth about $25,000. Legal & General Group Plc purchased a new position in Abeona Therapeutics during the second quarter worth about $27,000. Finally, Riverwater Partners LLC raised its stake in shares of Abeona Therapeutics by 45.6% in the 3rd quarter. Riverwater Partners LLC now owns 15,857 shares of the biopharmaceutical company’s stock valued at $84,000 after acquiring an additional 4,963 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABEO has been the subject of a number of research analyst reports. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a report on Monday, October 13th. Oppenheimer increased their price objective on Abeona Therapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, August 15th. Finally, Weiss Ratings cut shares of Abeona Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 24th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Abeona Therapeutics Company Profile

Abeona Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and delivering gene therapy products for severe and life-threatening rare diseases. The company's lead programs are EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB); ABO-102, which are AAV based gene therapies for Sanfilippo syndrome type A; and ABO-101, an adeno-associated virus (AAV) based gene therapies for Sanfilippo syndrome type B.