Brendan O’malley Sells 6,305 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) SVP Brendan O’malley sold 6,305 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $5.30, for a total value of $33,416.50. Following the sale, the senior vice president directly owned 440,003 shares of the company’s stock, valued at $2,332,015.90. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Abeona Therapeutics Price Performance

Abeona Therapeutics stock traded up $0.07 on Tuesday, reaching $5.45. The company’s stock had a trading volume of 1,159,558 shares, compared to its average volume of 981,006. Abeona Therapeutics Inc. has a twelve month low of $4.00 and a twelve month high of $7.54. The company has a market cap of $310.60 million, a price-to-earnings ratio of 5.62 and a beta of 1.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.70 and a current ratio of 5.89. The business’s fifty day moving average price is $5.37 and its 200 day moving average price is $5.16.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.03. The company had revenue of $8.72 million for the quarter, compared to analyst estimates of $4.57 million. Equities analysts expect that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on ABEO shares. Oppenheimer reissued an “outperform” rating on shares of Abeona Therapeutics in a research note on Monday, March 9th. Stifel Nicolaus set a $17.00 price objective on Abeona Therapeutics in a report on Tuesday, March 17th. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Finally, Wall Street Zen upgraded Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Monday, June 1st. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Abeona Therapeutics currently has a consensus rating of “Hold” and an average target price of $19.00.

Institutional Investors Weigh In On Abeona Therapeutics

Several institutional investors have recently modified their holdings of ABEO. AIGH Capital Management LLC bought a new stake in shares of Abeona Therapeutics during the fourth quarter worth approximately $10,540,000. Tang Capital Management LLC bought a new position in Abeona Therapeutics in the fourth quarter valued at approximately $5,270,000. Geode Capital Management LLC boosted its stake in Abeona Therapeutics by 129.1% in the second quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock valued at $6,282,000 after acquiring an additional 623,243 shares during the last quarter. Aberdeen Group plc acquired a new stake in Abeona Therapeutics during the 4th quarter worth $3,248,000. Finally, Cable Car Capital LP acquired a new stake in Abeona Therapeutics during the 3rd quarter worth $3,168,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

About Abeona Therapeutics

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.