Abeona Therapeutics (NASDAQ:ABEO) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Abeona Therapeutics (NASDAQ:ABEO) posted its earnings results on Tuesday. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01), FiscalAI reports. The firm had revenue of $3.00 million for the quarter, compared to the consensus estimate of $5.65 million.

Abeona Therapeutics Trading Up 4.0%

ABEO stock opened at $4.95 on Tuesday. Abeona Therapeutics has a 52 week low of $3.93 and a 52 week high of $7.54. The company has a market capitalization of $268.24 million, a PE ratio of 4.02 and a beta of 1.13. The company’s 50-day simple moving average is $5.12 and its 200 day simple moving average is $5.25. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.53 and a current ratio of 9.74.

Insider Transactions at Abeona Therapeutics

In other news, Director Eric Crombez sold 16,284 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $5.09, for a total transaction of $82,885.56. Following the transaction, the director directly owned 63,456 shares of the company’s stock, valued at approximately $322,991.04. This trade represents a 20.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brendan M. O’malley sold 13,578 shares of Abeona Therapeutics stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $5.33, for a total transaction of $72,370.74. Following the completion of the sale, the senior vice president owned 451,134 shares of the company’s stock, valued at approximately $2,404,544.22. The trade was a 2.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 209,605 shares of company stock worth $1,101,300. Company insiders own 5.40% of the company’s stock.

Institutional Trading of Abeona Therapeutics

Several large investors have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. raised its stake in Abeona Therapeutics by 14.2% in the second quarter. Adage Capital Partners GP L.L.C. now owns 3,072,985 shares of the biopharmaceutical company’s stock valued at $17,455,000 after purchasing an additional 381,357 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Abeona Therapeutics by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,602,901 shares of the biopharmaceutical company’s stock worth $13,743,000 after acquiring an additional 95,878 shares during the period. Geode Capital Management LLC boosted its position in shares of Abeona Therapeutics by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,137,127 shares of the biopharmaceutical company’s stock worth $5,994,000 after acquiring an additional 9,996 shares in the last quarter. Kennedy Capital Management LLC increased its stake in Abeona Therapeutics by 56.4% in the third quarter. Kennedy Capital Management LLC now owns 1,050,863 shares of the biopharmaceutical company’s stock valued at $5,549,000 after acquiring an additional 378,860 shares during the last quarter. Finally, Tang Capital Management LLC acquired a new position in Abeona Therapeutics during the fourth quarter valued at approximately $5,270,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ABEO. Weiss Ratings reiterated a “sell (d+)” rating on shares of Abeona Therapeutics in a research note on Wednesday, January 21st. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Abeona Therapeutics in a report on Tuesday, March 10th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.00.

Abeona Therapeutics Company Profile

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.