Abeona Therapeutics (NASDAQ:ABEO) Director Mark Alvino Sells 15,000 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) Director Mark Alvino sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $5.86, for a total value of $87,900.00. Following the transaction, the director owned 62,065 shares of the company’s stock, valued at approximately $363,700.90. The trade was a 19.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Abeona Therapeutics Stock Up 2.2%

Shares of ABEO opened at $5.98 on Wednesday. The firm has a market capitalization of $341.96 million, a P/E ratio of -5.49 and a beta of 1.35. Abeona Therapeutics Inc. has a 12-month low of $4.00 and a 12-month high of $7.65. The firm has a fifty day moving average price of $6.42 and a 200-day moving average price of $5.65. The company has a current ratio of 6.63, a quick ratio of 6.40 and a debt-to-equity ratio of 0.01.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The business had revenue of $11.38 million for the quarter, compared to the consensus estimate of $12.24 million. Equities research analysts expect that Abeona Therapeutics Inc. will post -0.93 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Oppenheimer reissued an “outperform” rating and issued a $21.00 price target (down from $22.00) on shares of Abeona Therapeutics in a research report on Friday, August 14th. Wall Street Zen raised shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. 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. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Abeona Therapeutics in a report on Thursday, May 28th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.33.

Institutional Trading of Abeona Therapeutics

Hedge funds have recently modified their holdings of the stock. AIGH Capital Management LLC grew its stake in shares of Abeona Therapeutics by 55.0% during the 1st quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company’s stock worth $13,888,000 after purchasing an additional 1,100,000 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in shares of Abeona Therapeutics by 14.2% during the second quarter. Adage Capital Partners GP L.L.C. now owns 3,072,985 shares of the biopharmaceutical company’s stock worth $17,455,000 after purchasing an additional 381,357 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Abeona Therapeutics by 3.8% during the third quarter. Vanguard Group Inc. now owns 2,602,901 shares of the biopharmaceutical company’s stock valued at $13,743,000 after acquiring an additional 95,878 shares during the last quarter. AWM Investment Company Inc. acquired a new position in Abeona Therapeutics in the 2nd quarter valued at $9,184,000. Finally, Geode Capital Management LLC lifted its stake in shares of Abeona Therapeutics by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,137,127 shares of the biopharmaceutical company’s stock worth $5,994,000 after buying an additional 9,996 shares in the last quarter. Hedge funds and other institutional investors 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.