Abeona Therapeutics (NASDAQ:ABEO) Director Eric Crombez Sells 26,143 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) Director Eric Crombez sold 26,143 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $5.53, for a total value of $144,570.79. Following the sale, the director owned 37,313 shares in the company, valued at approximately $206,340.89. The trade was a 41.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Abeona Therapeutics Stock Performance

NASDAQ:ABEO opened at $5.49 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.74 and a current ratio of 5.89. Abeona Therapeutics Inc. has a 52-week low of $4.00 and a 52-week high of $7.54. The firm has a market cap of $312.88 million, a price-to-earnings ratio of 5.66 and a beta of 1.35. The business’s fifty day moving average is $5.09 and its 200 day moving average is $5.05.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. The company had revenue of $8.72 million for the quarter, compared to the consensus estimate of $4.57 million. Research analysts predict that Abeona Therapeutics Inc. will post -0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

ABEO has been the subject of several analyst reports. Oppenheimer reissued an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Wall Street Zen upgraded Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Abeona Therapeutics in a research note on Thursday, March 19th. Stifel Nicolaus set a $17.00 target price on Abeona Therapeutics in a research note on Tuesday, March 17th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Abeona Therapeutics in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Abeona Therapeutics has a consensus rating of “Hold” and an average target price of $19.00.

Hedge Funds Weigh In On Abeona Therapeutics

A number of institutional investors have recently added to or reduced their stakes in ABEO. AIGH Capital Management LLC increased its position 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 valued at $13,888,000 after purchasing an additional 1,100,000 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Abeona Therapeutics by 14.2% during the 2nd 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 during the last quarter. Vanguard Group Inc. increased its position 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 valued at $13,743,000 after purchasing an additional 95,878 shares during the last quarter. Geode Capital Management LLC increased 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 valued at $5,994,000 after purchasing an additional 9,996 shares during the last quarter. Finally, Kennedy Capital Management LLC increased its position in shares of Abeona Therapeutics by 56.4% during the 3rd quarter. Kennedy Capital Management LLC now owns 1,050,863 shares of the biopharmaceutical company’s stock valued at $5,549,000 after purchasing an additional 378,860 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

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.