Abeona Therapeutics (NASDAQ:ABEO) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Abeona Therapeutics (NASDAQ:ABEO) from a strong sell rating to a sell rating in a research report sent to investors on Saturday.

A number of other equities research analysts have also recently weighed in on ABEO. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Abeona Therapeutics in a report on Thursday, March 19th. Oppenheimer restated an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Stifel Nicolaus set a $17.00 price target on Abeona Therapeutics in a report on Tuesday, March 17th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Abeona Therapeutics in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Abeona Therapeutics currently has an average rating of “Hold” and an average target price of $19.00.

Abeona Therapeutics Stock Performance

NASDAQ ABEO opened at $5.49 on Friday. The company has a current ratio of 5.89, a quick ratio of 6.74 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $5.09 and its two-hundred day moving average is $5.05. Abeona Therapeutics has a 12-month low of $4.00 and a 12-month high of $7.54. The stock has a market capitalization of $312.88 million, a price-to-earnings ratio of 5.66 and a beta of 1.35.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. The firm had revenue of $8.72 million during the quarter, compared to analyst estimates of $4.57 million. Research analysts expect that Abeona Therapeutics will post -0.74 EPS for the current year.

Insider Buying and Selling

In related news, insider Madhav Vasanthavada sold 5,548 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $5.96, for a total value of $33,066.08. Following the sale, the insider owned 313,071 shares in the company, valued at $1,865,903.16. This represents a 1.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Eric Crombez sold 26,143 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 37,313 shares in the company, valued at approximately $206,340.89. The trade was a 41.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Abeona Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc purchased a new stake in Abeona Therapeutics in the 2nd quarter valued at approximately $27,000. Russell Investments Group Ltd. purchased a new stake in Abeona Therapeutics in the 3rd quarter valued at approximately $37,000. Truvestments Capital LLC lifted its stake in Abeona Therapeutics by 191.4% in the 4th quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 6,770 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Abeona Therapeutics in the 4th quarter valued at approximately $57,000. Finally, Legato Capital Management LLC purchased a new stake in Abeona Therapeutics in the 3rd quarter valued at approximately $57,000. 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.