Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) SVP Sells 6,305 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) SVP Brendan O’malley sold 6,305 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $5.30, for a total transaction of $33,416.50. Following the transaction, the senior vice president owned 440,003 shares in the company, valued at approximately $2,332,015.90. The trade was a 1.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Abeona Therapeutics Stock Performance

Shares of NASDAQ ABEO traded up $0.07 during mid-day trading on Tuesday, hitting $5.45. The company had a trading volume of 1,159,558 shares, compared to its average volume of 981,006. Abeona Therapeutics Inc. has a 12 month low of $4.00 and a 12 month high of $7.54. The firm has a market cap of $310.60 million, a P/E ratio of 5.62 and a beta of 1.35. The business’s 50-day simple moving average is $5.37 and its 200-day simple moving average is $5.16. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.89 and a quick ratio of 5.70.

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, beating the consensus estimate of ($0.33) by $0.03. The firm had revenue of $8.72 million for the quarter, compared to the consensus estimate of $4.57 million. As a group, analysts predict that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of Abeona Therapeutics

Several institutional investors have recently bought and sold shares of ABEO. Aberdeen Group plc acquired a new position in Abeona Therapeutics during the fourth quarter worth $3,248,000. AIGH Capital Management LLC acquired a new stake in shares of Abeona Therapeutics in the 4th quarter valued at $10,540,000. Nan Fung Trinity HK Ltd. grew its holdings in shares of Abeona Therapeutics by 70.6% in the 4th quarter. Nan Fung Trinity HK Ltd. now owns 956,770 shares of the biopharmaceutical company’s stock worth $5,042,000 after purchasing an additional 396,000 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Abeona Therapeutics by 38.6% during the 1st quarter. Renaissance Technologies LLC now owns 161,082 shares of the biopharmaceutical company’s stock worth $722,000 after purchasing an additional 44,882 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in Abeona Therapeutics by 142.4% during the 1st quarter. Sei Investments Co. now owns 172,460 shares of the biopharmaceutical company’s stock valued at $773,000 after purchasing an additional 101,307 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

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.