Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) SVP Sells $72,370.74 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) SVP Brendan O’malley sold 13,578 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $5.33, for a total value of $72,370.74. Following the completion of the transaction, the senior vice president directly owned 451,134 shares in the company, valued at approximately $2,404,544.22. This represents a 2.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Abeona Therapeutics Stock Performance

Shares of ABEO opened at $5.16 on Friday. The business has a 50-day simple moving average of $5.08 and a two-hundred day simple moving average of $5.63. The company has a quick ratio of 9.53, a current ratio of 9.74 and a debt-to-equity ratio of 0.06. Abeona Therapeutics Inc. has a 52 week low of $3.93 and a 52 week high of $7.54. The stock has a market cap of $279.62 million, a price-to-earnings ratio of 4.20 and a beta of 1.12.

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings data on Wednesday, November 12th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.17. On average, analysts expect that Abeona Therapeutics Inc. will post -1.16 EPS for the current year.

Hedge Funds Weigh In On Abeona Therapeutics

Institutional investors have recently bought and sold shares of the stock. Intech Investment Management LLC lifted its stake in Abeona Therapeutics by 19.6% in the 3rd quarter. Intech Investment Management LLC now owns 25,176 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 4,127 shares in the last quarter. Creative Planning grew its position in shares of Abeona Therapeutics by 43.0% during the second quarter. Creative Planning now owns 14,310 shares of the biopharmaceutical company’s stock valued at $81,000 after purchasing an additional 4,305 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Abeona Therapeutics in the second quarter worth about $25,000. Legal & General Group Plc purchased a new stake in shares of Abeona Therapeutics in the second quarter worth about $27,000. Finally, Riverwater Partners LLC lifted its position in shares of Abeona Therapeutics by 45.6% in the third quarter. Riverwater Partners LLC now owns 15,857 shares of the biopharmaceutical company’s stock worth $84,000 after buying an additional 4,963 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ABEO shares. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a research note on Monday, October 13th. Wall Street Zen lowered Abeona Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Abeona Therapeutics in a report on Wednesday. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently 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.