Leila Alland Sells 11,000 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) Director Leila Alland sold 11,000 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $5.92, for a total transaction of $65,120.00. Following the completion of the sale, the director owned 162,614 shares in the company, valued at $962,674.88. This represents a 6.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Abeona Therapeutics Price Performance

NASDAQ ABEO traded up $0.35 during trading hours on Thursday, reaching $6.40. The company’s stock had a trading volume of 1,395,852 shares, compared to its average volume of 1,202,640. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.70 and a current ratio of 5.89. The company’s 50-day moving average is $5.61 and its two-hundred day moving average is $5.25. Abeona Therapeutics Inc. has a fifty-two week low of $4.00 and a fifty-two week high of $7.54. The stock has a market cap of $364.77 million, a PE ratio of 6.60 and a beta of 1.33.

Abeona Therapeutics (NASDAQ:ABEO) last announced 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 business had revenue of $8.72 million during the quarter, compared to analysts’ expectations of $4.57 million. Analysts forecast that Abeona Therapeutics Inc. will post -0.79 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on ABEO shares. Wall Street Zen raised Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Monday, June 1st. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Weiss Ratings raised shares of Abeona Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Oppenheimer restated an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Finally, Stifel Nicolaus set a $17.00 price target on shares of Abeona Therapeutics in a research note on Tuesday, March 17th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Abeona Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Institutional Investors Weigh In On Abeona Therapeutics

Hedge funds have recently made changes to their positions in the business. Legal & General Group Plc purchased a new position in shares of Abeona Therapeutics during the 2nd quarter worth about $27,000. Royal Bank of Canada increased its position in Abeona Therapeutics by 49.6% during the first quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 2,155 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Abeona Therapeutics during the third quarter worth approximately $37,000. Truvestments Capital LLC raised its stake in Abeona Therapeutics by 191.4% during the fourth quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 6,770 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Abeona Therapeutics in the 4th quarter valued at $57,000. Institutional investors and hedge funds 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.