Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) Insider Sells $66,706.90 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) insider Madhav Vasanthavada sold 12,610 shares of Abeona Therapeutics stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $5.29, for a total transaction of $66,706.90. Following the sale, the insider directly owned 318,619 shares of the company’s stock, valued at $1,685,494.51. The trade was a 3.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Abeona Therapeutics Stock Performance

ABEO opened at $4.83 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.74 and a quick ratio of 9.53. The company has a market capitalization of $261.74 million, a PE ratio of 3.93 and a beta of 1.12. The business has a fifty day simple moving average of $5.12 and a 200 day simple moving average of $5.62. Abeona Therapeutics Inc. has a 1 year low of $3.93 and a 1 year high of $7.54.

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

Wall Street Analyst Weigh In

ABEO has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Abeona Therapeutics in a research report on Wednesday, January 21st. Wall Street Zen downgraded shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Abeona Therapeutics in a research note on Monday, October 13th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.00.

Hedge Funds Weigh In On Abeona Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of ABEO. Aberdeen Group plc acquired a new stake in Abeona Therapeutics during the fourth quarter worth approximately $3,248,000. SG Americas Securities LLC acquired a new position in Abeona Therapeutics in the fourth quarter valued at approximately $57,000. Sherbrooke Park Advisers LLC bought a new position in shares of Abeona Therapeutics during the 3rd quarter worth approximately $64,000. Qube Research & Technologies Ltd grew its position in shares of Abeona Therapeutics by 568.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 225,868 shares of the biopharmaceutical company’s stock worth $1,193,000 after buying an additional 192,075 shares during the period. Finally, Millennium Management LLC grew its position in shares of Abeona Therapeutics by 176.0% during the 3rd quarter. Millennium Management LLC now owns 709,349 shares of the biopharmaceutical company’s stock worth $3,745,000 after buying an additional 452,334 shares during the period. 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.