Eric Crombez Sells 26,143 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) Director Eric Crombez sold 26,143 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was 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 of the company’s stock, valued at $206,340.89. This trade represents a 41.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Abeona Therapeutics Stock Down 2.0%

Shares of ABEO opened at $5.49 on Friday. Abeona Therapeutics Inc. has a 52-week low of $4.00 and a 52-week high of $7.54. The company has a market capitalization of $312.88 million, a PE ratio of 5.66 and a beta of 1.35. The stock has a fifty day simple moving average of $5.09 and a two-hundred day simple moving average of $5.05. The company has a quick ratio of 6.74, a current ratio of 5.89 and a debt-to-equity ratio of 0.03.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ABEO shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Abeona Therapeutics in a research note on Wednesday, January 21st. Oppenheimer reaffirmed an “outperform” rating on shares of Abeona Therapeutics in a research note on Monday, March 9th. Wall Street Zen upgraded Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday. HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Abeona Therapeutics in a report on Thursday, March 19th. Finally, Stifel Nicolaus set a $17.00 price target on Abeona Therapeutics in a report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Abeona Therapeutics currently has an average rating of “Hold” and a consensus target price of $19.00.

Hedge Funds Weigh In On Abeona Therapeutics

A number of hedge funds have recently modified their holdings of the business. Rangeley Capital LLC grew its holdings in shares of Abeona Therapeutics by 4.2% during the 1st quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company’s stock worth $269,000 after purchasing an additional 2,400 shares during the period. Renaissance Technologies LLC grew its holdings 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 during the period. Sei Investments Co. grew its holdings in shares of Abeona Therapeutics by 142.4% during the 1st quarter. Sei Investments Co. now owns 172,460 shares of the biopharmaceutical company’s stock worth $773,000 after purchasing an additional 101,307 shares during the period. Dimensional Fund Advisors LP purchased a new position in Abeona Therapeutics during the 1st quarter valued at about $154,000. Finally, AIGH Capital Management LLC grew its position in Abeona Therapeutics by 55.0% in the 1st quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company’s stock valued at $13,888,000 after acquiring an additional 1,100,000 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

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.