Christine Berni Silverstein Sells 18,160 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) Director Christine Berni Silverstein sold 18,160 shares of Abeona Therapeutics stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $5.71, for a total value of $103,693.60. Following the completion of the sale, the director directly owned 119,562 shares of the company’s stock, valued at approximately $682,699.02. This trade represents a 13.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Abeona Therapeutics Trading Down 0.4%

Shares of ABEO opened at $5.65 on Wednesday. The business has a 50-day moving average of $5.47 and a 200 day moving average of $5.19. Abeona Therapeutics Inc. has a fifty-two week low of $4.00 and a fifty-two week high of $7.54. The firm has a market cap of $321.99 million, a P/E ratio of 5.82 and a beta of 1.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.70 and a current ratio of 5.89.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.03. The firm had revenue of $8.72 million during the quarter, compared to analysts’ expectations of $4.57 million. As a group, research analysts forecast that Abeona Therapeutics Inc. will post -0.79 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ABEO. Wall Street Zen raised Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Monday, June 1st. HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a report on Thursday, May 28th. Oppenheimer reaffirmed an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Finally, Stifel Nicolaus set a $17.00 target price 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, the company currently has a consensus rating of “Hold” and an average price target of $19.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. AIGH Capital Management LLC boosted its position in shares of Abeona Therapeutics by 55.0% during 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 during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Abeona Therapeutics by 14.2% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,072,985 shares of the biopharmaceutical company’s stock valued at $17,455,000 after acquiring an additional 381,357 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Abeona Therapeutics by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,602,901 shares of the biopharmaceutical company’s stock valued at $13,743,000 after acquiring an additional 95,878 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Abeona Therapeutics by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,137,127 shares of the biopharmaceutical company’s stock valued at $5,994,000 after acquiring an additional 9,996 shares during the last quarter. Finally, Kennedy Capital Management LLC boosted its position in shares of Abeona Therapeutics by 56.4% during the 3rd quarter. Kennedy Capital Management LLC now owns 1,050,863 shares of the biopharmaceutical company’s stock valued at $5,549,000 after acquiring an additional 378,860 shares during the last quarter. Hedge funds and other institutional investors 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.