Abeona Therapeutics (NASDAQ:ABEO) SVP Brendan O’malley Sells 12,050 Shares

Abeona Therapeutics Inc. (NASDAQ:ABEO) SVP Brendan O’malley sold 12,050 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $6.96, for a total value of $83,868.00. Following the completion of the sale, the senior vice president owned 427,953 shares in the company, valued at approximately $2,978,552.88. This trade represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Abeona Therapeutics Stock Up 4.7%

ABEO stock opened at $7.12 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.89 and a quick ratio of 5.70. The stock has a market capitalization of $405.77 million, a P/E ratio of 7.34 and a beta of 1.34. The business has a 50-day moving average of $5.75 and a 200-day moving average of $5.31. Abeona Therapeutics Inc. has a fifty-two week low of $4.00 and a fifty-two week high of $7.54.

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings data 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 firm had revenue of $8.72 million for the quarter, compared to the consensus estimate of $4.57 million. On average, sell-side analysts anticipate that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current fiscal year.

Institutional Trading of Abeona Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABEO. AIGH Capital Management LLC acquired a new stake in Abeona Therapeutics in the fourth quarter valued at $10,540,000. Tang Capital Management LLC acquired a new position in shares of Abeona Therapeutics during the 4th quarter worth about $5,270,000. Geode Capital Management LLC raised its holdings in shares of Abeona Therapeutics by 129.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock valued at $6,282,000 after purchasing an additional 623,243 shares during the period. Aberdeen Group plc acquired a new stake in Abeona Therapeutics in the 4th quarter valued at about $3,248,000. Finally, Cable Car Capital LP acquired a new stake in Abeona Therapeutics in the 3rd quarter valued at about $3,168,000. 80.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on ABEO. Wall Street Zen upgraded shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Monday, June 1st. Stifel Nicolaus set a $17.00 target price on shares of Abeona Therapeutics in a report on Tuesday, March 17th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Abeona Therapeutics in a research report on Thursday, May 28th. Finally, Weiss Ratings upgraded shares of Abeona Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Abeona Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

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.