Abeona Therapeutics Inc. (NASDAQ:ABEO) Stock Rated “Moderate Buy” by Sell-Side Analysts

Abeona Therapeutics Inc. (NASDAQ:ABEO) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $21.00.

ABEO has been the subject of several recent analyst reports. Weiss Ratings downgraded Abeona Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday. Roth Capital started coverage on shares of Abeona Therapeutics in a research note on Thursday, September 17th. They issued a “buy” rating and a $17.00 price target on the stock. Oppenheimer reiterated an “outperform” rating and issued a $21.00 target price (down from $22.00) on shares of Abeona Therapeutics in a research report on Friday, August 14th. HC Wainwright restated a “buy” rating on shares of Abeona Therapeutics in a report on Friday, September 25th. Finally, UBS Group reaffirmed a “buy” rating on shares of Abeona Therapeutics in a report on Friday, September 25th.

Abeona Therapeutics Stock Down 6.1%

ABEO stock opened at $2.30 on Friday. The business’s 50-day moving average price is $4.84 and its 200-day moving average price is $5.42. The stock has a market cap of $131.44 million, a P/E ratio of -2.15 and a beta of 1.50. Abeona Therapeutics has a twelve month low of $2.24 and a twelve month high of $7.65.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Monday, November 9th. The biopharmaceutical company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.09. The firm had revenue of $13.49 million for the quarter, compared to the consensus estimate of $14.82 million. Abeona Therapeutics had a negative net margin of 160.30% and a negative return on equity of 44.82%. On average, equities research analysts expect that Abeona Therapeutics will post -0.88 earnings per share for the current fiscal year.

Insider Transactions at Abeona Therapeutics

In other news, SVP Brendan O’Malley sold 6,727 shares of the company’s stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $5.16, for a total transaction of $34,711.32. Following the sale, the senior vice president directly owned 421,226 shares in the company, valued at approximately $2,173,526.16. This represents a 1.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Joseph Vazzano sold 9,191 shares of Abeona Therapeutics stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $5.16, for a total value of $47,425.56. Following the completion of the transaction, the chief financial officer owned 482,888 shares of the company’s stock, valued at approximately $2,491,702.08. This represents a 1.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 55,428 shares of company stock worth $296,508. 7.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ABEO. AIGH Capital Management LLC bought a new stake in Abeona Therapeutics in the third quarter worth about $15,225,000. AWM Investment Company Inc. bought a new stake in shares of Abeona Therapeutics during the second quarter worth $9,184,000. Nan Fung Trinity HK Ltd. boosted its stake in shares of Abeona Therapeutics by 336.6% during the third quarter. Nan Fung Trinity HK Ltd. now owns 552,270 shares of the biopharmaceutical company’s stock valued at $2,899,000 after purchasing an additional 425,770 shares during the period. Simplify Asset Management Inc. purchased a new position in Abeona Therapeutics in the 3rd quarter worth about $1,451,000. Finally, Bank of New York Mellon Corp purchased a new position in Abeona Therapeutics in the 2nd quarter worth about $1,262,000. Institutional investors own 80.56% of the company’s stock.

About Abeona Therapeutics

Abeona Therapeutics, Inc. is a biotechnology company focused on developing cell and gene therapies for serious and rare diseases. Its work includes treatments designed to address the underlying genetic causes of disease. The company’s lead product, ZEVASKYN (prademagene zamikeracel), is an autologous gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa, a rare inherited skin disorder. Made from a patient’s skin cells, the therapy uses genetic modification to help cells produce type VII collagen and is applied to wounds.