Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) Director Sells $82,885.56 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) Director Eric Crombez sold 16,284 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $5.09, for a total transaction of $82,885.56. Following the sale, the director directly owned 63,456 shares of the company’s stock, valued at $322,991.04. The trade was a 20.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Abeona Therapeutics Stock Performance

Shares of NASDAQ ABEO opened at $5.08 on Thursday. Abeona Therapeutics Inc. has a 12-month low of $3.93 and a 12-month high of $7.54. The firm has a market capitalization of $275.29 million, a price-to-earnings ratio of 4.13 and a beta of 1.18. The company has a current ratio of 9.74, a quick ratio of 9.53 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average of $5.17 and a 200 day moving average of $5.58.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.17. On average, research analysts anticipate that Abeona Therapeutics Inc. will post -1.16 earnings per share for the current year.

Hedge Funds Weigh In On Abeona Therapeutics

A number of hedge funds have recently made changes to their positions in ABEO. Intech Investment Management LLC boosted its position in shares of Abeona Therapeutics by 19.6% during the third quarter. Intech Investment Management LLC now owns 25,176 shares of the biopharmaceutical company’s stock worth $133,000 after acquiring an additional 4,127 shares during the last quarter. Creative Planning lifted its stake in Abeona Therapeutics by 43.0% in the 2nd quarter. Creative Planning now owns 14,310 shares of the biopharmaceutical company’s stock worth $81,000 after purchasing an additional 4,305 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Abeona Therapeutics during the 2nd quarter valued at about $25,000. Legal & General Group Plc purchased a new position in shares of Abeona Therapeutics during the second quarter valued at about $27,000. Finally, Riverwater Partners LLC grew its position in shares of Abeona Therapeutics by 45.6% during the third quarter. Riverwater Partners LLC now owns 15,857 shares of the biopharmaceutical company’s stock valued at $84,000 after purchasing an additional 4,963 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

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

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.