Abeona Therapeutics (NASDAQ:ABEO) Share Price Passes Above 50 Day Moving Average – Time to Sell?

Shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $5.19 and traded as high as $5.58. Abeona Therapeutics shares last traded at $5.30, with a volume of 1,095,007 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wall Street Zen lowered Abeona Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “sell (d+)” rating on shares of Abeona Therapeutics in a research report on Wednesday, January 21st. Four investment 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.com, Abeona Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Abeona Therapeutics Stock Performance

The stock has a market cap of $287.21 million, a price-to-earnings ratio of 4.31 and a beta of 1.18. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.74 and a quick ratio of 9.53. The stock’s 50-day moving average is $5.19 and its 200-day moving average is $5.43.

Insider Buying and Selling at Abeona Therapeutics

In other news, Director Christine Berni Silverstein sold 20,070 shares of Abeona Therapeutics stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $5.09, for a total value of $102,156.30. Following the completion of the sale, the director owned 137,722 shares of the company’s stock, valued at $701,004.98. The trade was a 12.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Madhav Vasanthavada sold 12,610 shares of the company’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $5.29, for a total value of $66,706.90. Following the completion of the transaction, the insider owned 318,619 shares of the company’s stock, valued at $1,685,494.51. The trade was a 3.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 209,605 shares of company stock valued at $1,101,300. 6.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Abeona Therapeutics

Hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. purchased a new stake in Abeona Therapeutics in the second quarter valued at approximately $25,000. Legal & General Group Plc acquired a new position in shares of Abeona Therapeutics in the 2nd quarter valued at $27,000. Russell Investments Group Ltd. purchased a new stake in shares of Abeona Therapeutics during the 3rd quarter valued at $37,000. Truvestments Capital LLC increased its holdings in shares of Abeona Therapeutics by 191.4% during the 4th quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 6,770 shares during the last quarter. Finally, Legato Capital Management LLC purchased a new position in shares of Abeona Therapeutics in the 3rd quarter worth $57,000. 80.56% of the stock is owned by institutional investors and hedge funds.

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.