Abeona Therapeutics (NASDAQ:ABEO) Director Mark Alvino Sells 6,500 Shares

by · The Cerbat Gem

Abeona Therapeutics Inc. (NASDAQ:ABEO – Get Free Report) Director Mark Alvino sold 6,500 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $5.46, for a total transaction of $35,490.00. Following the completion of the transaction, the director owned 77,565 shares of the company’s stock, valued at approximately $423,504.90. This trade represents a 7.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Abeona Therapeutics Trading Down 1.4%

NASDAQ ABEO traded down $0.08 during trading hours on Friday, reaching $5.44. The company’s stock had a trading volume of 671,499 shares, compared to its average volume of 1,206,088. The firm has a fifty day simple moving average of $5.12 and a 200-day simple moving average of $5.05. The stock has a market cap of $310.03 million, a P/E ratio of 5.61 and a beta of 1.35. Abeona Therapeutics Inc. has a 52 week low of $4.00 and a 52 week high of $7.54. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.89 and a quick ratio of 5.70.

Abeona Therapeutics (NASDAQ:ABEO – Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. The business had revenue of $8.72 million during the quarter, compared to the consensus estimate of $4.57 million. Equities analysts forecast that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

ABEO has been the subject of several analyst reports. Oppenheimer reaffirmed an “outperform” rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. Stifel Nicolaus set a $17.00 target price on Abeona Therapeutics in a research report on Tuesday, March 17th. Wall Street Zen upgraded shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Abeona Therapeutics in a report on Thursday, March 19th. Two 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 stock currently has an average rating of “Hold” and a consensus target price of $19.00.

Read Our Latest Research Report on Abeona Therapeutics

Institutional Trading of Abeona Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in Abeona Therapeutics by 49.6% in the 1st quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 2,155 shares in the last quarter. Legato Capital Management LLC increased its stake in Abeona Therapeutics by 21.0% during the 4th quarter. Legato Capital Management LLC now owns 13,180 shares of the biopharmaceutical company’s stock valued at $69,000 after purchasing an additional 2,290 shares in the last quarter. Deutsche Bank AG increased its stake in Abeona Therapeutics by 6.2% during the 4th quarter. Deutsche Bank AG now owns 39,368 shares of the biopharmaceutical company’s stock valued at $207,000 after purchasing an additional 2,303 shares in the last quarter. Rangeley Capital LLC increased its stake in Abeona Therapeutics by 4.2% during the 1st quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company’s stock valued at $269,000 after purchasing an additional 2,400 shares in the last quarter. Finally, LPL Financial LLC increased its stake in Abeona Therapeutics by 5.3% during the 4th quarter. LPL Financial LLC now owns 62,873 shares of the biopharmaceutical company’s stock valued at $331,000 after purchasing an additional 3,165 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

About Abeona Therapeutics

(Get Free Report)

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.

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