Abeona Therapeutics' (ABEO) "Hold (C-)" Rating Reiterated at Weiss Ratings

Key Points

• Abeona Therapeutics (ABEO) has received a "hold (C-)" rating from Weiss Ratings, indicating a cautious outlook on its stock performance.
• The company reported a quarterly earnings per share (EPS) of $1.71, exceeding the consensus estimate of ($0.39), but its revenue fell short of expectations at $0.40 million compared to an anticipated $21.71 million.
• Insider trading activity includes CEO Vishwas Seshadri selling 25,000 shares for $131,000, which represents a 2.06% decrease in his position in the company.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report)'s stock had its "hold (c-)" rating reiterated by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other research analysts also recently issued reports about the stock. Oppenheimer lifted their price target on shares of Abeona Therapeutics from $19.00 to $20.00 and gave the stock an "outperform" rating in a research note on Friday, August 15th. HC Wainwright restated a "buy" rating and issued a $20.00 target price on shares of Abeona Therapeutics in a report on Monday, August 18th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $19.50.

Abeona Therapeutics Stock Performance

Shares of NASDAQ:ABEO traded up $0.38 during midday trading on Wednesday, reaching $5.63. The company had a trading volume of 709,116 shares, compared to its average volume of 999,763. The company's 50 day moving average price is $6.30 and its 200 day moving average price is $5.93. The company has a current ratio of 6.73, a quick ratio of 6.65 and a debt-to-equity ratio of 0.09. The stock has a market cap of $288.60 million, a P/E ratio of 8.06 and a beta of 1.42. Abeona Therapeutics has a 52-week low of $3.93 and a 52-week high of $7.54.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The biopharmaceutical company reported $1.71 EPS for the quarter, beating the consensus estimate of ($0.39) by $2.10. The business had revenue of $0.40 million for the quarter, compared to analysts' expectations of $21.71 million. As a group, sell-side analysts anticipate that Abeona Therapeutics will post -1.16 EPS for the current fiscal year.

Insider Activity

In other news, CEO Vishwas Seshadri sold 25,000 shares of the business's stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $5.24, for a total transaction of $131,000.00. Following the sale, the chief executive officer owned 1,190,067 shares in the company, valued at approximately $6,235,951.08. The trade was a 2.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Joseph Walter Vazzano sold 9,035 shares of the business's stock in a transaction on Monday, September 29th. The shares were sold at an average price of $5.39, for a total transaction of $48,698.65. Following the sale, the chief financial officer owned 453,631 shares in the company, valued at approximately $2,445,071.09. This trade represents a 1.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,865 shares of company stock worth $347,777. Corporate insiders own 5.40% of the company's stock.

Hedge Funds Weigh In On Abeona Therapeutics

Large investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. purchased a new position in shares of Abeona Therapeutics in the 2nd quarter worth about $25,000. Legal & General Group Plc purchased a new position in shares of Abeona Therapeutics in the 2nd quarter worth about $27,000. Riverwater Partners LLC purchased a new position in shares of Abeona Therapeutics in the 2nd quarter worth about $62,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Abeona Therapeutics in the 2nd quarter worth about $63,000. Finally, Man Group plc purchased a new position in shares of Abeona Therapeutics in the 2nd quarter worth about $67,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

About Abeona Therapeutics

Abeona Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and delivering gene therapy products for severe and life-threatening rare diseases. The company's lead programs are EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB); ABO-102, which are AAV based gene therapies for Sanfilippo syndrome type A; and ABO-101, an adeno-associated virus (AAV) based gene therapies for Sanfilippo syndrome type B.

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