Abeona Therapeutics (NASDAQ:ABEO) Share Price Crosses Above 50 Day Moving Average - Here's What Happened

Key Points

• Abeona shares crossed above their 50‑day moving average on Monday — the 50‑day MA is $4.97 and the stock last traded at $5.34 (intraday high $5.48) on volume of ~597,637 shares.
• Analyst sentiment is cautiously positive: MarketBeat shows a consensus rating of "Moderate Buy" with a $19 consensus price target (four Buy ratings, one Sell; individual targets include $20 and $17).
• Mixed fundamentals and insider selling: market cap ~$303.7M and P/E 5.18; latest quarter EPS was -$0.34 (beat by $0.01) while revenue of $3.0M missed estimates, and insiders sold ~56,419 shares recently (insiders own ~5.4%).

Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $4.97 and traded as high as $5.48. Abeona Therapeutics shares last traded at $5.34, with a volume of 597,637 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ABEO. HC Wainwright reiterated a "buy" rating and set a $20.00 price objective on shares of Abeona Therapeutics in a report on Thursday, March 19th. Oppenheimer reiterated an "outperform" rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Abeona Therapeutics in a report on Wednesday, January 21st. Finally, Stifel Nicolaus set a $17.00 price objective on shares of Abeona Therapeutics in a report on Tuesday, March 17th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Abeona Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

Abeona Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.74 and a current ratio of 6.93. The firm has a market cap of $303.74 million, a P/E ratio of 5.18 and a beta of 1.22. The firm's fifty day moving average price is $4.97 and its 200 day moving average price is $5.02.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 17th. The biopharmaceutical company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.01. The business had revenue of $3.00 million during the quarter, compared to the consensus estimate of $5.65 million. Sell-side analysts expect that Abeona Therapeutics Inc. will post -0.6 EPS for the current fiscal year.

Insider Activity

In other news, Director Christine Berni Silverstein sold 20,070 shares of the business's stock in a transaction dated Monday, February 2nd. The shares were 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 in the company, valued at approximately $701,004.98. The trade was a 12.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eric Crombez sold 16,284 shares of the business'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 completion of the sale, the director owned 63,456 shares of the company's stock, valued at approximately $322,991.04. This represents a 20.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 56,419 shares of company stock worth $287,173. 5.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. raised its stake in shares of Abeona Therapeutics by 14.2% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,072,985 shares of the biopharmaceutical company's stock worth $17,455,000 after acquiring an additional 381,357 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Abeona Therapeutics by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,602,901 shares of the biopharmaceutical company's stock worth $13,743,000 after acquiring an additional 95,878 shares in the last quarter. AIGH Capital Management LLC bought a new position in shares of Abeona Therapeutics during the 4th quarter worth approximately $10,540,000. Geode Capital Management LLC raised its stake in shares of Abeona Therapeutics by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,137,127 shares of the biopharmaceutical company's stock worth $5,994,000 after acquiring an additional 9,996 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its stake in shares of Abeona Therapeutics by 56.4% during the 3rd quarter. Kennedy Capital Management LLC now owns 1,050,863 shares of the biopharmaceutical company's stock worth $5,549,000 after acquiring an additional 378,860 shares in the last quarter. Institutional investors own 80.56% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.