Abeona Therapeutics (NASDAQ:ABEO) Stock Passes Below 50 Day Moving Average - Here's Why

Key Points

• Abeona Therapeutics shares have dropped below their 50-day moving average of $6.58, trading at $5.68 with significant trading volume of 1,507,698 shares.
• Despite recent stock performance, analysts maintain a generally positive outlook, with an average rating of "Buy" and a price target of $19.50.
• The company reported a profit of $1.71 EPS in their latest earnings, substantially exceeding the consensus estimate of ($0.39) EPS, although revenues fell short of expectations.

Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $6.58 and traded as low as $5.57. Abeona Therapeutics shares last traded at $5.68, with a volume of 1,507,698 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ABEO shares. Oppenheimer lifted their price objective on Abeona Therapeutics from $19.00 to $20.00 and gave the company an "outperform" rating in a research note on Friday, August 15th. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a research note on Monday, August 18th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $19.50.

Abeona Therapeutics Stock Down 4.6%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.65 and a current ratio of 6.73. The firm has a market capitalization of $275.89 million, a P/E ratio of 7.69 and a beta of 1.67. The stock has a fifty day moving average price of $6.57 and a two-hundred day moving average price of $5.92.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The biopharmaceutical company reported $1.71 earnings per share for the quarter, beating analysts' consensus estimates of ($0.39) by $2.10. The firm had revenue of $0.40 million during the quarter, compared to the consensus estimate of $21.71 million. Research analysts forecast that Abeona Therapeutics Inc. will post -1.16 EPS for the current year.

Insider Activity

In related news, Director Christine Berni Silverstein sold 13,093 shares of the company's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total transaction of $76,724.98. Following the completion of the transaction, the director directly owned 120,479 shares in the company, valued at $706,006.94. This represents a 9.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brendan M. O'malley sold 17,428 shares of the company's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total value of $102,128.08. Following the transaction, the senior vice president owned 360,817 shares of the company's stock, valued at approximately $2,114,387.62. The trade was a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 150,685 shares of company stock worth $884,186 over the last 90 days. Insiders own 6.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Trexquant Investment LP grew its stake in shares of Abeona Therapeutics by 74.1% in the first quarter. Trexquant Investment LP now owns 119,274 shares of the biopharmaceutical company's stock worth $568,000 after purchasing an additional 50,758 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Abeona Therapeutics by 894.8% in the fourth quarter. Jane Street Group LLC now owns 131,478 shares of the biopharmaceutical company's stock worth $732,000 after purchasing an additional 118,262 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Abeona Therapeutics in the fourth quarter worth $520,000. Squarepoint Ops LLC bought a new position in shares of Abeona Therapeutics in the fourth quarter worth $67,000. Finally, Northern Trust Corp grew its stake in shares of Abeona Therapeutics by 6.6% in the fourth quarter. Northern Trust Corp now owns 184,929 shares of the biopharmaceutical company's stock worth $1,030,000 after purchasing an additional 11,478 shares in the last quarter. Institutional investors own 80.56% of the company's stock.

Abeona Therapeutics Company Profile

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.