Abeona Therapeutics (NASDAQ:ABEO) Shares Cross Below 50-Day Moving Average - What's Next?

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) shares crossed 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 changing hands.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ABEO shares. HC Wainwright reissued a "buy" rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a report on Monday, August 18th. Oppenheimer upped their price objective on shares of Abeona Therapeutics from $19.00 to $20.00 and gave the company an "outperform" rating in a report on Friday, August 15th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Abeona Therapeutics currently has an average rating of "Buy" and an average price target of $19.50.

Abeona Therapeutics Trading Down 0.7%

The company's 50 day moving average price is $6.58 and its 200 day moving average price is $5.91. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.73 and a quick ratio of 6.65. The firm has a market cap of $291.27 million, a PE ratio of 8.11 and a beta of 1.67.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations of $21.71 million. As a group, analysts forecast that Abeona Therapeutics Inc. will post -1.16 EPS for the current fiscal year.

Insider Transactions at Abeona Therapeutics

In related news, CFO Joseph Walter Vazzano sold 25,411 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $5.86, for a total value of $148,908.46. Following the sale, the chief financial officer owned 479,168 shares of the company's stock, valued at $2,807,924.48. This trade represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Faith L. Charles sold 10,738 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $5.86, for a total transaction of $62,924.68. Following the completion of the sale, the director directly owned 139,094 shares in the company, valued at approximately $815,090.84. This trade represents a 7.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 150,685 shares of company stock valued at $884,186 over the last quarter. Insiders own 5.40% of the company's stock.

Institutional Trading of Abeona Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. acquired a new stake in Abeona Therapeutics during the second quarter worth approximately $25,000. Legal & General Group Plc acquired a new stake in Abeona Therapeutics during the second quarter worth approximately $27,000. Twinbeech Capital LP acquired a new stake in Abeona Therapeutics during the fourth quarter worth approximately $58,000. Riverwater Partners LLC acquired a new stake in Abeona Therapeutics during the second quarter worth approximately $62,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in Abeona Therapeutics during the second quarter worth approximately $63,000. Institutional investors and hedge funds 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.

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