Abeona Therapeutics (NASDAQ:ABEO) Stock Price Crosses Above 50 Day Moving Average - Here's Why

Key Points

• Abeona Therapeutics shares briefly crossed above their 50‑day moving average of $4.90, trading as high as $4.98 and last at $4.87 on volume of 626,825 shares.
• Analysts have a "Moderate Buy" consensus (four Buys, one Sell) with a consensus price target of $19.00, implying significant upside from current levels.
• Insiders have sold 184,605 shares worth about $968,550 over the past 90 days (insiders own 6.9%), while institutional investors hold roughly 80.6% of the stock.

Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $4.90 and traded as high as $4.98. Abeona Therapeutics shares last traded at $4.87, with a volume of 626,825 shares traded.

Analysts Set New Price Targets

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

Abeona Therapeutics Stock Performance

The firm has a market cap of $277.83 million, a P/E ratio of 4.73 and a beta of 1.22. The stock's 50 day moving average is $4.90 and its two-hundred day moving average is $5.03. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.93 and a quick ratio of 6.74.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last posted its earnings results on Tuesday, March 17th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, beating analysts' consensus estimates 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. As a group, equities analysts predict that Abeona Therapeutics Inc. will post -1.16 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Brendan M. O'malley sold 13,578 shares of the company's stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $5.33, for a total value of $72,370.74. Following the sale, the senior vice president owned 451,134 shares of the company's stock, valued at $2,404,544.22. The trade was a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Madhav Vasanthavada sold 12,610 shares of the company's stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $5.29, for a total transaction of $66,706.90. Following the completion of the sale, the insider directly owned 318,619 shares in the company, valued at approximately $1,685,494.51. The trade was a 3.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 184,605 shares of company stock valued at $968,550 over the last 90 days. Company insiders own 6.90% of the company's stock.

Institutional Trading of Abeona Therapeutics

Several large investors have recently added to or reduced their stakes in ABEO. Legal & General Group Plc bought a new stake in Abeona Therapeutics during the second quarter worth about $27,000. Russell Investments Group Ltd. bought a new stake in Abeona Therapeutics during the third quarter worth about $37,000. Truvestments Capital LLC grew its stake in Abeona Therapeutics by 191.4% during the fourth quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company's stock worth $54,000 after buying an additional 6,770 shares during the last quarter. Legato Capital Management LLC bought a new stake in Abeona Therapeutics during the third quarter worth about $57,000. Finally, SG Americas Securities LLC bought a new stake in Abeona Therapeutics during the fourth quarter worth about $57,000. 80.56% of the stock is owned by institutional investors.

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.

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