Abeona Therapeutics (NASDAQ:ABEO) Stock Price Crosses Above Fifty Day Moving Average - Time to Sell?

Abeona Therapeutics Inc (NASDAQ:ABEO - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $5.04 and traded as high as $5.48. Abeona Therapeutics shares last traded at $5.33, with a volume of 1,045,154 shares traded.

Wall Street Analysts Forecast Growth

ABEO has been the subject of several recent research reports. Oppenheimer began coverage on Abeona Therapeutics in a research report on Wednesday, March 5th. They set an "outperform" rating and a $16.00 price objective for the company. HC Wainwright lifted their target price on Abeona Therapeutics from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, StockNews.com upgraded Abeona Therapeutics from a "sell" rating to a "hold" rating in a research note on Monday, March 24th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.75.

Abeona Therapeutics Stock Up 5.3 %

The company has a debt-to-equity ratio of 0.31, a current ratio of 6.12 and a quick ratio of 6.12. The company has a market capitalization of $337.01 million, a PE ratio of -2.54 and a beta of 1.71. The business's 50 day simple moving average is $5.04 and its 200 day simple moving average is $5.61.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last issued its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.43) by $0.19. As a group, analysts anticipate that Abeona Therapeutics Inc will post -1.16 earnings per share for the current fiscal year.

Insider Activity at Abeona Therapeutics

In other news, CEO Vishwas Seshadri sold 25,000 shares of the company's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $4.78, for a total transaction of $119,500.00. Following the completion of the transaction, the chief executive officer now owns 1,355,322 shares of the company's stock, valued at approximately $6,478,439.16. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Abeona Therapeutics

Several large investors have recently made changes to their positions in the stock. Twinbeech Capital LP bought a new position in shares of Abeona Therapeutics during the fourth quarter worth approximately $58,000. Squarepoint Ops LLC purchased a new stake in shares of Abeona Therapeutics during the 4th quarter worth approximately $67,000. Cannon Global Investment Management LLC bought a new stake in shares of Abeona Therapeutics during the 1st quarter valued at $67,000. Jane Street Group LLC purchased a new position in Abeona Therapeutics in the third quarter worth $84,000. Finally, Oxford Asset Management LLP purchased a new stake in shares of Abeona Therapeutics during the fourth quarter valued at approximately $118,000. 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.