Abeona Therapeutics (NASDAQ:ABEO) Stock Price Passes Below 200-Day Moving Average - Time to Sell?

Key Points

• Abeona Therapeutics' stock price has fallen below its 200-day moving average of $5.93, trading at $5.54 with a volume of over 1 million shares.
• Analyst ratings reflect a cautious outlook, with five "buy" ratings and a consensus target price of $19.50, despite the recent decline in stock value.
• Insider activity shows significant selling, including CEO Vishwas Seshadri and SVP Brendan O'Malley, who sold shares, indicating potential concerns among executives about the company's stock performance.

Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report)'s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.93 and traded as low as $5.23. Abeona Therapeutics shares last traded at $5.54, with a volume of 1,123,355 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on ABEO. HC Wainwright reaffirmed a "buy" rating and set a $20.00 target price on shares of Abeona Therapeutics in a research report on Monday, August 18th. Oppenheimer raised their target price on Abeona Therapeutics from $19.00 to $20.00 and gave the company an "outperform" rating in a research report on Friday, August 15th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Abeona Therapeutics in a research report on Wednesday. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $19.50.

Abeona Therapeutics Trading Up 5.5%

The firm has a fifty day moving average of $6.28 and a two-hundred day moving average of $5.93. The company has a market cap of $284.09 million, a PE ratio of 7.91 and a beta of 1.42. The company has a current ratio of 6.73, a quick ratio of 6.65 and a debt-to-equity ratio of 0.09.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The biopharmaceutical company reported $1.71 earnings per share for the quarter, topping the consensus estimate of ($0.39) by $2.10. The firm had revenue of $0.40 million during the quarter, compared to analysts' expectations of $21.71 million. As a group, sell-side analysts predict that Abeona Therapeutics Inc. will post -1.16 EPS for the current year.

Insider Activity

In other news, SVP Brendan M. O'malley sold 9,366 shares of the company's stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $5.39, for a total transaction of $50,482.74. Following the sale, the senior vice president directly owned 350,763 shares in the company, valued at $1,890,612.57. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Vishwas Seshadri sold 25,000 shares of Abeona Therapeutics stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $5.24, for a total value of $131,000.00. Following the sale, the chief executive officer owned 1,190,067 shares of the company's stock, valued at approximately $6,235,951.08. This trade represents a 2.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,865 shares of company stock worth $347,777 over the last ninety days. Company insiders own 6.90% of the company's stock.

Institutional Trading of Abeona Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC bought a new stake in Abeona Therapeutics in the 2nd quarter worth approximately $127,000. Squarepoint Ops LLC lifted its position in Abeona Therapeutics by 274.2% in the 2nd quarter. Squarepoint Ops LLC now owns 141,978 shares of the biopharmaceutical company's stock worth $806,000 after buying an additional 104,037 shares during the last quarter. Man Group plc bought a new stake in Abeona Therapeutics in the 2nd quarter worth approximately $67,000. BNP Paribas Financial Markets bought a new stake in Abeona Therapeutics in the 2nd quarter worth approximately $749,000. Finally, Boone Capital Management LLC bought a new stake in Abeona Therapeutics in the 2nd quarter worth approximately $7,126,000. 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.

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