Abeona Therapeutics (NASDAQ:ABEO) SVP Brendan O'malley Sells 9,366 Shares

Key Points

• Brendan O'malley, Senior Vice President of Abeona Therapeutics, sold 9,366 shares at an average price of $5.39, reducing his ownership by 2.60% to approximately 350,763 shares.
• Abeona Therapeutics reported a significant earnings surprise with $1.71 EPS, surpassing the consensus estimate of ($0.39), but generated only $0.40 million in revenue against expectations of $21.71 million.
• Investment analysts maintain a positive outlook on Abeona Therapeutics with an average rating of "Buy" and a target price of $19.50.

Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) SVP Brendan O'malley sold 9,366 shares of Abeona Therapeutics stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $5.39, for a total transaction of $50,482.74. Following the transaction, the senior vice president directly owned 350,763 shares of the company's stock, valued at approximately $1,890,612.57. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Abeona Therapeutics Price Performance

Shares of NASDAQ:ABEO remained flat at $5.28 during trading on Wednesday. 996,147 shares of the stock traded hands, compared to its average volume of 1,001,008. The business's 50-day simple moving average is $6.44 and its two-hundred day simple moving average is $5.93. Abeona Therapeutics Inc. has a 52-week low of $3.93 and a 52-week high of $7.54. The stock has a market capitalization of $270.75 million, a P/E ratio of 7.54 and a beta of 1.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.65 and a current ratio of 6.73.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last announced its earnings results on Thursday, August 14th. The biopharmaceutical company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $2.10. The business had revenue of $0.40 million for the quarter, compared to analyst estimates of $21.71 million. On average, equities research analysts predict that Abeona Therapeutics Inc. will post -1.16 EPS for the current fiscal year.

Analyst Ratings Changes

ABEO has been the topic of several recent research reports. Oppenheimer lifted their target price on shares of Abeona Therapeutics from $19.00 to $20.00 and gave the stock an "outperform" rating in a research note on Friday, August 15th. HC Wainwright reiterated a "buy" rating and set a $20.00 price target on shares of Abeona Therapeutics in a report on Monday, August 18th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average target price of $19.50.

Institutional Trading of Abeona Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. purchased a new stake in Abeona Therapeutics in the 2nd quarter valued at about $25,000. Legal & General Group Plc purchased a new stake in Abeona Therapeutics in the 2nd quarter valued at about $27,000. Riverwater Partners LLC purchased a new stake in Abeona Therapeutics in the 2nd quarter valued at about $62,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Abeona Therapeutics in the 2nd quarter valued at about $63,000. Finally, Cannon Global Investment Management LLC purchased a new stake in Abeona Therapeutics in the 1st quarter valued at about $67,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

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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