Abeona Therapeutics (NASDAQ:ABEO) SVP Sells 12,050 Shares

Key Points

• Abeona Therapeutics SVP Brendan O’Malley sold 12,050 shares on July 9 at an average price of $6.96, totaling about $83,868. The sale reduced his ownership by 2.74% and was tied to tax withholding on vested equity awards.
• The stock was trading higher during the session, up to $7.12, with volume above its average. Abeona now has a market cap of about $405.77 million and remains near its 52-week high of $7.54.
• Recent fundamentals and analyst sentiment are mixed but constructive: Abeona beat quarterly EPS and revenue estimates, and analysts currently rate the stock a “Moderate Buy” with a consensus price target of $19.00.

Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) SVP Brendan O'malley sold 12,050 shares of Abeona Therapeutics stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $6.96, for a total transaction of $83,868.00. Following the sale, the senior vice president owned 427,953 shares of the company's stock, valued at approximately $2,978,552.88. The trade was a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Abeona Therapeutics Price Performance

NASDAQ ABEO traded up $0.32 during mid-day trading on Thursday, hitting $7.12. The stock had a trading volume of 2,608,182 shares, compared to its average volume of 1,352,993. The company has a 50 day simple moving average of $5.75 and a 200 day simple moving average of $5.31. The company has a quick ratio of 5.70, a current ratio of 5.89 and a debt-to-equity ratio of 0.03. The company has a market cap of $405.77 million, a price-to-earnings ratio of 7.34 and a beta of 1.34. Abeona Therapeutics Inc. has a 52-week low of $4.00 and a 52-week high of $7.54.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating analysts' consensus estimates of ($0.33) by $0.03. The firm had revenue of $8.72 million during the quarter, compared to analysts' expectations of $4.57 million. Equities analysts forecast that Abeona Therapeutics Inc. will post -0.79 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on ABEO shares. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 price target on shares of Abeona Therapeutics in a report on Thursday, May 28th. Wall Street Zen upgraded Abeona Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Monday, June 1st. Stifel Nicolaus set a $17.00 target price on Abeona Therapeutics in a research note on Tuesday, March 17th. Finally, Weiss Ratings raised Abeona Therapeutics from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, June 29th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $19.00.

Institutional Investors Weigh In On Abeona Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Aberdeen Group plc acquired a new position in Abeona Therapeutics in the 4th quarter valued at $3,248,000. AIGH Capital Management LLC acquired a new stake in shares of Abeona Therapeutics during the fourth quarter worth $10,540,000. Nan Fung Trinity HK Ltd. grew its position in shares of Abeona Therapeutics by 70.6% in the fourth quarter. Nan Fung Trinity HK Ltd. now owns 956,770 shares of the biopharmaceutical company's stock valued at $5,042,000 after purchasing an additional 396,000 shares during the period. Renaissance Technologies LLC grew its position in shares of Abeona Therapeutics by 38.6% in the first quarter. Renaissance Technologies LLC now owns 161,082 shares of the biopharmaceutical company's stock valued at $722,000 after purchasing an additional 44,882 shares during the period. Finally, Sei Investments Co. grew its position in shares of Abeona Therapeutics by 142.4% in the first quarter. Sei Investments Co. now owns 172,460 shares of the biopharmaceutical company's stock valued at $773,000 after purchasing an additional 101,307 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Abeona Therapeutics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.