Abeona Therapeutics Inc. (NASDAQ:ABEO) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analysts rate Abeona Therapeutics “Moderate Buy,” with three buy ratings, one strong-buy rating and one sell rating. The average 12-month price target is $21.00, significantly above the stock’s $5.59 opening price.
• Insiders have sold 144,985 shares worth approximately $980,520 over the past 90 days, while institutional investors and hedge funds own 80.56% of the company.
• Abeona reported a quarterly loss of $0.35 per share, missing the $0.23 consensus estimate, and revenue of $11.38 million versus expectations of $12.24 million.

Shares of Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the five analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $21.00.

A number of brokerages have recently weighed in on ABEO. HC Wainwright restated a "buy" rating and issued a $20.00 target price on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Weiss Ratings cut Abeona Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, August 17th. Cantor Fitzgerald raised their target price on shares of Abeona Therapeutics from $28.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday. Wall Street Zen raised shares of Abeona Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, Oppenheimer reiterated an "outperform" rating and issued a $21.00 price target (down from $22.00) on shares of Abeona Therapeutics in a report on Friday, August 14th.

Insider Activity

In other Abeona Therapeutics news, CFO Joseph Vazzano sold 24,880 shares of the business's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $6.96, for a total transaction of $173,164.80. Following the sale, the chief financial officer directly owned 493,557 shares of the company's stock, valued at $3,435,156.72. The trade was a 4.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mark Alvino sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $5.86, for a total value of $87,900.00. Following the completion of the transaction, the director owned 62,065 shares of the company's stock, valued at approximately $363,700.90. This represents a 19.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 144,985 shares of company stock worth $980,520. 7.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Abeona Therapeutics

Several large investors have recently made changes to their positions in ABEO. Bank of New York Mellon Corp acquired a new stake in Abeona Therapeutics in the second quarter valued at $1,262,000. AIGH Capital Management LLC increased its stake in shares of Abeona Therapeutics by 55.0% during the 1st quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company's stock worth $13,888,000 after purchasing an additional 1,100,000 shares during the last quarter. AWM Investment Company Inc. bought a new stake in shares of Abeona Therapeutics in the 2nd quarter valued at about $9,184,000. Sei Investments Co. lifted its stake in Abeona Therapeutics by 142.4% in the 1st 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 last quarter. Finally, Headlands Technologies LLC grew its holdings in Abeona Therapeutics by 97.5% during the second quarter. Headlands Technologies LLC now owns 125,090 shares of the biopharmaceutical company's stock worth $773,000 after purchasing an additional 61,745 shares during the period. Institutional investors and hedge funds own 80.56% of the company's stock.

Abeona Therapeutics Price Performance

Shares of Abeona Therapeutics stock opened at $5.59 on Friday. The stock has a market capitalization of $319.64 million, a price-to-earnings ratio of -5.13 and a beta of 1.33. The firm's 50-day moving average price is $6.30 and its two-hundred day moving average price is $5.70. The company has a current ratio of 6.63, a quick ratio of 6.40 and a debt-to-equity ratio of 0.01. Abeona Therapeutics has a 1-year low of $4.00 and a 1-year high of $7.65.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.12). The company had revenue of $11.38 million during the quarter, compared to analyst estimates of $12.24 million. On average, equities analysts predict that Abeona Therapeutics will post -0.93 earnings per share for the current fiscal year.

Abeona Therapeutics Company Profile

Abeona Therapeutics Inc is a biopharmaceutical company focused on developing and commercializing cell and gene therapies for patients with serious and life-threatening genetic diseases. The company's programs are designed to address conditions for which existing treatment options are limited or inadequate.

Abeona's lead product, ZEVASKYN (prademagene zamikeracel, formerly EB-101), is an autologous gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa, a rare inherited disorder that causes fragile skin and chronic wounds.

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