Abeona Therapeutics Inc. (NASDAQ:ABEO) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts rate Abeona Therapeutics “Moderate Buy”: Five of six covering analysts recommend buying the stock, while one recommends selling; the average 12-month price target is $21.
• The company reported a quarterly loss of $0.35 per share, missing the $0.23 loss analysts expected, and revenue of $11.38 million, below the $12.24 million consensus.
• Institutional investors reported new or increased positions, while company insiders sold shares to cover tax withholding on vested equity awards.

Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $21.00.

Several analysts have recently commented on ABEO shares. Wall Street Zen raised Abeona Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 1st. Oppenheimer restated an "outperform" rating and set a $21.00 target price (down from $22.00) on shares of Abeona Therapeutics in a research report on Friday, August 14th. Roth Capital assumed coverage on shares of Abeona Therapeutics in a report on Thursday, September 17th. They issued a "buy" rating and a $17.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating on shares of Abeona Therapeutics in a report on Friday, September 25th. Finally, Weiss Ratings lowered Abeona Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday, August 17th.

Insider Activity

In related news, CFO Joseph Vazzano sold 9,191 shares of the firm's stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $5.16, for a total transaction of $47,425.56. Following the sale, the chief financial officer directly owned 482,888 shares in the company, valued at approximately $2,491,702.08. This trade represents a 1.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Madhav Vasanthavada sold 4,902 shares of the stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $5.16, for a total value of $25,294.32. Following the completion of the sale, the insider directly owned 285,721 shares of the company's stock, valued at approximately $1,474,320.36. This represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 55,428 shares of company stock worth $296,508 over the last ninety days. 7.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new stake in Abeona Therapeutics during the 2nd quarter valued at approximately $1,262,000. AWM Investment Company Inc. acquired a new stake in shares of Abeona Therapeutics in the second quarter worth $9,184,000. AIGH Capital Management LLC bought a new position in shares of Abeona Therapeutics during the third quarter worth about $15,225,000. Sei Investments Co. raised its stake in Abeona Therapeutics by 142.4% during 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 period. Finally, Simplify Asset Management Inc. bought a new position in Abeona Therapeutics during the third quarter valued at about $1,451,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

Abeona Therapeutics Price Performance

Shares of Abeona Therapeutics stock opened at $4.17 on Friday. The stock has a market cap of $238.44 million, a P/E ratio of -3.83 and a beta of 1.50. Abeona Therapeutics has a one year low of $3.91 and a one year high of $7.65. The stock's fifty day moving average is $5.05 and its 200 day moving average is $5.46. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.40 and a current ratio of 6.63.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last posted its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The company had revenue of $11.38 million during the quarter, compared to analysts' expectations of $12.24 million. Sell-side analysts anticipate that Abeona Therapeutics will post -0.88 earnings per share for the current year.

Abeona Therapeutics Company Profile

Abeona Therapeutics Inc NASDAQ: ABEO is a biopharmaceutical company focused on developing and commercializing cell and gene therapies for serious and rare genetic diseases. The company's programs are designed to address conditions with limited treatment options, including diseases caused by genetic defects affecting the skin and other tissues.

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

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