Abeona Therapeutics (NASDAQ:ABEO) Posts Earnings Results, Beats Estimates By $0.06 EPS

Key Points

• Abeona reported a quarterly loss of $0.08 per share, beating analyst estimates of a $0.14 loss by $0.06.
• Revenue was $13.49 million, below analysts’ $14.82 million expectation.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $21.00; recent insider share sales were reported as covering tax obligations on vested equity awards.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) issued its quarterly earnings data on Monday. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.06, FiscalAI reports. The firm had revenue of $13.49 million for the quarter, compared to analysts' expectations of $14.82 million.

Abeona Therapeutics Stock Performance

Abeona Therapeutics stock opened at $4.17 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.63 and a quick ratio of 6.40. The firm has a market capitalization of $238.44 million, a P/E ratio of -3.83 and a beta of 1.50. Abeona Therapeutics has a 1-year low of $3.91 and a 1-year high of $7.65. The company's 50-day moving average is $5.05 and its 200 day moving average is $5.46.

Analyst Ratings Changes

A number of equities analysts recently commented on ABEO shares. Wall Street Zen raised Abeona Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 1st. Oppenheimer reaffirmed an "outperform" rating and issued a $21.00 price objective (down from $22.00) on shares of Abeona Therapeutics in a research note on Friday, August 14th. Weiss Ratings cut Abeona Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, August 17th. Cantor Fitzgerald increased their target price on Abeona Therapeutics from $28.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, September 18th. Finally, UBS Group reissued a "buy" rating on shares of Abeona Therapeutics in a report on Friday, September 25th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $21.00.

Insider Buying and Selling at Abeona Therapeutics

In related news, CFO Joseph Vazzano sold 9,191 shares of the firm's stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $5.16, for a total transaction of $47,425.56. Following the completion of the sale, the chief financial officer directly owned 482,888 shares of the company's stock, valued at approximately $2,491,702.08. This trade represents a 1.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Vishwas Seshadri sold 19,608 shares of the business's stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $5.16, for a total value of $101,177.28. Following the transaction, the chief executive officer owned 1,286,500 shares of the company's stock, valued at approximately $6,638,340. The trade was a 1.50% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 55,428 shares of company stock valued at $296,508. 7.10% of the stock is owned by company insiders.

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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