Abeona Therapeutics (NASDAQ:ABEO) Director Mark Alvino Sells 15,000 Shares

Key Points

• Director Mark Alvino sold 15,000 Abeona Therapeutics shares at an average price of $5.86, generating $87,900. His remaining stake fell to 62,065 shares, a 19.46% decrease.
• ABEO closed at $5.98, with a market capitalization of approximately $341.9 million. The company recently reported a quarterly loss of $0.35 per share and revenue of $11.38 million, both below analyst expectations.
• Institutional investors own 80.56% of the stock, while analysts’ consensus rating is Hold with an average price target of $19.33; ratings range from Buy to Sell.

Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) Director Mark Alvino sold 15,000 shares of the business's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $5.86, for a total value of $87,900.00. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Abeona Therapeutics Stock Performance

ABEO traded up $0.13 during trading on Tuesday, hitting $5.98. The company's stock had a trading volume of 683,706 shares, compared to its average volume of 1,257,775. Abeona Therapeutics Inc. has a one year low of $4.00 and a one year high of $7.65. The business's 50 day simple moving average is $6.41 and its 200-day simple moving average is $5.65. The firm has a market cap of $341.94 million, a PE ratio of -5.49 and a beta of 1.35. The company has a quick ratio of 6.40, a current ratio of 6.63 and a debt-to-equity ratio of 0.01.

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

Institutional Trading of Abeona Therapeutics

Several institutional investors have recently added to or reduced their stakes in ABEO. Corient Private Wealth LP bought a new position in shares of Abeona Therapeutics during the second quarter valued at approximately $556,000. Pale Fire Capital SE boosted its holdings in Abeona Therapeutics by 17.3% during the 2nd quarter. Pale Fire Capital SE now owns 81,945 shares of the biopharmaceutical company's stock valued at $506,000 after acquiring an additional 12,100 shares during the period. Headlands Technologies LLC boosted its holdings in Abeona Therapeutics by 97.5% during the 2nd quarter. Headlands Technologies LLC now owns 125,090 shares of the biopharmaceutical company's stock valued at $773,000 after acquiring an additional 61,745 shares during the period. AWM Investment Company Inc. bought a new position in Abeona Therapeutics in the 2nd quarter valued at $9,184,000. Finally, Bank of New York Mellon Corp purchased a new stake in Abeona Therapeutics in the second quarter worth $1,262,000. Institutional investors own 80.56% of the company's stock.

Analyst Upgrades and Downgrades

ABEO has been the topic of several research reports. Weiss Ratings cut Abeona Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, August 17th. HC Wainwright reiterated a "buy" rating and issued a $20.00 target price on shares of Abeona Therapeutics in a report on Thursday, May 28th. Oppenheimer reissued 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. Finally, Wall Street Zen upgraded Abeona Therapeutics from a "strong sell" rating to a "sell" rating in a report on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Abeona Therapeutics has an average rating of "Hold" and a consensus price target of $19.33.

About Abeona Therapeutics

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.

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