Insider Selling: Abeona Therapeutics Inc (NASDAQ:ABEO) CFO Sells 17,795 Shares of Stock

Abeona Therapeutics Inc (NASDAQ:ABEO - Get Free Report) CFO Joseph Walter Vazzano sold 17,795 shares of Abeona Therapeutics stock in a transaction on Friday, June 6th. The shares were sold at an average price of $6.76, for a total value of $120,294.20. Following the completion of the transaction, the chief financial officer now owns 491,246 shares of the company's stock, valued at approximately $3,320,822.96. This trade represents a 3.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Abeona Therapeutics Stock Performance

Shares of ABEO traded up $0.26 during trading hours on Friday, reaching $6.74. 938,085 shares of the company traded hands, compared to its average volume of 639,223. The stock has a market capitalization of $344.80 million, a P/E ratio of -2.51 and a beta of 1.68. The company has a quick ratio of 6.12, a current ratio of 6.12 and a debt-to-equity ratio of 0.31. Abeona Therapeutics Inc has a 12-month low of $3.93 and a 12-month high of $7.32. The business has a fifty day moving average price of $5.51 and a 200-day moving average price of $5.57.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, topping analysts' consensus estimates of ($0.35) by $0.11. Equities analysts anticipate that Abeona Therapeutics Inc will post -1.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Stifel Nicolaus dropped their price target on Abeona Therapeutics from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Friday, May 16th. HC Wainwright upped their target price on Abeona Therapeutics from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Oppenheimer initiated coverage on Abeona Therapeutics in a report on Monday. They set an "outperform" rating and a $19.00 target price on the stock. Wall Street Zen cut Abeona Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 15th. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of Abeona Therapeutics in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $19.25.

Hedge Funds Weigh In On Abeona Therapeutics

Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP purchased a new position in shares of Abeona Therapeutics in the 4th quarter valued at $520,000. Trexquant Investment LP purchased a new stake in Abeona Therapeutics in the fourth quarter valued at approximately $382,000. Adage Capital Partners GP L.L.C. lifted its position in shares of Abeona Therapeutics by 20.1% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,902,360 shares of the biopharmaceutical company's stock worth $21,736,000 after purchasing an additional 652,366 shares in the last quarter. Oxford Asset Management LLP acquired a new stake in Abeona Therapeutics in the fourth quarter valued at $118,000. Finally, Northern Trust Corp increased its stake in Abeona Therapeutics by 6.6% during the fourth quarter. Northern Trust Corp now owns 184,929 shares of the biopharmaceutical company's stock valued at $1,030,000 after purchasing an additional 11,478 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

About Abeona Therapeutics

Abeona Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and delivering gene therapy products for severe and life-threatening rare diseases. The company's lead programs are EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB); ABO-102, which are AAV based gene therapies for Sanfilippo syndrome type A; and ABO-101, an adeno-associated virus (AAV) based gene therapies for Sanfilippo syndrome type B.

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