Insider Selling: Abeona Therapeutics Inc. (NASDAQ:ABEO) Director Sells 10,738 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) Director Faith L. Charles sold 10,738 shares of the business's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total value of $62,924.68. Following the sale, the director directly owned 139,094 shares in the company, valued at $815,090.84. This trade represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Abeona Therapeutics Trading Down 1.9%

Shares of Abeona Therapeutics stock traded down $0.11 during trading on Friday, reaching $5.74. 774,254 shares of the company were exchanged, compared to its average volume of 701,305. The company has a quick ratio of 4.90, a current ratio of 4.90 and a debt-to-equity ratio of 0.27. Abeona Therapeutics Inc. has a twelve month low of $3.93 and a twelve month high of $7.32. The business has a 50-day moving average price of $6.01 and a 200-day moving average price of $5.57. The firm has a market capitalization of $293.66 million, a price-to-earnings ratio of -4.52 and a beta of 1.51.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on ABEO. HC Wainwright upped their target price on Abeona Therapeutics from $15.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Alliance Global Partners reaffirmed a "buy" rating on shares of Abeona Therapeutics in a research report on Thursday, May 15th. Stifel Nicolaus dropped their target price on Abeona Therapeutics from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Wall Street Zen lowered Abeona Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 15th. Finally, Oppenheimer started coverage on Abeona Therapeutics in a research report on Monday, June 2nd. They issued an "outperform" rating and a $19.00 target price on the stock. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $19.25.

Institutional Trading of Abeona Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. OMERS ADMINISTRATION Corp increased its position in shares of Abeona Therapeutics by 11.0% in the first quarter. OMERS ADMINISTRATION Corp now owns 72,200 shares of the biopharmaceutical company's stock valued at $344,000 after acquiring an additional 7,155 shares during the last quarter. Twinbeech Capital LP acquired a new stake in shares of Abeona Therapeutics in the fourth quarter valued at about $58,000. Northern Trust Corp increased its position in shares of Abeona Therapeutics by 6.6% in the fourth quarter. Northern Trust Corp now owns 184,929 shares of the biopharmaceutical company's stock valued at $1,030,000 after acquiring an additional 11,478 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Abeona Therapeutics in the fourth quarter valued at about $67,000. Finally, Cannon Global Investment Management LLC acquired a new stake in shares of Abeona Therapeutics in the first quarter valued at about $67,000. Institutional investors and hedge funds own 80.56% of the company's stock.

Abeona Therapeutics Company Profile

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.