Insider Selling: Abeona Therapeutics Inc. (NASDAQ:ABEO) Director Sells 13,093 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) Director Mark Alvino sold 13,093 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $5.86, for a total transaction of $76,724.98. Following the transaction, the director owned 77,252 shares in the company, valued at $452,696.72. This represents a 14.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Mark Alvino also recently made the following trade(s):

• On Tuesday, May 27th, Mark Alvino sold 2,000 shares of Abeona Therapeutics stock. The shares were sold at an average price of $6.38, for a total transaction of $12,760.00.
• On Friday, May 16th, Mark Alvino sold 8,000 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.68, for a total transaction of $45,440.00.

Abeona Therapeutics Stock Down 1.9%

Shares of ABEO traded down $0.11 on Friday, reaching $5.74. The company's stock had a trading volume of 774,254 shares, compared to its average volume of 701,305. The company has a current ratio of 4.90, a quick 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 stock has a market capitalization of $293.66 million, a PE ratio of -4.52 and a beta of 1.51. The firm has a fifty day moving average of $6.01 and a 200-day moving average of $5.57.

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 analysts' consensus estimates of ($0.35) by $0.11. Equities analysts predict that Abeona Therapeutics Inc. will post -1.16 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Abeona Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. increased its stake in Abeona Therapeutics by 20.1% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,902,360 shares of the biopharmaceutical company's stock valued at $21,736,000 after buying an additional 652,366 shares during the last quarter. Western Standard LLC increased its stake in Abeona Therapeutics by 22.8% in the 4th quarter. Western Standard LLC now owns 2,084,418 shares of the biopharmaceutical company's stock valued at $11,610,000 after buying an additional 386,321 shares during the last quarter. Jane Street Group LLC increased its stake in Abeona Therapeutics by 894.8% in the 4th quarter. Jane Street Group LLC now owns 131,478 shares of the biopharmaceutical company's stock valued at $732,000 after buying an additional 118,262 shares during the last quarter. 683 Capital Management LLC increased its stake in Abeona Therapeutics by 17.3% in the 4th quarter. 683 Capital Management LLC now owns 791,845 shares of the biopharmaceutical company's stock valued at $4,411,000 after buying an additional 116,845 shares during the last quarter. Finally, Newtyn Management LLC increased its stake in Abeona Therapeutics by 26.3% in the 1st quarter. Newtyn Management LLC now owns 480,000 shares of the biopharmaceutical company's stock valued at $2,285,000 after buying an additional 100,000 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

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.