Mark Alvino Sells 6,500 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) Director Mark Alvino sold 6,500 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $5.46, for a total value of $35,490.00. Following the completion of the sale, the director directly owned 77,565 shares in the company, valued at $423,504.90. This represents a 7.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Abeona Therapeutics Price Performance

ABEO stock opened at $5.44 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.89 and a quick ratio of 5.70. The firm has a market capitalization of $310.03 million, a P/E ratio of 5.61 and a beta of 1.35. The business’s 50-day moving average is $5.12 and its two-hundred day moving average is $5.05. Abeona Therapeutics Inc. has a 1 year low of $4.00 and a 1 year high of $7.54.

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. The company had revenue of $8.72 million during the quarter, compared to analyst estimates of $4.57 million. Analysts anticipate that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Abeona Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada raised its position in shares of Abeona Therapeutics by 49.6% during the 1st quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 2,155 shares in the last quarter. Legato Capital Management LLC raised its position in shares of Abeona Therapeutics by 21.0% during the 4th quarter. Legato Capital Management LLC now owns 13,180 shares of the biopharmaceutical company’s stock worth $69,000 after acquiring an additional 2,290 shares in the last quarter. Deutsche Bank AG raised its position in shares of Abeona Therapeutics by 6.2% during the 4th quarter. Deutsche Bank AG now owns 39,368 shares of the biopharmaceutical company’s stock worth $207,000 after acquiring an additional 2,303 shares in the last quarter. Rangeley Capital LLC raised its position in shares of Abeona Therapeutics by 4.2% during the 1st quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company’s stock worth $269,000 after acquiring an additional 2,400 shares in the last quarter. Finally, LPL Financial LLC raised its position in shares of Abeona Therapeutics by 5.3% during the 4th quarter. LPL Financial LLC now owns 62,873 shares of the biopharmaceutical company’s stock worth $331,000 after acquiring an additional 3,165 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ABEO shares. Oppenheimer reaffirmed an “outperform” rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a research report on Thursday, March 19th. Stifel Nicolaus set a $17.00 target price on Abeona Therapeutics in a research report on Tuesday, March 17th. Finally, Wall Street Zen raised Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.00.

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.