Abeona Therapeutics (NASDAQ:ABEO) Director Leila Alland Sells 11,000 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) Director Leila Alland sold 11,000 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $5.92, for a total transaction of $65,120.00. Following the completion of the transaction, the director directly owned 162,614 shares of the company’s stock, valued at approximately $962,674.88. The trade was a 6.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Abeona Therapeutics Trading Up 5.8%

ABEO opened at $6.40 on Friday. The firm has a market cap of $364.74 million, a P/E ratio of 6.60 and a beta of 1.34. Abeona Therapeutics Inc. has a 12 month low of $4.00 and a 12 month high of $7.54. The company has a current ratio of 5.89, a quick ratio of 5.70 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average of $5.63 and a 200 day moving average of $5.25.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.03. The company had revenue of $8.72 million for the quarter, compared to the consensus estimate of $4.57 million. As a group, research analysts forecast that Abeona Therapeutics Inc. will post -0.79 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ABEO. Royal Bank of Canada lifted its stake 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 during the last quarter. Rangeley Capital LLC grew its position in Abeona Therapeutics by 4.2% in the 1st quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company’s stock valued at $269,000 after acquiring an additional 2,400 shares during the last quarter. Renaissance Technologies LLC grew its position in Abeona Therapeutics by 38.6% in the 1st quarter. Renaissance Technologies LLC now owns 161,082 shares of the biopharmaceutical company’s stock valued at $722,000 after acquiring an additional 44,882 shares during the last quarter. Sei Investments Co. increased its stake in Abeona Therapeutics by 142.4% in the first quarter. Sei Investments Co. now owns 172,460 shares of the biopharmaceutical company’s stock worth $773,000 after purchasing an additional 101,307 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new stake in Abeona Therapeutics in the first quarter worth $154,000. Institutional investors own 80.56% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ABEO. Oppenheimer restated an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Stifel Nicolaus set a $17.00 price objective on shares of Abeona Therapeutics in a research report on Tuesday, March 17th. Wall Street Zen raised shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Monday, June 1st. Finally, Weiss Ratings raised shares of Abeona Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.