Abeona Therapeutics (NASDAQ:ABEO) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of Abeona Therapeutics (NASDAQ:ABEO) from a sell rating to a strong sell rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also commented on ABEO. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Abeona Therapeutics in a research report on Thursday, May 28th. Weiss Ratings raised shares of Abeona Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Abeona Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Abeona Therapeutics Trading Down 7.4%

Abeona Therapeutics stock opened at $6.48 on Friday. Abeona Therapeutics has a 52 week low of $4.00 and a 52 week high of $7.54. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.70 and a current ratio of 5.89. The firm has a market capitalization of $369.30 million, a price-to-earnings ratio of 6.68 and a beta of 1.34. The company has a 50 day moving average price of $5.92 and a 200 day moving average price of $5.39.

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

Insider Activity at Abeona Therapeutics

In other Abeona Therapeutics news, Director Leila Alland sold 11,000 shares of Abeona Therapeutics stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $5.92, for a total value of $65,120.00. Following the completion of the sale, the director directly owned 162,614 shares in the company, valued at $962,674.88. The trade was a 6.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Madhav Vasanthavada sold 12,606 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $6.96, for a total transaction of $87,737.76. Following the completion of the sale, the insider directly owned 290,623 shares of the company’s stock, valued at $2,022,736.08. This represents a 4.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 311,291 shares of company stock worth $1,877,908. 7.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Abeona Therapeutics

A number of large investors have recently bought and sold shares of ABEO. Goldman Sachs Group Inc. raised its holdings in Abeona Therapeutics by 49.6% during the first quarter. Goldman Sachs Group Inc. now owns 200,450 shares of the biopharmaceutical company’s stock valued at $954,000 after buying an additional 66,422 shares in the last quarter. Geode Capital Management LLC boosted its position in Abeona Therapeutics by 129.1% during the second quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock worth $6,282,000 after purchasing an additional 623,243 shares during the period. Creative Planning boosted its holdings in shares of Abeona Therapeutics by 43.0% during the 2nd quarter. Creative Planning now owns 14,310 shares of the biopharmaceutical company’s stock worth $81,000 after buying an additional 4,305 shares during the period. JPMorgan Chase & Co. grew its stake in Abeona Therapeutics by 255.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 831,132 shares of the biopharmaceutical company’s stock valued at $4,721,000 after buying an additional 597,373 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in Abeona Therapeutics in the 2nd quarter worth $27,000. 80.56% of the stock is currently owned by institutional investors.

Abeona Therapeutics Company Profile

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.