Abeona Therapeutics (NASDAQ:ABEO) Stock Price Crosses Above 50 Day Moving Average – Time to Sell?

Abeona Therapeutics Inc. (NASDAQ:ABEO) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $5.57 and traded as high as $5.84. Abeona Therapeutics shares last traded at $5.62, with a volume of 1,068,864 shares.

Analyst Ratings Changes

Several brokerages recently weighed in on ABEO. HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a report on Thursday, May 28th. Oppenheimer reaffirmed an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Stifel Nicolaus set a $17.00 target price on shares of 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 note on Monday, June 1st. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.00.

Abeona Therapeutics Trading Down 1.7%

The company’s fifty day simple moving average is $5.57 and its two-hundred day simple moving average is $5.23. The company has a quick ratio of 5.70, a current ratio of 5.89 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $320.28 million, a price-to-earnings ratio of 5.79 and a beta of 1.35.

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

Insider Activity

In other news, Director Christine Berni Silverstein sold 18,160 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $5.71, for a total transaction of $103,693.60. Following the sale, the director owned 119,562 shares of the company’s stock, valued at $682,699.02. This trade represents a 13.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Eric Crombez sold 26,143 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $5.53, for a total value of $144,570.79. Following the sale, the director directly owned 37,313 shares in the company, valued at approximately $206,340.89. This represents a 41.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 182,784 shares of company stock valued at $994,940. Company insiders own 7.10% of the company’s stock.

Institutional Trading of Abeona Therapeutics

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