Abeona Therapeutics (NASDAQ:ABEO) Stock Crosses Above 50-Day Moving Average - Should You Sell?

Abeona Therapeutics Inc (NASDAQ:ABEO - Get Free Report)'s share price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $5.04 and traded as high as $5.48. Abeona Therapeutics shares last traded at $5.33, with a volume of 1,045,154 shares traded.

Analyst Ratings Changes

ABEO has been the subject of a number of recent research reports. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 target price on shares of Abeona Therapeutics in a research note on Monday, March 24th. StockNews.com upgraded Abeona Therapeutics from a "sell" rating to a "hold" rating in a research report on Monday, March 24th. Finally, Oppenheimer started coverage on Abeona Therapeutics in a research report on Wednesday, March 5th. They set an "outperform" rating and a $16.00 price objective for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $17.50.

Abeona Therapeutics Stock Down 0.9 %

The company has a market capitalization of $258.64 million, a PE ratio of -1.97 and a beta of 1.71. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $5.03 and a 200 day moving average of $5.61.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.43) by $0.19. Equities research analysts anticipate that Abeona Therapeutics Inc will post -1.16 EPS for the current year.

Insider Activity

In related news, CEO Vishwas Seshadri sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $4.78, for a total value of $119,500.00. Following the sale, the chief executive officer now owns 1,355,322 shares of the company's stock, valued at $6,478,439.16. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.40% of the company's stock.

Institutional Investors Weigh In On Abeona Therapeutics

A number of large investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in shares of Abeona Therapeutics during the third quarter worth $84,000. Geode Capital Management LLC boosted its position in shares of Abeona Therapeutics by 21.7% during the 3rd quarter. Geode Capital Management LLC now owns 465,317 shares of the biopharmaceutical company's stock worth $2,942,000 after acquiring an additional 83,050 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Abeona Therapeutics by 74.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 67,138 shares of the biopharmaceutical company's stock valued at $424,000 after acquiring an additional 28,606 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Abeona Therapeutics during the 4th quarter worth about $520,000. Finally, Trexquant Investment LP acquired a new position in Abeona Therapeutics in the fourth quarter valued at approximately $382,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

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.