Sunday, June 26, 2022

Insider Selling: Alvino Mark, Abeona Therapeutics Inc. [ABEO] Director divested 20,000 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Abeona Therapeutics Inc. shares valued at $3,098 were sold by Alvino Mark on Jun 15. At $0.15 per share, Alvino Mark sold 20,000 shares. The insider’s holdings dropped to 27,181 shares worth approximately $4620.77 following the completion of this transaction.


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Also, Alvino Mark sold 35,000 shares, netting a total of over 5,464 in proceeds. Following the sale of shares at $0.16 each, the insider now holds 47,181 shares.

Before that, O’Malley Brendan M. had sold 8,880 shares from its account. In a trade valued at $5,035, the SVP, General Counsel traded Abeona Therapeutics Inc. shares for $0.57 each. Upon closing the transaction, the insider’s holdings decreased to 8,880 shares, worth approximately $34807.5.

As published in a research note from Cantor Fitzgerald on November 11, 2020, Abeona Therapeutics Inc. [ABEO] has been rated up from a Neutral to an Overweight and the price target has been revised to $4. This represents a 95.75% premium over Wednesday’s closing price. Analysts at B. Riley FBR started covering the stock with ‘”a Buy”‘ outlook in a report released in mid September. As of February 10, 2020, SVB Leerink has initiated its “an Outperform” rating for ABEO.

Analyzing ABEO’s Price Performance

On Wednesday, Abeona Therapeutics Inc. [NASDAQ: ABEO] rose 3.04% to $0.17. The stock’s lowest price that day was $0.1601, but it reached a high of $0.18 in the same session. During the last five days, there has been a surge of approximately 11.13%. Over the course of the year, Abeona Therapeutics Inc. shares have dropped approximately -48.75%. Shares of the company reached a 52-week high of $0.3850 on 01/04/22 and a 52-week low of $0.1303 on 05/11/22. A 50-day SMA is recorded $0.1893, while a 200-day SMA reached $0.4866. Nevertheless, trading volume fell to 1.6 million shares from 3.24 million shares the previous day.

Support And Resistance Levels for Abeona Therapeutics Inc. (ABEO)

According to the 24-hour chart, there is a support level at 0.1619, which, if violated, would cause prices to drop to 0.1510. In the upper region, resistance lies at 0.1818. The next price resistance is at 0.1908. RSI (Relative Strength Index) is 51.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0045, which suggests the price will decrease in the coming days. Percent R is at 36.72%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Abeona Therapeutics Inc. subject to short interest?

Stocks of Abeona Therapeutics Inc. saw a sharp rise in short interest on Apr 28, 2022 jumping by 100000.0 shares to 4.04 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 3.94 million shares. A jump of 2.48% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.89 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.89.

Which companies own the most shares of Abeona Therapeutics Inc. (ABEO)?

According to Adage Capital Management LP filings, the company currently owns 8,007,272 shares, which is about 5.45% of the total ABEO shares outstanding. The investor’s shares have plunged by 0 from its previous 13-F filing of 8007272.0 shares. With the completion of the buy, AIGH Capital Management LLC’s stake is now worth $844,217. Point72 Asset Management LP reduced a 0.00% interest valued at $0.54 million while Renaissance Technologies LLC purchased a 148,200 stake. A total of 0 shares of Abeona Therapeutics Inc. were bought by Knoll Capital Management LP during the quarter, and -1,430,219 were sold by The Vanguard Group, Inc. In its current portfolio, D. E. Shaw & Co. LP holds 2,034,151 shares valued at $0.34 million.

In terms of Abeona Therapeutics Inc. share price expectations, FactSet research, analysts set an average price target of $1.50 in the next 12 months, up nearly 782.35% from the previous closing price of $0.17. Analysts anticipate Abeona Therapeutics Inc. stock to reach $2.00 by 2022, with the lowest price target being $1.00. In spite of this, 2 analysts ranked Abeona Therapeutics Inc. stock as an Overweight at the end of 2022.

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