Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) CFO Sells $47,425.56 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CFO Joseph Vazzano sold 9,191 shares of the company’s stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $5.16, for a total transaction of $47,425.56. Following the completion of the sale, the chief financial officer directly owned 482,888 shares in the company, valued at $2,491,702.08. This trade represents a 1.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Joseph Walter Vazzano also recently made the following trade(s):

• On Tuesday, July 21st, Joseph Vazzano sold 1,478 shares of Abeona Therapeutics stock. The shares were sold at an average price of $6.53, for a total transaction of $9,651.34.
• On Thursday, July 9th, Joseph Vazzano sold 24,880 shares of Abeona Therapeutics stock. The stock was sold at an average price of $6.96, for a total transaction of $173,164.80.

Abeona Therapeutics Trading Down 4.6%

Shares of Abeona Therapeutics stock opened at $5.01 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.63 and a quick ratio of 6.40. Abeona Therapeutics Inc. has a 1 year low of $4.00 and a 1 year high of $7.65. The company has a market capitalization of $286.47 million, a P/E ratio of -4.60 and a beta of 1.31. The business has a 50 day moving average price of $6.02 and a 200 day moving average price of $5.73.

Abeona Therapeutics (NASDAQ:ABEO) last posted its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The company had revenue of $11.38 million during the quarter, compared to analysts’ expectations of $12.24 million. Sell-side analysts anticipate that Abeona Therapeutics Inc. will post -0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. WINTON GROUP Ltd acquired a new stake in shares of Abeona Therapeutics during the second quarter worth $256,000. Corient Private Wealth LP acquired a new position in Abeona Therapeutics in the second quarter valued at $556,000. Pale Fire Capital SE lifted its position in Abeona Therapeutics by 17.3% during the second quarter. Pale Fire Capital SE now owns 81,945 shares of the biopharmaceutical company’s stock worth $506,000 after buying an additional 12,100 shares during the period. Headlands Technologies LLC lifted its position in Abeona Therapeutics by 97.5% during the second quarter. Headlands Technologies LLC now owns 125,090 shares of the biopharmaceutical company’s stock worth $773,000 after buying an additional 61,745 shares during the period. Finally, AWM Investment Company Inc. acquired a new stake in Abeona Therapeutics in the 2nd quarter worth about $9,184,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ABEO shares. Wall Street Zen upgraded Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. Cantor Fitzgerald boosted their target price on shares of Abeona Therapeutics from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, September 18th. UBS Group restated a “buy” rating on shares of Abeona Therapeutics in a report on Friday, September 25th. Oppenheimer reaffirmed an “outperform” rating and set a $21.00 price target (down from $22.00) on shares of Abeona Therapeutics in a research note on Friday, August 14th. Finally, HC Wainwright reiterated a “buy” rating on shares of Abeona Therapeutics in a report on Friday, September 25th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.00.

About Abeona Therapeutics

Abeona Therapeutics Inc is a biopharmaceutical company focused on developing and commercializing cell and gene therapies for patients with serious and life-threatening genetic diseases. The company’s programs are designed to address conditions for which existing treatment options are limited or inadequate.

Abeona’s lead product, ZEVASKYN (prademagene zamikeracel, formerly EB-101), is an autologous gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa, a rare inherited disorder that causes fragile skin and chronic wounds.