Abeona Therapeutics (NASDAQ:ABEO) Insider Sells 4,170 Shares

Abeona Therapeutics Inc. (NASDAQ:ABEO) insider Madhav Vasanthavada sold 4,170 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $5.43, for a total transaction of $22,643.10. Following the completion of the sale, the insider owned 308,901 shares in the company, valued at approximately $1,677,332.43. This trade represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Madhav Vasanthavada also recently made the following trade(s):

• On Tuesday, June 9th, Madhav Vasanthavada sold 5,450 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.30, for a total transaction of $28,885.00.
• On Monday, May 11th, Madhav Vasanthavada sold 5,548 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.96, for a total value of $33,066.08.

Abeona Therapeutics Trading Up 1.3%

NASDAQ:ABEO traded up $0.07 during midday trading on Tuesday, hitting $5.45. 1,159,558 shares of the company traded hands, compared to its average volume of 981,006. The company has a current ratio of 5.89, a quick ratio of 5.70 and a debt-to-equity ratio of 0.03. Abeona Therapeutics Inc. has a 12-month low of $4.00 and a 12-month high of $7.54. The firm has a market capitalization of $310.60 million, a P/E ratio of 5.62 and a beta of 1.35. The firm’s fifty day moving average is $5.37 and its 200-day moving average is $5.16.

Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.03. The firm had revenue of $8.72 million during the quarter, compared to the consensus estimate of $4.57 million. On average, sell-side analysts predict that Abeona Therapeutics Inc. will post -0.79 EPS for the current year.

Hedge Funds Weigh In On Abeona Therapeutics

Institutional investors have recently bought and sold shares of the business. Legal & General Group Plc bought a new stake in Abeona Therapeutics during the second quarter valued at about $27,000. Royal Bank of Canada boosted its holdings in shares of Abeona Therapeutics by 49.6% in the 1st quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 2,155 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Abeona Therapeutics in the 3rd quarter valued at about $37,000. Truvestments Capital LLC grew its position in shares of Abeona Therapeutics by 191.4% in the 4th quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 6,770 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Abeona Therapeutics during the 4th quarter worth approximately $57,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ABEO shares. Stifel Nicolaus set a $17.00 target price on shares of Abeona Therapeutics in a research note on Tuesday, March 17th. Wall Street Zen upgraded shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Monday, June 1st. Oppenheimer restated an “outperform” rating on shares of Abeona Therapeutics in a research note on Monday, March 9th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Two equities research 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 stock presently has an average rating of “Hold” and a consensus price target of $19.00.

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.