Madhav Vasanthavada Sells 5,548 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) insider Madhav Vasanthavada sold 5,548 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $5.96, for a total transaction of $33,066.08. Following the transaction, the insider owned 313,071 shares of the company’s stock, valued at approximately $1,865,903.16. This represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Abeona Therapeutics Trading Down 3.1%

Shares of NASDAQ ABEO opened at $5.68 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.74 and a current ratio of 6.93. Abeona Therapeutics Inc. has a 52-week low of $4.00 and a 52-week high of $7.54. The firm has a 50 day moving average price of $5.05 and a two-hundred day moving average price of $5.04. The stock has a market cap of $323.08 million, a P/E ratio of 5.51 and a beta of 1.35.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings results on Tuesday, March 17th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.01. The business had revenue of $3.00 million during the quarter, compared to analyst estimates of $5.65 million. As a group, equities analysts forecast that Abeona Therapeutics Inc. will post -0.73 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Aberdeen Group plc bought a new position in shares of Abeona Therapeutics in the fourth quarter valued at $3,248,000. AIGH Capital Management LLC bought a new position in shares of Abeona Therapeutics in the fourth quarter valued at $10,540,000. Nan Fung Trinity HK Ltd. lifted its stake in shares of Abeona Therapeutics by 70.6% in the fourth quarter. Nan Fung Trinity HK Ltd. now owns 956,770 shares of the biopharmaceutical company’s stock valued at $5,042,000 after buying an additional 396,000 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Abeona Therapeutics in the first quarter valued at $154,000. Finally, Simplify Asset Management Inc. lifted its stake in shares of Abeona Therapeutics by 1.5% in the first quarter. Simplify Asset Management Inc. now owns 507,988 shares of the biopharmaceutical company’s stock valued at $2,276,000 after buying an additional 7,646 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ABEO. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Abeona Therapeutics in a research note on Wednesday, January 21st. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Abeona Therapeutics in a report on Thursday, March 19th. Oppenheimer restated an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Finally, Stifel Nicolaus set a $17.00 price target on shares of Abeona Therapeutics in a report on Tuesday, March 17th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” 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.