Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) Insider Sells 5,450 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) insider Madhav Vasanthavada sold 5,450 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $5.30, for a total value of $28,885.00. Following the transaction, the insider owned 303,451 shares in the company, valued at approximately $1,608,290.30. This trade represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 Monday, June 8th, Madhav Vasanthavada sold 4,170 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.43, for a total value of $22,643.10.
• On Monday, May 11th, Madhav Vasanthavada sold 5,548 shares of Abeona Therapeutics stock. The stock was sold at an average price of $5.96, for a total value of $33,066.08.

Abeona Therapeutics Stock Performance

Shares of Abeona Therapeutics stock traded up $0.07 during trading on Tuesday, reaching $5.45. The company’s stock had a trading volume of 1,159,558 shares, compared to its average volume of 981,006. The company has a quick ratio of 5.70, a current ratio of 5.89 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average price is $5.37 and its 200-day moving average price is $5.16. Abeona Therapeutics Inc. has a 52 week low of $4.00 and a 52 week high of $7.54. The firm has a market cap of $310.60 million, a PE ratio of 5.62 and a beta of 1.35.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.03. The business had revenue of $8.72 million during the quarter, compared to analyst estimates of $4.57 million. Equities analysts forecast that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current year.

Institutional Trading of Abeona Therapeutics

Large investors have recently made changes to their positions in the company. Legal & General Group Plc bought a new position in Abeona Therapeutics in the second quarter valued at approximately $27,000. Royal Bank of Canada lifted its stake in Abeona Therapeutics by 49.6% during the first quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 2,155 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Abeona Therapeutics in the 3rd quarter valued at $37,000. Truvestments Capital LLC increased its stake 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 valued at $54,000 after purchasing an additional 6,770 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Abeona Therapeutics during the 4th quarter worth $57,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ABEO. Stifel Nicolaus set a $17.00 price objective on Abeona Therapeutics in a research note on Tuesday, March 17th. Oppenheimer reiterated an “outperform” rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. Wall Street Zen raised Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Monday, June 1st. Finally, HC Wainwright reaffirmed a “buy” rating and issued 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.00.

About Abeona Therapeutics

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.