Brendan O’malley Sells 6,305 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) SVP Brendan O’malley sold 6,305 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $5.30, for a total value of $33,416.50. Following the transaction, the senior vice president owned 440,003 shares in the company, valued at approximately $2,332,015.90. This trade represents a 1.41% decrease in their position. The sale was disclosed in a legal 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.

Abeona Therapeutics Trading Down 1.7%

Shares of ABEO stock opened at $5.36 on Thursday. Abeona Therapeutics Inc. has a 12 month low of $4.00 and a 12 month high of $7.54. 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 is $5.40 and its two-hundred day moving average is $5.17. The company has a market cap of $305.49 million, a PE ratio of 5.53 and a beta of 1.35.

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

Wall Street Analysts Forecast Growth

ABEO has been the subject of several research reports. Oppenheimer reissued 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 research report on Monday, June 1st. Stifel Nicolaus set a $17.00 price objective on Abeona Therapeutics in a research report on Tuesday, March 17th. Finally, HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a research report on Thursday, May 28th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Abeona Therapeutics has an average rating of “Hold” and an average target price of $19.00.

Institutional Investors Weigh In On Abeona Therapeutics

Several hedge funds have recently modified their holdings of the business. Royal Bank of Canada boosted its position in shares of Abeona Therapeutics by 49.6% in the first quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 2,155 shares during the period. Rangeley Capital LLC lifted its position in Abeona Therapeutics by 4.2% in the first quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company’s stock worth $269,000 after purchasing an additional 2,400 shares during the period. Renaissance Technologies LLC lifted its position in Abeona Therapeutics by 38.6% in the first quarter. Renaissance Technologies LLC now owns 161,082 shares of the biopharmaceutical company’s stock worth $722,000 after purchasing an additional 44,882 shares during the period. Sei Investments Co. lifted its position in Abeona Therapeutics by 142.4% in the first quarter. Sei Investments Co. now owns 172,460 shares of the biopharmaceutical company’s stock worth $773,000 after purchasing an additional 101,307 shares during the period. Finally, Dimensional Fund Advisors LP bought a new position in Abeona Therapeutics in the first quarter worth $154,000. 80.56% of the stock is owned by institutional investors.

More Abeona Therapeutics News

Here are the key news stories impacting Abeona Therapeutics this week:

• Positive Sentiment: Abeona’s last quarterly report beat expectations, with EPS of -$0.30 versus -$0.33 expected and revenue of $8.72 million versus $4.57 million forecast, supporting the longer-term bullish thesis.
• Positive Sentiment: Analysts remain generally constructive, with an average rating of Hold and an average price target of $19.00, well above the current share price.
• Neutral Sentiment: The company updated its investor presentation under Regulation FD, which appears to be a routine communications update rather than a major business catalyst. Article: Abeona Therapeutics Updates Investor Presentation Under Regulation FD
• Neutral Sentiment: Abeona continues to show strong liquidity and low leverage, which gives it financial flexibility while it advances its gene- and cell-therapy pipeline.
• Negative Sentiment: CEO Vishwas Seshadri sold shares in multiple transactions, and CFO Joseph Walter Vazzano also sold shares, adding to investor concern about insider confidence, even though the company said the sales were tied to tax withholding and equity vesting.
• Negative Sentiment: Additional selling from insiders Madhav Vasanthavada and Brendan M. O’Malley reinforces the near-term overhang from insider distribution.

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.