Abeona Therapeutics (NASDAQ:ABEO) CFO Joseph Walter Vazzano Sells 24,880 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CFO Joseph Walter Vazzano sold 24,880 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $6.96, for a total transaction of $173,164.80. Following the sale, the chief financial officer owned 493,557 shares in the company, valued at $3,435,156.72. The trade was a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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, June 9th, Joseph Walter Vazzano sold 39,067 shares of Abeona Therapeutics stock. The stock was sold at an average price of $5.36, for a total transaction of $209,399.12.
• On Monday, June 8th, Joseph Walter Vazzano sold 10,271 shares of Abeona Therapeutics stock. The stock was sold at an average price of $5.43, for a total transaction of $55,771.53.

Abeona Therapeutics Trading Up 4.7%

NASDAQ ABEO opened at $7.12 on Friday. 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 of $5.75 and a two-hundred day moving average of $5.31. 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 stock has a market capitalization of $405.77 million, a PE ratio of 7.34 and a beta of 1.34.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. The firm had revenue of $8.72 million during the quarter, compared to analyst estimates of $4.57 million. As a group, research analysts expect that Abeona Therapeutics Inc. will post -0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Abeona Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its position in 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 last quarter. Rangeley Capital LLC grew its holdings in shares of Abeona Therapeutics by 4.2% during 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 last quarter. Renaissance Technologies LLC increased its position in shares of Abeona Therapeutics by 38.6% during 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 in the last quarter. Sei Investments Co. increased its position in shares of Abeona Therapeutics by 142.4% during 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 in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Abeona Therapeutics in the 1st quarter valued at about $154,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ABEO shares. Stifel Nicolaus set a $17.00 price target on Abeona Therapeutics in a report on Tuesday, March 17th. Weiss Ratings upgraded Abeona Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 29th. Wall Street Zen raised Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Monday, June 1st. Finally, HC Wainwright restated a “buy” rating and set a $20.00 target price 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 Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” 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.