Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) Insider Sells $25,294.32 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) insider Madhav Vasanthavada sold 4,902 shares of the business’s stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $5.16, for a total transaction of $25,294.32. Following the transaction, the insider owned 285,721 shares in the company, valued at approximately $1,474,320.36. The trade was a 1.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 Thursday, July 9th, Madhav Vasanthavada sold 12,606 shares of Abeona Therapeutics stock. The shares were sold at an average price of $6.96, for a total value of $87,737.76.

Abeona Therapeutics Trading Down 4.6%

Abeona Therapeutics stock opened at $5.01 on Friday. The business has a 50 day moving average price of $6.02 and a two-hundred day moving average price of $5.73. The company has a quick ratio of 6.40, a current ratio of 6.63 and a debt-to-equity ratio of 0.01. The stock has a market cap of $286.47 million, a price-to-earnings ratio of -4.60 and a beta of 1.31. Abeona Therapeutics Inc. has a 12 month low of $4.00 and a 12 month high of $7.65.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The business had revenue of $11.38 million during the quarter, compared to the consensus estimate of $12.24 million. As a group, equities analysts forecast that Abeona Therapeutics Inc. will post -0.88 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on ABEO. Cantor Fitzgerald raised their price target on shares of Abeona Therapeutics from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, September 18th. HC Wainwright restated a “buy” rating on shares of Abeona Therapeutics in a research report on Friday, September 25th. Weiss Ratings cut Abeona Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 17th. UBS Group reiterated a “buy” rating on shares of Abeona Therapeutics in a research note on Friday, September 25th. Finally, Wall Street Zen raised shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ABEO. AIGH Capital Management LLC lifted its holdings in Abeona Therapeutics by 55.0% during the 1st quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company’s stock worth $13,888,000 after buying an additional 1,100,000 shares in the last quarter. AWM Investment Company Inc. acquired a new stake in shares of Abeona Therapeutics in the 2nd quarter valued at $9,184,000. Simplify Asset Management Inc. increased its stake in shares of Abeona Therapeutics by 1.5% in the 1st 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 during the period. Bank of New York Mellon Corp acquired a new stake in shares of Abeona Therapeutics in the 2nd quarter valued at $1,262,000. Finally, Sei Investments Co. raised 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 acquiring an additional 101,307 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

About Abeona Therapeutics

Abeona Therapeutics Inc is a biopharmaceutical company focused on developing and commercializing cell and gene therapies for patients with serious and life-threatening genetic diseases. The company’s programs are designed to address conditions for which existing treatment options are limited or inadequate.

Abeona’s lead product, ZEVASKYN (prademagene zamikeracel, formerly EB-101), is an autologous gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa, a rare inherited disorder that causes fragile skin and chronic wounds.