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

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

Abeona Therapeutics Stock Performance

Abeona Therapeutics stock opened at $5.86 on Tuesday. The firm has a 50 day simple moving average of $5.04 and a 200-day simple moving average of $5.04. Abeona Therapeutics Inc. has a 1-year low of $4.00 and a 1-year high of $7.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.93 and a quick ratio of 6.74. The stock has a market cap of $333.32 million, a price-to-earnings ratio of 5.69 and a beta of 1.35.

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings results on Tuesday, March 17th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.01. The firm had revenue of $3.00 million during the quarter, compared to analysts’ expectations of $5.65 million. On average, analysts expect that Abeona Therapeutics Inc. will post -0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

ABEO has been the subject of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Abeona Therapeutics in a research note on Thursday, March 19th. Stifel Nicolaus set a $17.00 price target on shares of Abeona Therapeutics in a research note on Tuesday, March 17th. Weiss Ratings restated a “sell (d+)” rating on shares of Abeona Therapeutics in a report on Wednesday, January 21st. Finally, Oppenheimer restated an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Abeona Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Hedge Funds Weigh In On Abeona Therapeutics

Several large investors have recently made changes to their positions in ABEO. AIGH Capital Management LLC acquired a new position in shares of Abeona Therapeutics in the 4th quarter worth approximately $10,540,000. Tang Capital Management LLC acquired a new stake in Abeona Therapeutics during the 4th quarter worth approximately $5,270,000. Geode Capital Management LLC lifted its holdings in Abeona Therapeutics by 129.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock worth $6,282,000 after buying an additional 623,243 shares in the last quarter. Aberdeen Group plc acquired a new stake in Abeona Therapeutics during the 4th quarter worth approximately $3,248,000. Finally, Cable Car Capital LP acquired a new stake in Abeona Therapeutics during the 3rd quarter worth approximately $3,168,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

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.