Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) CEO Sells $101,177.28 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CEO Vishwas Seshadri sold 19,608 shares of the business’s stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $5.16, for a total value of $101,177.28. Following the completion of the sale, the chief executive officer owned 1,286,500 shares in the company, valued at approximately $6,638,340. This trade represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Vishwas Seshadri also recently made the following trade(s):

• On Thursday, July 9th, Vishwas Seshadri sold 67,971 shares of Abeona Therapeutics stock. The stock was sold at an average price of $6.96, for a total value of $473,078.16.

Abeona Therapeutics Trading Up 0.4%

NASDAQ ABEO opened at $5.03 on Friday. Abeona Therapeutics Inc. has a 52 week low of $4.00 and a 52 week high of $7.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.40 and a current ratio of 6.63. The stock’s 50 day moving average price is $6.00 and its two-hundred day moving average price is $5.72. The stock has a market capitalization of $287.64 million, a price-to-earnings ratio of -4.61 and a beta of 1.31.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The firm had revenue of $11.38 million for the quarter, compared to the consensus estimate of $12.24 million. As a group, analysts anticipate that Abeona Therapeutics Inc. will post -0.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ABEO. HC Wainwright restated a “buy” rating on shares of Abeona Therapeutics in a report on Friday, September 25th. Wall Street Zen upgraded shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. Oppenheimer reaffirmed an “outperform” rating and set a $21.00 price target (down from $22.00) on shares of Abeona Therapeutics in a research report on Friday, August 14th. Roth Capital initiated coverage on shares of Abeona Therapeutics in a research note on Thursday, September 17th. They issued a “buy” rating and a $17.00 price target for the company. Finally, UBS Group reiterated a “buy” rating on shares of Abeona Therapeutics in a research note on Friday, September 25th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. 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 valued at $13,888,000 after purchasing an additional 1,100,000 shares during the last quarter. AWM Investment Company Inc. acquired a new position in shares of Abeona Therapeutics in the second quarter valued at $9,184,000. Simplify Asset Management Inc. increased its holdings in shares of Abeona Therapeutics by 1.5% in the first quarter. Simplify Asset Management Inc. now owns 507,988 shares of the biopharmaceutical company’s stock valued at $2,276,000 after purchasing an additional 7,646 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Abeona Therapeutics in the second quarter valued at about $1,262,000. Finally, Headlands Technologies LLC raised its position in shares of Abeona Therapeutics by 97.5% in the second quarter. Headlands Technologies LLC now owns 125,090 shares of the biopharmaceutical company’s stock valued at $773,000 after purchasing an additional 61,745 shares during the period. 80.56% of the stock is currently owned by institutional investors.

Abeona Therapeutics Company Profile

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.