Abeona Therapeutics (NASDAQ:ABEO) CEO Sells $169,154.80 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CEO Vishwas Seshadri sold 31,916 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $5.30, for a total transaction of $169,154.80. Following the completion of the sale, the chief executive officer owned 1,374,079 shares in the company, valued at approximately $7,282,618.70. This trade represents a 2.27% decrease in their position. The sale 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.

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

• On Monday, June 8th, Vishwas Seshadri sold 24,428 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.43, for a total transaction of $132,644.04.

Abeona Therapeutics Stock Up 1.3%

Shares of ABEO traded up $0.07 during mid-day trading on Tuesday, reaching $5.45. The company had a trading volume of 1,159,558 shares, compared to its average volume of 981,006. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.70 and a current ratio of 5.89. The company has a market capitalization of $310.60 million, a price-to-earnings ratio of 5.62 and a beta of 1.35. The firm has a 50-day moving average price of $5.37 and a 200 day moving average price of $5.16. Abeona Therapeutics Inc. has a 52 week low of $4.00 and a 52 week high of $7.54.

Abeona Therapeutics (NASDAQ:ABEO) last posted 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 company had revenue of $8.72 million for the quarter, compared to the consensus estimate of $4.57 million. On average, sell-side analysts forecast that Abeona Therapeutics Inc. will post -0.79 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Oppenheimer restated an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Wall Street Zen upgraded Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Monday, June 1st. Finally, Stifel Nicolaus set a $17.00 price target on Abeona Therapeutics in a report on Tuesday, March 17th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Abeona Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $19.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. AIGH Capital Management LLC lifted its position in Abeona Therapeutics by 55.0% during the first 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 period. Adage Capital Partners GP L.L.C. raised its stake in Abeona Therapeutics by 14.2% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,072,985 shares of the biopharmaceutical company’s stock valued at $17,455,000 after buying an additional 381,357 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Abeona Therapeutics by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,602,901 shares of the biopharmaceutical company’s stock valued at $13,743,000 after buying an additional 95,878 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Abeona Therapeutics by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,137,127 shares of the biopharmaceutical company’s stock valued at $5,994,000 after buying an additional 9,996 shares during the period. Finally, Kennedy Capital Management LLC boosted its stake in shares of Abeona Therapeutics by 56.4% in the 3rd quarter. Kennedy Capital Management LLC now owns 1,050,863 shares of the biopharmaceutical company’s stock worth $5,549,000 after buying an additional 378,860 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

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.