Abeona Therapeutics (NASDAQ:ABEO) CFO Joseph Walter Vazzano Sells 39,067 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CFO Joseph Walter Vazzano sold 39,067 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $5.36, for a total value of $209,399.12. Following the completion of the transaction, the chief financial officer directly owned 518,437 shares of the company’s stock, valued at approximately $2,778,822.32. This trade represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 Monday, June 8th, Joseph Walter Vazzano sold 10,271 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.43, for a total value of $55,771.53.

Abeona Therapeutics Stock Performance

Abeona Therapeutics stock opened at $5.45 on Wednesday. The firm has a market capitalization of $310.60 million, a P/E ratio of 5.62 and a beta of 1.35. The stock has a fifty 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. The company has a current ratio of 5.89, a quick ratio of 5.70 and a debt-to-equity ratio of 0.03.

Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.03. The business had revenue of $8.72 million during the quarter, compared to analyst estimates of $4.57 million. Equities research analysts anticipate that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current year.

Institutional Investors Weigh In On Abeona Therapeutics

A number of institutional investors have recently added to or reduced their stakes in ABEO. Goldman Sachs Group Inc. grew its position in Abeona Therapeutics by 49.6% during the first quarter. Goldman Sachs Group Inc. now owns 200,450 shares of the biopharmaceutical company’s stock valued at $954,000 after acquiring an additional 66,422 shares during the period. Geode Capital Management LLC grew its position in Abeona Therapeutics by 129.1% during the second quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock valued at $6,282,000 after acquiring an additional 623,243 shares during the period. Creative Planning grew its position in Abeona Therapeutics by 43.0% during the second quarter. Creative Planning now owns 14,310 shares of the biopharmaceutical company’s stock valued at $81,000 after acquiring an additional 4,305 shares during the period. JPMorgan Chase & Co. grew its position in Abeona Therapeutics by 255.6% during the second quarter. JPMorgan Chase & Co. now owns 831,132 shares of the biopharmaceutical company’s stock valued at $4,721,000 after acquiring an additional 597,373 shares during the period. Finally, Legal & General Group Plc purchased a new stake in Abeona Therapeutics during the second quarter valued at about $27,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wall Street Zen upgraded Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Monday, June 1st. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Stifel Nicolaus set a $17.00 target price on Abeona Therapeutics in a research note on Tuesday, March 17th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Abeona Therapeutics in a research note on Monday, March 9th. Two analysts have rated the stock with a Buy rating and one has assigned 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.

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.