Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) CEO Sells 25,000 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CEO Vishwas Seshadri sold 25,000 shares of the firm’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $5.31, for a total value of $132,750.00. Following the completion of the transaction, the chief executive officer directly owned 1,164,818 shares of the company’s stock, valued at $6,185,183.58. The trade was a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, October 16th, Vishwas Seshadri sold 249 shares of Abeona Therapeutics stock. The stock was sold at an average price of $5.49, for a total transaction of $1,367.01.
• On Tuesday, September 30th, Vishwas Seshadri sold 25,000 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.24, for a total transaction of $131,000.00.

Abeona Therapeutics Trading Down 1.5%

Shares of NASDAQ:ABEO traded down $0.08 during trading on Monday, reaching $5.37. 891,136 shares of the company traded hands, compared to its average volume of 1,180,552. The firm has a market capitalization of $291.00 million, a price-to-earnings ratio of 4.37 and a beta of 1.12. Abeona Therapeutics Inc. has a 52-week low of $3.93 and a 52-week high of $7.54. The company has a current ratio of 9.74, a quick ratio of 9.53 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average is $4.93 and its 200-day moving average is $5.72.

Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.17. As a group, analysts forecast that Abeona Therapeutics Inc. will post -1.16 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on ABEO shares. Weiss Ratings downgraded Abeona Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 24th. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Abeona Therapeutics in a research report on Monday, October 13th. Finally, Wall Street Zen cut Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Abeona Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ABEO. Adage Capital Partners GP L.L.C. raised its stake in Abeona Therapeutics by 14.2% in the second 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. grew its holdings in Abeona Therapeutics by 3.8% during the third quarter. Vanguard Group Inc. now owns 2,602,901 shares of the biopharmaceutical company’s stock worth $13,743,000 after acquiring an additional 95,878 shares during the period. Boone Capital Management LLC purchased a new stake in Abeona Therapeutics during the second quarter worth $7,126,000. Geode Capital Management LLC grew its position in shares of 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 valued at $6,282,000 after acquiring an additional 623,243 shares during the period. Finally, Kennedy Capital Management LLC raised its stake in shares of Abeona Therapeutics by 56.4% during 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 period. 80.56% of the stock is currently 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.