Madhav Vasanthavada Sells 12,610 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) insider Madhav Vasanthavada sold 12,610 shares of Abeona Therapeutics stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $5.29, for a total value of $66,706.90. Following the completion of the sale, the insider owned 318,619 shares of the company’s stock, valued at $1,685,494.51. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Abeona Therapeutics Trading Up 0.6%

Shares of ABEO stock traded up $0.03 during trading hours on Monday, hitting $5.19. 1,014,114 shares of the company were exchanged, compared to its average volume of 1,273,595. The firm has a fifty day moving average of $5.08 and a 200 day moving average of $5.63. The company has a quick ratio of 9.53, a current ratio of 9.74 and a debt-to-equity ratio of 0.06. Abeona Therapeutics Inc. has a 1 year low of $3.93 and a 1 year high of $7.54. The firm has a market cap of $281.25 million, a PE ratio of 4.22 and a beta of 1.12.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ABEO. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Abeona Therapeutics in a research report on Wednesday. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Abeona Therapeutics in a research note on Monday, October 13th. Finally, Wall Street Zen downgraded Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Four 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, the company has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Hedge Funds Weigh In On Abeona Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in ABEO. Ameritas Investment Partners Inc. purchased a new stake in Abeona Therapeutics during the 2nd quarter worth $25,000. Legal & General Group Plc purchased a new stake in shares of Abeona Therapeutics in the second quarter worth about $27,000. Russell Investments Group Ltd. purchased a new stake in shares of Abeona Therapeutics in the third quarter worth about $37,000. Legato Capital Management LLC acquired a new stake in shares of Abeona Therapeutics in the third quarter valued at about $57,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Abeona Therapeutics during the 4th quarter valued at about $57,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

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.