Vishwas Seshadri Sells 24,428 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CEO Vishwas Seshadri sold 24,428 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $5.43, for a total value of $132,644.04. Following the completion of the sale, the chief executive officer owned 1,405,995 shares in the company, valued at approximately $7,634,552.85. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 Tuesday, June 9th, Vishwas Seshadri sold 31,916 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.30, for a total value of $169,154.80.

Abeona Therapeutics Stock Performance

Shares of ABEO opened at $5.36 on Thursday. The firm has a market cap of $305.49 million, a PE ratio of 5.53 and a beta of 1.35. The stock’s fifty day moving average price is $5.40 and its two-hundred day moving average price is $5.17. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.89 and a quick ratio of 5.70. Abeona Therapeutics Inc. has a 1 year low of $4.00 and a 1 year high of $7.54.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) 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, equities research analysts forecast that Abeona Therapeutics Inc. will post -0.79 EPS for the current year.

Hedge Funds Weigh In On Abeona Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Aberdeen Group plc bought a new position in Abeona Therapeutics in the 4th quarter worth about $3,248,000. AIGH Capital Management LLC purchased a new position in shares of Abeona Therapeutics in the 4th quarter worth about $10,540,000. Nan Fung Trinity HK Ltd. boosted its holdings in shares of Abeona Therapeutics by 70.6% in the 4th quarter. Nan Fung Trinity HK Ltd. now owns 956,770 shares of the biopharmaceutical company’s stock worth $5,042,000 after purchasing an additional 396,000 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Abeona Therapeutics by 38.6% in the 1st quarter. Renaissance Technologies LLC now owns 161,082 shares of the biopharmaceutical company’s stock worth $722,000 after purchasing an additional 44,882 shares in the last quarter. Finally, Rangeley Capital LLC boosted its holdings in shares of Abeona Therapeutics by 4.2% in the 1st quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company’s stock worth $269,000 after purchasing an additional 2,400 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

Abeona Therapeutics News Roundup

Here are the key news stories impacting Abeona Therapeutics this week:

• Positive Sentiment: Abeona’s last quarterly report beat expectations, with EPS of -$0.30 versus -$0.33 expected and revenue of $8.72 million versus $4.57 million forecast, supporting the longer-term bullish thesis.
• Positive Sentiment: Analysts remain generally constructive, with an average rating of Hold and an average price target of $19.00, well above the current share price.
• Neutral Sentiment: The company updated its investor presentation under Regulation FD, which appears to be a routine communications update rather than a major business catalyst. Article: Abeona Therapeutics Updates Investor Presentation Under Regulation FD
• Neutral Sentiment: Abeona continues to show strong liquidity and low leverage, which gives it financial flexibility while it advances its gene- and cell-therapy pipeline.
• Negative Sentiment: CEO Vishwas Seshadri sold shares in multiple transactions, and CFO Joseph Walter Vazzano also sold shares, adding to investor concern about insider confidence, even though the company said the sales were tied to tax withholding and equity vesting.
• Negative Sentiment: Additional selling from insiders Madhav Vasanthavada and Brendan M. O’Malley reinforces the near-term overhang from insider distribution.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ABEO shares. Wall Street Zen upgraded Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Monday, June 1st. Oppenheimer reiterated an “outperform” rating on shares of Abeona Therapeutics in a research note on Monday, March 9th. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Finally, Stifel Nicolaus set a $17.00 price objective on Abeona Therapeutics in a research note 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.00.

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.