Abeona Therapeutics (NASDAQ:ABEO) Insider Sells $33,066.08 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) insider Madhav Vasanthavada sold 5,548 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $5.96, for a total value of $33,066.08. Following the transaction, the insider owned 313,071 shares in the company, valued at approximately $1,865,903.16. This represents a 1.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Abeona Therapeutics Stock Down 0.7%

Shares of ABEO traded down $0.04 during midday trading on Monday, reaching $5.86. 1,004,734 shares of the company were exchanged, compared to its average volume of 1,194,979. The stock has a 50-day moving average price of $5.02 and a 200-day moving average price of $5.03. The company has a market cap of $333.33 million, a price-to-earnings ratio of 5.69 and a beta of 1.35. Abeona Therapeutics Inc. has a 1-year low of $4.00 and a 1-year high of $7.54. The company has a current ratio of 6.93, a quick ratio of 6.74 and a debt-to-equity ratio of 0.05.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings data on Tuesday, March 17th. The biopharmaceutical company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The company had revenue of $3.00 million for the quarter, compared to analyst estimates of $5.65 million. Research analysts expect that Abeona Therapeutics Inc. will post -0.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ABEO has been the topic of a number of analyst reports. Oppenheimer reaffirmed an “outperform” rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Abeona Therapeutics in a research report on Wednesday, January 21st. Stifel Nicolaus set a $17.00 target price on Abeona Therapeutics in a research report on Tuesday, March 17th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a research report on Thursday, March 19th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Institutional Trading of Abeona Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc purchased a new stake in shares of Abeona Therapeutics during the second quarter worth about $27,000. Russell Investments Group Ltd. bought a new stake in Abeona Therapeutics in the third quarter valued at about $37,000. Truvestments Capital LLC increased its holdings in Abeona Therapeutics by 191.4% in the fourth quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 6,770 shares during the last quarter. SG Americas Securities LLC bought a new stake in Abeona Therapeutics in the fourth quarter valued at about $57,000. Finally, Legato Capital Management LLC bought a new stake in Abeona Therapeutics in the third quarter valued at about $57,000. 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.