Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) CEO Sells 24,428 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CEO Vishwas Seshadri sold 24,428 shares of Abeona Therapeutics stock in a transaction dated Monday, June 8th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is available 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 Price Performance

Shares of NASDAQ ABEO traded up $0.07 during midday trading on Tuesday, hitting $5.45. The stock had a trading volume of 1,159,558 shares, compared to its average volume of 981,006. The company has a quick ratio of 5.70, a current ratio of 5.89 and a debt-to-equity ratio of 0.03. The stock has a 50 day simple moving average of $5.37 and a 200-day simple moving average of $5.16. The company has a market capitalization of $310.60 million, a PE ratio of 5.62 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.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.03. The firm had revenue of $8.72 million for the quarter, compared to analysts’ expectations of $4.57 million. On average, sell-side analysts expect that Abeona Therapeutics Inc. will post -0.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ABEO shares. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of Abeona Therapeutics in a research report on Thursday, May 28th. Stifel Nicolaus set a $17.00 price objective on shares of Abeona Therapeutics in a research note on Tuesday, March 17th. Wall Street Zen upgraded shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Monday, June 1st. Finally, Oppenheimer reissued an “outperform” rating on shares of Abeona Therapeutics in a research note on Monday, March 9th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ABEO. Legal & General Group Plc acquired a new position in shares of Abeona Therapeutics during the 2nd quarter valued at about $27,000. Royal Bank of Canada increased its position in Abeona Therapeutics by 49.6% during the first quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 2,155 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Abeona Therapeutics during the third quarter worth about $37,000. Truvestments Capital LLC raised its stake in Abeona Therapeutics by 191.4% during the fourth quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 6,770 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Abeona Therapeutics in the 4th quarter valued at about $57,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

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.