Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) Insider Sells $87,737.76 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) insider Madhav Vasanthavada sold 12,606 shares of the company’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $6.96, for a total value of $87,737.76. Following the sale, the insider owned 290,623 shares of the company’s stock, valued at approximately $2,022,736.08. This represents a 4.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Madhav Vasanthavada also recently made the following trade(s):

• On Tuesday, June 9th, Madhav Vasanthavada sold 5,450 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.30, for a total value of $28,885.00.
• On Monday, June 8th, Madhav Vasanthavada sold 4,170 shares of Abeona Therapeutics stock. The stock was sold at an average price of $5.43, for a total value of $22,643.10.
• On Monday, May 11th, Madhav Vasanthavada sold 5,548 shares of Abeona Therapeutics stock. The stock was sold at an average price of $5.96, for a total value of $33,066.08.

Abeona Therapeutics Stock Up 4.7%

ABEO stock traded up $0.32 during trading on Thursday, reaching $7.12. 2,608,182 shares of the company traded hands, compared to its average volume of 1,352,993. The business has a 50 day simple moving average of $5.75 and a 200 day simple moving average of $5.31. Abeona Therapeutics Inc. has a 12 month low of $4.00 and a 12 month high of $7.54. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.70 and a current ratio of 5.89. The company has a market capitalization of $405.77 million, a price-to-earnings ratio of 7.34 and a beta of 1.34.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wall Street Zen raised shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Monday, June 1st. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Abeona Therapeutics in a report on Thursday, May 28th. Weiss Ratings raised Abeona Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Finally, Stifel Nicolaus set a $17.00 price objective on Abeona Therapeutics in a report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Abeona Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Institutional Trading of Abeona Therapeutics

Large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc purchased a new position in shares of Abeona Therapeutics in the second quarter worth about $27,000. Royal Bank of Canada boosted its position in Abeona Therapeutics by 49.6% in the first quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 2,155 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Abeona Therapeutics in the 3rd quarter worth approximately $37,000. Truvestments Capital LLC raised its position in Abeona Therapeutics by 191.4% during the 4th quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 6,770 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Abeona Therapeutics during the 4th quarter worth approximately $57,000. Hedge funds and other institutional investors 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.