Abeona Therapeutics (NASDAQ:ABEO) Insider Madhav Vasanthavada Sells 5,450 Shares

Abeona Therapeutics Inc. (NASDAQ:ABEO) insider Madhav Vasanthavada sold 5,450 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $5.30, for a total transaction of $28,885.00. Following the completion of the sale, the insider owned 303,451 shares in the company, valued at $1,608,290.30. This represents a 1.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 Monday, June 8th, Madhav Vasanthavada sold 4,170 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.43, for a total transaction of $22,643.10.
• On Monday, May 11th, Madhav Vasanthavada sold 5,548 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.96, for a total transaction of $33,066.08.

Abeona Therapeutics Stock Up 1.3%

Shares of NASDAQ ABEO opened at $5.45 on Wednesday. The firm’s 50-day simple moving average is $5.37 and its 200 day simple moving average is $5.16. The company has a market cap of $310.60 million, a price-to-earnings ratio of 5.62 and a beta of 1.35. The company has a quick ratio of 5.70, a current ratio of 5.89 and a debt-to-equity ratio of 0.03. Abeona Therapeutics Inc. has a 12-month low of $4.00 and a 12-month high of $7.54.

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

Key Headlines Impacting Abeona Therapeutics

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

• Positive Sentiment: Abeona previously reported quarterly EPS of -$0.30, beating estimates of -$0.33, and revenue of $8.72 million versus expectations of $4.57 million, which supports the bullish case for the stock.
• Positive Sentiment: Wall Street remains constructive overall, with two Buy ratings, an average Hold rating, and an average price target of $19.00, well above the current trading range.
• Neutral Sentiment: The company’s strong liquidity and low leverage, including a current ratio of 5.89 and debt-to-equity ratio of 0.03, provide financial flexibility.
• Negative Sentiment: CEO Vishwas Seshadri sold shares in multiple transactions on June 8 and June 9, reducing his stake, though the company said the sales were for tax withholding related to equity vesting. Article: CEO insider sale
• Negative Sentiment: CFO Joseph Walter Vazzano also sold shares on June 8 and June 9, including a larger Rule 10b5-1 transaction, adding to the insider-selling overhang. Article: CFO insider sale
• Negative Sentiment: SVP Brendan M. O’Malley and insider Madhav Vasanthavada also reported smaller sales, reinforcing a broader pattern of insider distribution that investors may view cautiously.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Abeona Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. AIGH Capital Management LLC increased its stake in shares of Abeona Therapeutics by 55.0% in the 1st quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company’s stock valued at $13,888,000 after acquiring an additional 1,100,000 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Abeona Therapeutics by 14.2% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,072,985 shares of the biopharmaceutical company’s stock valued at $17,455,000 after acquiring an additional 381,357 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Abeona Therapeutics by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,602,901 shares of the biopharmaceutical company’s stock valued at $13,743,000 after acquiring an additional 95,878 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Abeona Therapeutics by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,137,127 shares of the biopharmaceutical company’s stock valued at $5,994,000 after acquiring an additional 9,996 shares during the last quarter. Finally, Kennedy Capital Management LLC increased its stake in shares of Abeona Therapeutics by 56.4% in the 3rd quarter. Kennedy Capital Management LLC now owns 1,050,863 shares of the biopharmaceutical company’s stock valued at $5,549,000 after acquiring an additional 378,860 shares during the last quarter. 80.56% of the stock is owned by 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.