Abeona Therapeutics (NASDAQ:ABEO) CEO Vishwas Seshadri Sells 67,971 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CEO Vishwas Seshadri sold 67,971 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $6.96, for a total value of $473,078.16. Following the completion of the sale, the chief executive officer directly owned 1,306,108 shares of the company’s stock, valued at $9,090,511.68. The trade was a 4.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $5.30, for a total value of $169,154.80.
• On Monday, June 8th, Vishwas Seshadri sold 24,428 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.43, for a total value of $132,644.04.

Abeona Therapeutics Trading Up 4.7%

NASDAQ ABEO opened at $7.12 on Friday. The company has a market cap of $405.77 million, a price-to-earnings ratio of 7.34 and a beta of 1.34. Abeona Therapeutics Inc. has a 52 week low of $4.00 and a 52 week high of $7.54. The business has a 50 day moving average price of $5.75 and a 200-day moving average price of $5.31. 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 (NASDAQ:ABEO) last issued its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. The firm had revenue of $8.72 million for the quarter, compared to analyst estimates of $4.57 million. As a group, equities analysts expect that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Abeona Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of ABEO. Royal Bank of Canada lifted its holdings 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 acquiring an additional 2,155 shares during the period. Legato Capital Management LLC grew its stake in Abeona Therapeutics by 21.0% in the 4th quarter. Legato Capital Management LLC now owns 13,180 shares of the biopharmaceutical company’s stock valued at $69,000 after purchasing an additional 2,290 shares during the period. Deutsche Bank AG increased its position in shares of Abeona Therapeutics by 6.2% during the 4th quarter. Deutsche Bank AG now owns 39,368 shares of the biopharmaceutical company’s stock valued at $207,000 after purchasing an additional 2,303 shares during the last quarter. 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 buying an additional 2,400 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Abeona Therapeutics by 5.3% in the 4th quarter. LPL Financial LLC now owns 62,873 shares of the biopharmaceutical company’s stock worth $331,000 after buying an additional 3,165 shares during the last quarter. 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.