Brendan O’malley Sells 4,826 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) SVP Brendan O’malley sold 4,826 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $5.43, for a total value of $26,205.18. Following the sale, the senior vice president owned 446,308 shares of the company’s stock, valued at approximately $2,423,452.44. The trade was a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Abeona Therapeutics Price Performance

Shares of NASDAQ:ABEO opened at $5.36 on Thursday. The business has a 50 day moving average price of $5.40 and a 200 day moving average price of $5.17. Abeona Therapeutics Inc. has a twelve month low of $4.00 and a twelve month high of $7.54. The company has a market cap of $305.49 million, a price-to-earnings ratio of 5.53 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 (NASDAQ:ABEO) last announced its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.03. The business had revenue of $8.72 million for the quarter, compared to the consensus estimate of $4.57 million. Research analysts predict that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current year.

Hedge Funds Weigh In On Abeona Therapeutics

Several large investors have recently added to or reduced their stakes in ABEO. Goldman Sachs Group Inc. raised its holdings in Abeona Therapeutics by 49.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 200,450 shares of the biopharmaceutical company’s stock valued at $954,000 after acquiring an additional 66,422 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Abeona Therapeutics by 129.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock worth $6,282,000 after buying an additional 623,243 shares in the last quarter. Creative Planning raised its holdings in shares of Abeona Therapeutics by 43.0% in the 2nd quarter. Creative Planning now owns 14,310 shares of the biopharmaceutical company’s stock worth $81,000 after buying an additional 4,305 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Abeona Therapeutics by 255.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 831,132 shares of the biopharmaceutical company’s stock worth $4,721,000 after buying an additional 597,373 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of Abeona Therapeutics in the 2nd quarter worth approximately $27,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Trending Headlines about Abeona Therapeutics

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

• Positive Sentiment: Abeona’s last quarterly report beat expectations, with EPS of -$0.30 versus -$0.33 expected and revenue of $8.72 million versus $4.57 million forecast, supporting the longer-term bullish thesis.
• Positive Sentiment: Analysts remain generally constructive, with an average rating of Hold and an average price target of $19.00, well above the current share price.
• Neutral Sentiment: The company updated its investor presentation under Regulation FD, which appears to be a routine communications update rather than a major business catalyst. Article: Abeona Therapeutics Updates Investor Presentation Under Regulation FD
• Neutral Sentiment: Abeona continues to show strong liquidity and low leverage, which gives it financial flexibility while it advances its gene- and cell-therapy pipeline.
• Negative Sentiment: CEO Vishwas Seshadri sold shares in multiple transactions, and CFO Joseph Walter Vazzano also sold shares, adding to investor concern about insider confidence, even though the company said the sales were tied to tax withholding and equity vesting.
• Negative Sentiment: Additional selling from insiders Madhav Vasanthavada and Brendan M. O’Malley reinforces the near-term overhang from insider distribution.

Wall Street Analysts Forecast Growth

ABEO has been the subject of several recent research reports. Stifel Nicolaus set a $17.00 price target on Abeona Therapeutics in a report on Tuesday, March 17th. 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. Wall Street Zen raised Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Monday, June 1st. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Abeona Therapeutics presently has an average rating of “Hold” and a consensus target price of $19.00.

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.