Abeona Therapeutics (NASDAQ:ABEO) Insider Sells $28,885.00 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) insider Madhav Vasanthavada sold 5,450 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $5.30, for a total value of $28,885.00. Following the completion of the sale, the insider directly owned 303,451 shares in the company, valued at approximately $1,608,290.30. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 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 Trading Up 3.2%

NASDAQ ABEO opened at $5.53 on Friday. The company has a current ratio of 5.89, a quick ratio of 5.70 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. The stock has a market cap of $315.15 million, a P/E ratio of 5.70 and a beta of 1.35. The stock’s fifty day moving average price is $5.42 and its 200-day moving average price is $5.17.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings data 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 business had revenue of $8.72 million for the quarter, compared to analysts’ expectations of $4.57 million. As a group, equities analysts forecast that Abeona Therapeutics Inc. will post -0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ABEO. Legal & General Group Plc bought a new position in Abeona Therapeutics in the second quarter valued at about $27,000. Royal Bank of Canada lifted its holdings 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 acquiring an additional 2,155 shares during the period. Russell Investments Group Ltd. bought a new position in Abeona Therapeutics in the third quarter valued at about $37,000. Truvestments Capital LLC lifted its holdings in Abeona Therapeutics by 191.4% in the fourth quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 6,770 shares during the period. Finally, SG Americas Securities LLC bought a new position in Abeona Therapeutics in the fourth quarter valued at about $57,000. Institutional investors own 80.56% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on ABEO shares. Oppenheimer reaffirmed an “outperform” rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective 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 research report on Monday, June 1st. Finally, Stifel Nicolaus set a $17.00 price objective on Abeona Therapeutics in a research report on Tuesday, March 17th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.00.

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.