Abeona Therapeutics (NASDAQ:ABEO) CEO Vishwas Seshadri Sells 24,428 Shares

Abeona Therapeutics Inc. (NASDAQ:ABEO) CEO Vishwas Seshadri sold 24,428 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $5.43, for a total transaction of $132,644.04. Following the sale, the chief executive officer directly owned 1,405,995 shares in the company, valued at $7,634,552.85. The trade was a 1.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 shares were sold at an average price of $5.30, for a total transaction of $169,154.80.

Abeona Therapeutics Stock Performance

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

Abeona Therapeutics (NASDAQ:ABEO) last announced 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 firm had revenue of $8.72 million for the quarter, compared to analysts’ expectations of $4.57 million. Sell-side analysts expect that Abeona Therapeutics Inc. will post -0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Abeona Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in Abeona Therapeutics by 49.6% during the 1st 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 in the last quarter. Rangeley Capital LLC grew its holdings in Abeona Therapeutics by 4.2% during the 1st quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company’s stock valued at $269,000 after buying an additional 2,400 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Abeona Therapeutics by 38.6% during the 1st quarter. Renaissance Technologies LLC now owns 161,082 shares of the biopharmaceutical company’s stock valued at $722,000 after buying an additional 44,882 shares in the last quarter. Sei Investments Co. grew its holdings in Abeona Therapeutics by 142.4% during the 1st quarter. Sei Investments Co. now owns 172,460 shares of the biopharmaceutical company’s stock valued at $773,000 after buying an additional 101,307 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in Abeona Therapeutics during the 1st quarter valued at approximately $154,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ABEO shares. Wall Street Zen raised shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Monday, June 1st. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Abeona Therapeutics in a report on Thursday, May 28th. Stifel Nicolaus set a $17.00 price target on shares of Abeona Therapeutics in a report on Tuesday, March 17th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.