Abeona Therapeutics (NASDAQ:ABEO) Insider Madhav Vasanthavada Sells 4,170 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) insider Madhav Vasanthavada sold 4,170 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $5.43, for a total transaction of $22,643.10. Following the transaction, the insider owned 308,901 shares in the company, valued at approximately $1,677,332.43. This trade represents a 1.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Tuesday, June 9th, Madhav Vasanthavada sold 5,450 shares of Abeona Therapeutics stock. The stock was sold at an average price of $5.30, for a total transaction of $28,885.00.
• 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 transaction of $33,066.08.

Abeona Therapeutics Stock Performance

Shares of NASDAQ ABEO traded up $0.07 during midday trading on Tuesday, reaching $5.45. The company had a trading volume of 1,159,558 shares, compared to its average volume of 981,006. The stock has a market cap of $310.60 million, a P/E ratio of 5.62 and a beta of 1.35. 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 1 year low of $4.00 and a 1 year high of $7.54. The business’s 50-day simple moving average is $5.37 and its 200 day simple moving average is $5.16.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) EPS 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. On average, analysts forecast that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ABEO. Legal & General Group Plc purchased a new stake in Abeona Therapeutics in the 2nd quarter valued at $27,000. Royal Bank of Canada raised its holdings in shares of Abeona Therapeutics by 49.6% during the 1st 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. Russell Investments Group Ltd. acquired a new position in shares of Abeona Therapeutics during the 3rd quarter valued at about $37,000. Truvestments Capital LLC raised its stake in Abeona Therapeutics by 191.4% during the fourth quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 6,770 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Abeona Therapeutics in the 4th quarter valued at about $57,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

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.