Abeona Therapeutics (NASDAQ:ABEO) Stock: Insider Vishwas Seshadri Sells 19,608 Shares

Abeona Therapeutics Inc. (NASDAQ:ABEO) CEO Vishwas Seshadri sold 19,608 shares of the stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $5.16, for a total transaction of $101,177.28. Following the completion of the transaction, the chief executive officer directly owned 1,286,500 shares of the company’s stock, valued at $6,638,340. This trade represents a 1.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Thursday, July 9th, Vishwas Seshadri sold 67,971 shares of Abeona Therapeutics stock. The stock was sold at an average price of $6.96, for a total transaction of $473,078.16.

Abeona Therapeutics Stock Down 4.6%

NASDAQ ABEO opened at $5.01 on Friday. Abeona Therapeutics Inc. has a 1-year low of $4.00 and a 1-year high of $7.65. The company has a market capitalization of $286.47 million, a price-to-earnings ratio of -4.60 and a beta of 1.31. The stock’s 50 day moving average is $6.02 and its two-hundred day moving average is $5.73. The company has a current ratio of 6.63, a quick ratio of 6.40 and a debt-to-equity ratio of 0.01.

Abeona Therapeutics (NASDAQ:ABEO) last issued its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The firm had revenue of $11.38 million during the quarter, compared to analyst estimates of $12.24 million. Equities analysts forecast that Abeona Therapeutics Inc. will post -0.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ABEO has been the subject of several recent analyst reports. Roth Capital initiated coverage on shares of Abeona Therapeutics in a report on Thursday, September 17th. They set a “buy” rating and a $17.00 price objective for the company. Wall Street Zen upgraded Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. HC Wainwright restated a “buy” rating on shares of Abeona Therapeutics in a research report on Friday, September 25th. Oppenheimer reaffirmed an “outperform” rating and issued a $21.00 price target (down from $22.00) on shares of Abeona Therapeutics in a report on Friday, August 14th. Finally, Cantor Fitzgerald upped their price target on shares of Abeona Therapeutics from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, September 18th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.00.

Institutional Investors Weigh In On Abeona Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AIGH Capital Management LLC increased its stake in shares of Abeona Therapeutics by 55.0% in the 1st quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company’s stock valued at $13,888,000 after acquiring an additional 1,100,000 shares during the last quarter. AWM Investment Company Inc. acquired a new position in Abeona Therapeutics during the second quarter valued at approximately $9,184,000. Simplify Asset Management Inc. grew its holdings in Abeona Therapeutics by 1.5% during the first quarter. Simplify Asset Management Inc. now owns 507,988 shares of the biopharmaceutical company’s stock valued at $2,276,000 after purchasing an additional 7,646 shares during the period. Bank of New York Mellon Corp bought a new stake in Abeona Therapeutics in the second quarter valued at approximately $1,262,000. Finally, Headlands Technologies LLC raised its holdings in Abeona Therapeutics by 97.5% in the second quarter. Headlands Technologies LLC now owns 125,090 shares of the biopharmaceutical company’s stock worth $773,000 after purchasing an additional 61,745 shares during the period. Institutional investors own 80.56% of the company’s stock.

About Abeona Therapeutics

Abeona Therapeutics Inc is a biopharmaceutical company focused on developing and commercializing cell and gene therapies for patients with serious and life-threatening genetic diseases. The company’s programs are designed to address conditions for which existing treatment options are limited or inadequate.

Abeona’s lead product, ZEVASKYN (prademagene zamikeracel, formerly EB-101), is an autologous gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa, a rare inherited disorder that causes fragile skin and chronic wounds.