Vishwas Seshadri Sells 31,916 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CEO Vishwas Seshadri sold 31,916 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $5.30, for a total value of $169,154.80. Following the sale, the chief executive officer directly owned 1,374,079 shares in the company, valued at $7,282,618.70. This trade represents a 2.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 Monday, June 8th, Vishwas Seshadri sold 24,428 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.43, for a total value of $132,644.04.

Abeona Therapeutics Stock Down 1.7%

Shares of NASDAQ ABEO opened at $5.36 on Thursday. The company has a current ratio of 5.89, a quick ratio of 5.70 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $305.49 million, a PE ratio of 5.53 and a beta of 1.35. The stock’s fifty day simple moving average is $5.40 and its two-hundred day simple moving average is $5.17. Abeona Therapeutics Inc. has a 12-month low of $4.00 and a 12-month high of $7.54.

Abeona Therapeutics (NASDAQ:ABEO) last issued 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, analysts expect that Abeona Therapeutics Inc. will post -0.79 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on ABEO. Wall Street Zen upgraded Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Monday, June 1st. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Abeona Therapeutics in a report on Thursday, May 28th. Oppenheimer reiterated an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Finally, Stifel Nicolaus set a $17.00 price objective on Abeona Therapeutics in a report on Tuesday, March 17th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.00.

More Abeona Therapeutics News

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.

Hedge Funds Weigh In On Abeona Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in Abeona Therapeutics by 49.6% in 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 last quarter. Legato Capital Management LLC raised its stake in Abeona Therapeutics by 21.0% in the 4th quarter. Legato Capital Management LLC now owns 13,180 shares of the biopharmaceutical company’s stock worth $69,000 after acquiring an additional 2,290 shares during the last quarter. Deutsche Bank AG raised its stake in Abeona Therapeutics by 6.2% in the 4th quarter. Deutsche Bank AG now owns 39,368 shares of the biopharmaceutical company’s stock worth $207,000 after acquiring an additional 2,303 shares during the last quarter. Rangeley Capital LLC raised its stake in Abeona Therapeutics by 4.2% in the 1st quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company’s stock worth $269,000 after acquiring an additional 2,400 shares during the last quarter. Finally, LPL Financial LLC raised its stake in Abeona Therapeutics by 5.3% in the 4th quarter. LPL Financial LLC now owns 62,873 shares of the biopharmaceutical company’s stock worth $331,000 after acquiring an additional 3,165 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

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.