Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) CEO Sells 19,274 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CEO Vishwas Seshadri sold 19,274 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $5.39, for a total transaction of $103,886.86. Following the completion of the transaction, the chief executive officer owned 1,215,067 shares of the company’s stock, valued at $6,549,211.13. This trade represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Vishwas Seshadri also recently made the following trade(s):

• On Tuesday, September 30th, Vishwas Seshadri sold 25,000 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.24, for a total transaction of $131,000.00.
• On Wednesday, July 9th, Vishwas Seshadri sold 69,420 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.86, for a total transaction of $406,801.20.

Abeona Therapeutics Stock Performance

Shares of ABEO opened at $5.28 on Thursday. The company has a 50-day simple moving average of $6.41 and a two-hundred day simple moving average of $5.92. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.73 and a quick ratio of 6.65. The firm has a market capitalization of $270.76 million, a PE ratio of 7.54 and a beta of 1.43. Abeona Therapeutics Inc. has a one year low of $3.93 and a one year high of $7.54.

Abeona Therapeutics (NASDAQ:ABEO) last posted its earnings results on Thursday, August 14th. The biopharmaceutical company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $2.10. The firm had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $21.71 million. On average, analysts anticipate that Abeona Therapeutics Inc. will post -1.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ABEO. Oppenheimer boosted their target price on shares of Abeona Therapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, August 15th. HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Abeona Therapeutics in a research note on Monday, August 18th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $19.50.

Hedge Funds Weigh In On Abeona Therapeutics

Hedge funds have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. grew its position in Abeona Therapeutics by 14.2% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,072,985 shares of the biopharmaceutical company’s stock valued at $17,455,000 after purchasing an additional 381,357 shares during the last quarter. Boone Capital Management LLC purchased a new stake in shares of Abeona Therapeutics during the second quarter valued at approximately $7,126,000. Geode Capital Management LLC increased its position in shares of Abeona Therapeutics by 129.1% during the second quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock valued at $6,282,000 after acquiring an additional 623,243 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Abeona Therapeutics by 255.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 831,132 shares of the biopharmaceutical company’s stock worth $4,721,000 after acquiring an additional 597,373 shares during the last quarter. Finally, 683 Capital Management LLC raised its holdings in Abeona Therapeutics by 11.1% in the 2nd quarter. 683 Capital Management LLC now owns 750,000 shares of the biopharmaceutical company’s stock worth $4,260,000 after acquiring an additional 75,000 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

About Abeona Therapeutics

Abeona Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and delivering gene therapy products for severe and life-threatening rare diseases. The company's lead programs are EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB); ABO-102, which are AAV based gene therapies for Sanfilippo syndrome type A; and ABO-101, an adeno-associated virus (AAV) based gene therapies for Sanfilippo syndrome type B.