Vishwas Seshadri Sells 25,000 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CEO Vishwas Seshadri sold 25,000 shares of the firm’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $5.31, for a total transaction of $132,750.00. Following the transaction, the chief executive officer directly owned 1,164,818 shares in the company, valued at $6,185,183.58. This trade represents a 2.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Thursday, October 16th, Vishwas Seshadri sold 249 shares of Abeona Therapeutics stock. The stock was sold at an average price of $5.49, for a total transaction of $1,367.01.
• 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.

Abeona Therapeutics Stock Performance

Shares of NASDAQ:ABEO opened at $5.18 on Wednesday. The company has a market capitalization of $280.71 million, a price-to-earnings ratio of 4.21 and a beta of 1.12. Abeona Therapeutics Inc. has a 52 week low of $3.93 and a 52 week high of $7.54. The company has a quick ratio of 9.53, a current ratio of 9.74 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average of $4.93 and a 200 day moving average of $5.71.

Abeona Therapeutics (NASDAQ:ABEO) last announced its earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.17. On average, sell-side analysts predict that Abeona Therapeutics Inc. will post -1.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ABEO. Wall Street Zen downgraded shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Abeona Therapeutics in a research note on Monday, October 13th. Finally, Weiss Ratings downgraded shares of Abeona Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 24th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Institutional Trading of Abeona Therapeutics

Several large investors have recently bought and sold shares of ABEO. Adage Capital Partners GP L.L.C. raised its holdings in shares of Abeona Therapeutics by 14.2% in the second quarter. Adage Capital Partners GP L.L.C. now owns 3,072,985 shares of the biopharmaceutical company’s stock worth $17,455,000 after buying an additional 381,357 shares during the last quarter. Vanguard Group Inc. raised its stake in Abeona Therapeutics by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,602,901 shares of the biopharmaceutical company’s stock worth $13,743,000 after acquiring an additional 95,878 shares during the last quarter. Boone Capital Management LLC purchased a new position in Abeona Therapeutics in the 2nd quarter worth $7,126,000. Geode Capital Management LLC lifted its position in Abeona Therapeutics by 129.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock worth $6,282,000 after acquiring an additional 623,243 shares during the period. Finally, Kennedy Capital Management LLC grew its stake in Abeona Therapeutics by 56.4% during the 3rd quarter. Kennedy Capital Management LLC now owns 1,050,863 shares of the biopharmaceutical company’s stock valued at $5,549,000 after purchasing an additional 378,860 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.