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

Abeona Therapeutics Inc. (NASDAQ:ABEO) CEO Vishwas Seshadri sold 31,916 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $5.30, for a total value of $169,154.80. Following the completion of the transaction, the chief executive officer directly owned 1,374,079 shares in the company, valued at $7,282,618.70. The trade was a 2.27% decrease in their ownership of the stock. The sale was disclosed in a legal 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 transaction of $132,644.04.

Abeona Therapeutics Stock Performance

Shares of NASDAQ:ABEO traded up $0.07 during trading on Tuesday, hitting $5.45. The company’s stock had a trading volume of 1,159,558 shares, compared to its average volume of 981,006. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.89 and a quick ratio of 5.70. The firm has a market cap of $310.60 million, a price-to-earnings ratio of 5.62 and a beta of 1.35. The company has a 50-day moving average of $5.37 and a 200-day moving average of $5.16. Abeona Therapeutics Inc. has a 12 month low of $4.00 and a 12 month high of $7.54.

Abeona Therapeutics (NASDAQ:ABEO) last announced its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share (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 the consensus estimate of $4.57 million. On average, sell-side analysts expect that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current year.

Institutional Trading of Abeona Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. Aberdeen Group plc bought a new position in shares of Abeona Therapeutics in the fourth quarter worth about $3,248,000. AIGH Capital Management LLC purchased a new position in Abeona Therapeutics in the 4th quarter worth approximately $10,540,000. Nan Fung Trinity HK Ltd. lifted its holdings in Abeona Therapeutics by 70.6% in the 4th quarter. Nan Fung Trinity HK Ltd. now owns 956,770 shares of the biopharmaceutical company’s stock worth $5,042,000 after purchasing an additional 396,000 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Abeona Therapeutics by 38.6% in the 1st quarter. Renaissance Technologies LLC now owns 161,082 shares of the biopharmaceutical company’s stock worth $722,000 after purchasing an additional 44,882 shares during the period. Finally, Sei Investments Co. boosted its stake in Abeona Therapeutics by 142.4% in the 1st quarter. Sei Investments Co. now owns 172,460 shares of the biopharmaceutical company’s stock worth $773,000 after purchasing an additional 101,307 shares during the period. 80.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

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.