Abeona Therapeutics (NASDAQ:ABEO) CEO Sells $132,644.04 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CEO Vishwas Seshadri sold 24,428 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $5.43, for a total value of $132,644.04. Following the transaction, the chief executive officer owned 1,405,995 shares of the company’s stock, valued at $7,634,552.85. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 Tuesday, June 9th, Vishwas Seshadri sold 31,916 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.30, for a total value of $169,154.80.

Abeona Therapeutics Stock Performance

Shares of Abeona Therapeutics stock opened at $5.53 on Friday. The business has a 50-day moving average of $5.42 and a 200 day moving average of $5.17. Abeona Therapeutics Inc. has a 12 month low of $4.00 and a 12 month high of $7.54. The stock has a market capitalization of $315.15 million, a price-to-earnings ratio of 5.70 and a beta of 1.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.89 and a quick ratio of 5.70.

Abeona Therapeutics (NASDAQ:ABEO) last announced its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. The firm had revenue of $8.72 million for the quarter, compared to analysts’ expectations of $4.57 million. As a group, sell-side analysts forecast that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Abeona Therapeutics

A number of hedge funds have recently bought and sold shares of ABEO. Goldman Sachs Group Inc. raised its position in Abeona Therapeutics by 49.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 200,450 shares of the biopharmaceutical company’s stock valued at $954,000 after purchasing an additional 66,422 shares in the last quarter. Geode Capital Management LLC raised its position in Abeona Therapeutics by 129.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock valued at $6,282,000 after purchasing an additional 623,243 shares in the last quarter. Creative Planning raised its position in Abeona Therapeutics by 43.0% in the 2nd quarter. Creative Planning now owns 14,310 shares of the biopharmaceutical company’s stock valued at $81,000 after purchasing an additional 4,305 shares in the last quarter. JPMorgan Chase & Co. raised its position in Abeona Therapeutics by 255.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 831,132 shares of the biopharmaceutical company’s stock valued at $4,721,000 after purchasing an additional 597,373 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in Abeona Therapeutics in the 2nd quarter valued at about $27,000. Institutional investors and hedge funds 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.