Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) CFO Sells $209,399.12 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CFO Joseph Walter Vazzano sold 39,067 shares of Abeona Therapeutics stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $5.36, for a total transaction of $209,399.12. Following the completion of the transaction, the chief financial officer owned 518,437 shares of the company’s stock, valued at $2,778,822.32. This trade represents a 7.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Joseph Walter Vazzano also recently made the following trade(s):

• On Monday, June 8th, Joseph Walter Vazzano sold 10,271 shares of Abeona Therapeutics stock. The stock was sold at an average price of $5.43, for a total transaction of $55,771.53.

Abeona Therapeutics Trading Up 3.2%

NASDAQ ABEO opened at $5.53 on Friday. The company has a quick ratio of 5.70, a current ratio of 5.89 and a debt-to-equity ratio of 0.03. Abeona Therapeutics Inc. has a 52 week low of $4.00 and a 52 week high of $7.54. The stock has a market capitalization of $315.15 million, a PE ratio of 5.70 and a beta of 1.35. The firm has a 50 day moving average of $5.42 and a two-hundred day moving average of $5.17.

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.03. The firm had revenue of $8.72 million for the quarter, compared to analyst estimates of $4.57 million. As a group, research analysts expect that Abeona Therapeutics Inc. will post -0.79 EPS for the current fiscal year.

Institutional Trading of Abeona Therapeutics

Institutional investors have recently modified their holdings of the stock. Legal & General Group Plc purchased a new stake in shares of Abeona Therapeutics during the 2nd quarter worth approximately $27,000. Royal Bank of Canada raised its position 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 valued at $29,000 after purchasing an additional 2,155 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Abeona Therapeutics in the 3rd quarter valued at $37,000. Truvestments Capital LLC raised its position in Abeona Therapeutics by 191.4% in the 4th quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 6,770 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Abeona Therapeutics in the 4th quarter valued at $57,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ABEO shares. HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Abeona Therapeutics in a report on Thursday, May 28th. Wall Street Zen upgraded shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Monday, June 1st. 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 target on shares of Abeona Therapeutics in a report on Tuesday, March 17th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.