Madhav Vasanthavada Sells 5,450 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) insider Madhav Vasanthavada sold 5,450 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $5.30, for a total value of $28,885.00. Following the completion of the transaction, the insider owned 303,451 shares of the company’s stock, valued at $1,608,290.30. The trade was a 1.76% decrease in their position. The sale was disclosed in a filing 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.

Madhav Vasanthavada also recently made the following trade(s):

• On Monday, June 8th, Madhav Vasanthavada sold 4,170 shares of Abeona Therapeutics stock. The stock was sold at an average price of $5.43, for a total value of $22,643.10.
• On Monday, May 11th, Madhav Vasanthavada sold 5,548 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.96, for a total value of $33,066.08.

Abeona Therapeutics Stock Up 1.3%

ABEO stock traded up $0.07 during mid-day trading on Tuesday, reaching $5.45. The company 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 stock has a 50 day simple moving average of $5.37 and a two-hundred day simple moving average of $5.16. The company has a market capitalization of $310.60 million, a price-to-earnings ratio of 5.62 and a beta of 1.35. Abeona Therapeutics Inc. has a 52 week low of $4.00 and a 52 week high of $7.54.

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Abeona Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in shares of Abeona Therapeutics by 49.6% in the first 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. Rangeley Capital LLC boosted its holdings in shares of Abeona Therapeutics by 4.2% during the 1st quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company’s stock worth $269,000 after buying an additional 2,400 shares during the period. Renaissance Technologies LLC grew 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 valued at $722,000 after buying an additional 44,882 shares during the last quarter. Sei Investments Co. grew 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 valued at $773,000 after buying an additional 101,307 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in Abeona Therapeutics in the 1st quarter valued at about $154,000. 80.56% of the stock is owned by institutional investors.

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.