Joseph Walter Vazzano Sells 24,880 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CFO Joseph Walter Vazzano sold 24,880 shares of the company’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $6.96, for a total transaction of $173,164.80. Following the transaction, the chief financial officer owned 493,557 shares of the company’s stock, valued at $3,435,156.72. This represents a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 Tuesday, June 9th, Joseph Walter Vazzano sold 39,067 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.36, for a total transaction of $209,399.12.
• 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 value of $55,771.53.

Abeona Therapeutics Stock Up 4.7%

ABEO traded up $0.32 on Thursday, hitting $7.12. 2,608,182 shares of the company were exchanged, compared to its average volume of 1,352,993. The company has a current ratio of 5.89, a quick ratio of 5.70 and a debt-to-equity ratio of 0.03. Abeona Therapeutics Inc. has a twelve month low of $4.00 and a twelve month high of $7.54. The company has a market cap of $405.77 million, a price-to-earnings ratio of 7.34 and a beta of 1.34. The firm has a 50-day moving average price of $5.75 and a two-hundred day moving average price of $5.31.

Abeona Therapeutics (NASDAQ:ABEO) last released 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. On average, equities analysts predict that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ABEO. AIGH Capital Management LLC raised its stake in Abeona Therapeutics by 55.0% during the 1st quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company’s stock worth $13,888,000 after buying an additional 1,100,000 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in Abeona Therapeutics by 14.2% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,072,985 shares of the biopharmaceutical company’s stock valued at $17,455,000 after acquiring an additional 381,357 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Abeona Therapeutics by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,602,901 shares of the biopharmaceutical company’s stock valued at $13,743,000 after purchasing an additional 95,878 shares in the last quarter. Geode Capital Management LLC boosted its position in Abeona Therapeutics by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,137,127 shares of the biopharmaceutical company’s stock valued at $5,994,000 after buying an additional 9,996 shares in the last quarter. Finally, Kennedy Capital Management LLC increased its position in Abeona Therapeutics by 56.4% in 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 acquiring an additional 378,860 shares during the period. 80.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on ABEO shares. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a research report on Thursday, May 28th. Stifel Nicolaus set a $17.00 target price on Abeona Therapeutics in a research note on Tuesday, March 17th. Wall Street Zen upgraded shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Monday, June 1st. Finally, Weiss Ratings upgraded shares of Abeona Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.00.

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.