Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) CEO Sells $473,078.16 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CEO Vishwas Seshadri sold 67,971 shares of Abeona Therapeutics stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $6.96, for a total value of $473,078.16. Following the completion of the transaction, the chief executive officer owned 1,306,108 shares in the company, valued at $9,090,511.68. This trade represents a 4.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 stock was sold at an average price of $5.30, for a total value of $169,154.80.
• 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

NASDAQ:ABEO traded down $0.14 during midday trading on Friday, reaching $6.98. The stock had a trading volume of 1,630,056 shares, compared to its average volume of 1,427,098. The company has a quick ratio of 5.70, a current ratio of 5.89 and a debt-to-equity ratio of 0.03. The stock has a market cap of $397.79 million, a P/E ratio of 7.20 and a beta of 1.34. The firm has a fifty day simple moving average of $5.78 and a two-hundred day simple moving average of $5.32. 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 quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping 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. On average, equities analysts expect that Abeona Therapeutics Inc. will post -0.79 EPS for the current year.

Hedge Funds Weigh In On Abeona Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of ABEO. Royal Bank of Canada raised its stake in shares of Abeona Therapeutics by 49.6% during the 1st quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 2,155 shares during the last quarter. Legato Capital Management LLC increased its holdings in Abeona Therapeutics by 21.0% during the 4th quarter. Legato Capital Management LLC now owns 13,180 shares of the biopharmaceutical company’s stock valued at $69,000 after acquiring an additional 2,290 shares in the last quarter. Deutsche Bank AG raised its position in Abeona Therapeutics by 6.2% during the fourth quarter. Deutsche Bank AG now owns 39,368 shares of the biopharmaceutical company’s stock worth $207,000 after acquiring an additional 2,303 shares during the last quarter. Rangeley Capital LLC raised its position in Abeona Therapeutics by 4.2% during the first quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company’s stock worth $269,000 after acquiring an additional 2,400 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in shares of Abeona Therapeutics by 5.3% in the fourth quarter. LPL Financial LLC now owns 62,873 shares of the biopharmaceutical company’s stock valued at $331,000 after purchasing an additional 3,165 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Abeona Therapeutics News Roundup

Here are the key news stories impacting Abeona Therapeutics this week:

• Positive Sentiment: Abeona previously reported quarterly EPS of -$0.30, beating expectations of -$0.33, and revenue of $8.72 million also topped estimates, which supports the stock’s recent strength. Abeona Therapeutics earnings and stock page
• Positive Sentiment: Wall Street remains broadly constructive, with two Buy ratings, one Hold rating, and a consensus Moderate Buy target of $19.00, well above the current share price. Abeona Therapeutics analyst and insider activity page
• Neutral Sentiment: Short-interest data showed 0 shares reported, offering no clear signal for near-term trading pressure or a short-squeeze setup. Abeona Therapeutics stock overview
• Negative Sentiment: CEO Vishwas Seshadri, CFO Joseph Walter Vazzano, SVP Brendan O’Malley, and insider Madhav Vasanthavada all sold shares on July 9, which can weigh on sentiment even though the sales were said to cover tax withholding related to equity vesting. SEC filing for insider sales

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.