Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) Insider Sells $87,737.76 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) insider Madhav Vasanthavada sold 12,606 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $6.96, for a total transaction of $87,737.76. Following the transaction, the insider owned 290,623 shares in the company, valued at approximately $2,022,736.08. This trade represents a 4.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Tuesday, June 9th, Madhav Vasanthavada sold 5,450 shares of Abeona Therapeutics stock. The stock was sold at an average price of $5.30, for a total value of $28,885.00.
• On Monday, June 8th, Madhav Vasanthavada sold 4,170 shares of Abeona Therapeutics stock. The shares were 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 stock was sold at an average price of $5.96, for a total value of $33,066.08.

Abeona Therapeutics Stock Performance

Shares of NASDAQ ABEO traded down $0.14 during midday trading on Friday, hitting $6.98. 1,630,056 shares of the company’s stock traded hands, compared to its average volume of 1,427,098. The firm has a fifty day moving average of $5.78 and a 200 day moving average of $5.32. Abeona Therapeutics Inc. has a 1 year low of $4.00 and a 1 year high of $7.54. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.70 and a current ratio of 5.89. The stock has a market capitalization of $397.79 million, a price-to-earnings ratio of 7.20 and a beta of 1.34.

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

Key Stories Impacting Abeona Therapeutics

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

Institutional Investors Weigh In On Abeona Therapeutics

A number of institutional investors have recently bought and sold shares of the business. AIGH Capital Management LLC raised its holdings in Abeona Therapeutics by 55.0% during the first quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company’s stock valued at $13,888,000 after acquiring an additional 1,100,000 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in Abeona Therapeutics by 14.2% during 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 purchasing an additional 381,357 shares during the period. Vanguard Group Inc. lifted its holdings in Abeona Therapeutics by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,602,901 shares of the biopharmaceutical company’s stock worth $13,743,000 after purchasing an additional 95,878 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Abeona Therapeutics by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,137,127 shares of the biopharmaceutical company’s stock worth $5,994,000 after purchasing an additional 9,996 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its stake 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 worth $5,549,000 after purchasing an additional 378,860 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ABEO shares. Stifel Nicolaus set a $17.00 price objective on Abeona Therapeutics in a research note on Tuesday, March 17th. HC Wainwright reissued 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 Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Monday, June 1st. Finally, Weiss Ratings raised Abeona Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.