Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) SVP Sells $83,868.00 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) SVP Brendan O’malley sold 12,050 shares of the firm’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 $83,868.00. Following the completion of the sale, the senior vice president owned 427,953 shares in the company, valued at approximately $2,978,552.88. The trade was a 2.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Abeona Therapeutics Stock Performance

Abeona Therapeutics stock traded down $0.14 during mid-day trading on Friday, reaching $6.98. The company 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 firm has a market cap of $397.79 million, a price-to-earnings ratio of 7.20 and a beta of 1.34. The company has a 50 day moving average of $5.78 and a 200-day moving average of $5.32. Abeona Therapeutics Inc. has a 52 week low of $4.00 and a 52 week high of $7.54.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc bought a new position in shares of Abeona Therapeutics during the second quarter valued at $27,000. Royal Bank of Canada grew its holdings in shares of Abeona Therapeutics by 49.6% in the 1st quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 2,155 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Abeona Therapeutics during the 3rd quarter worth about $37,000. Truvestments Capital LLC increased its position in shares of Abeona Therapeutics by 191.4% during the 4th quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 6,770 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Abeona Therapeutics during the 4th quarter valued at about $57,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Abeona Therapeutics News Summary

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.