Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) CEO Sells $372,204.56 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CEO Vishwas Seshadri sold 69,832 shares of the stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $5.33, for a total value of $372,204.56. Following the completion of the transaction, the chief executive officer directly owned 1,460,408 shares in the company, valued at approximately $7,783,974.64. This trade represents a 4.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Vishwas Seshadri also recently made the following trade(s):

• On Monday, December 29th, Vishwas Seshadri sold 25,000 shares of Abeona Therapeutics stock. The stock was sold at an average price of $5.31, for a total value of $132,750.00.

Abeona Therapeutics Trading Down 3.7%

NASDAQ:ABEO opened at $5.16 on Friday. The company has a current ratio of 9.74, a quick ratio of 9.53 and a debt-to-equity ratio of 0.06. Abeona Therapeutics Inc. has a 1-year low of $3.93 and a 1-year high of $7.54. The firm has a market capitalization of $279.62 million, a price-to-earnings ratio of 4.20 and a beta of 1.12. The business’s 50-day moving average price is $5.08 and its two-hundred day moving average price is $5.63.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.17. On average, equities analysts expect that Abeona Therapeutics Inc. will post -1.16 earnings per share for the current year.

Hedge Funds Weigh In On Abeona Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABEO. Boone Capital Management LLC acquired a new stake in shares of Abeona Therapeutics in the 2nd quarter valued at about $7,126,000. Geode Capital Management LLC raised its position in Abeona Therapeutics by 129.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock valued at $6,282,000 after buying an additional 623,243 shares during the last quarter. Aberdeen Group plc acquired a new stake in Abeona Therapeutics in the 4th quarter valued at approximately $3,248,000. Cable Car Capital LP bought a new stake in Abeona Therapeutics in the 3rd quarter valued at approximately $3,168,000. Finally, JPMorgan Chase & Co. boosted its position in Abeona Therapeutics by 255.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 831,132 shares of the biopharmaceutical company’s stock worth $4,721,000 after acquiring an additional 597,373 shares during the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wall Street Zen cut shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Abeona Therapeutics in a report on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Abeona Therapeutics in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Abeona Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $20.00.

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.