Abeona Therapeutics (NASDAQ:ABEO) CFO Sells $173,164.80 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CFO Joseph Walter Vazzano sold 24,880 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $6.96, for a total transaction of $173,164.80. Following the completion of the sale, the chief financial officer directly owned 493,557 shares of the company’s stock, valued at $3,435,156.72. This represents a 4.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $5.36, for a total value of $209,399.12.
• On Monday, June 8th, Joseph Walter Vazzano sold 10,271 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.43, for a total transaction of $55,771.53.

Abeona Therapeutics Price Performance

NASDAQ ABEO traded down $0.14 on Friday, hitting $6.98. 1,630,056 shares of the company’s stock were exchanged, compared to its average volume of 1,427,098. The stock has a 50-day moving average of $5.78 and a 200-day moving average of $5.32. The stock has a market cap of $397.79 million, a price-to-earnings ratio of 7.20 and a beta of 1.34. Abeona Therapeutics Inc. has a 52 week low of $4.00 and a 52 week high of $7.54. 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 (NASDAQ:ABEO) last posted its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. The company had revenue of $8.72 million during the quarter, compared to analyst estimates of $4.57 million. Analysts expect that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current year.

Analyst Ratings Changes

ABEO has been the topic of a number of recent analyst reports. 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. Stifel Nicolaus set a $17.00 target price on shares of Abeona Therapeutics in a research note on Tuesday, March 17th. Wall Street Zen raised shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Monday, June 1st. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Abeona Therapeutics in a report on Thursday, May 28th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Abeona Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $19.00.

Key Abeona Therapeutics News

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 Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Legal & General Group Plc bought a new position in Abeona Therapeutics during the 2nd quarter valued at $27,000. Royal Bank of Canada lifted its position in shares of Abeona Therapeutics by 49.6% during the first quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 2,155 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Abeona Therapeutics in the 3rd quarter valued at about $37,000. Truvestments Capital LLC lifted 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 buying an additional 6,770 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Abeona Therapeutics in the 4th quarter worth approximately $57,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

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.