Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) Insider Sells $33,066.08 in Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) insider Madhav Vasanthavada sold 5,548 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $5.96, for a total transaction of $33,066.08. Following the transaction, the insider owned 313,071 shares in the company, valued at approximately $1,865,903.16. The trade was a 1.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Abeona Therapeutics Price Performance

Shares of ABEO opened at $5.71 on Thursday. The company has a market cap of $324.78 million, a price-to-earnings ratio of 5.54 and a beta of 1.35. Abeona Therapeutics Inc. has a 1-year low of $4.00 and a 1-year high of $7.54. The company’s fifty day simple moving average is $5.07 and its 200 day simple moving average is $5.04. The company has a current ratio of 6.93, a quick ratio of 6.74 and a debt-to-equity ratio of 0.05.

Abeona Therapeutics (NASDAQ:ABEO) last issued its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share 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 analyst estimates of $4.57 million. On average, research analysts forecast that Abeona Therapeutics Inc. will post -0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Oppenheimer restated an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Weiss Ratings restated a “sell (d+)” rating on shares of Abeona Therapeutics in a report on Wednesday, January 21st. HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a report on Thursday, March 19th. Finally, Stifel Nicolaus set a $17.00 target price on shares of Abeona Therapeutics in a report on Tuesday, March 17th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Hedge Funds Weigh In On Abeona Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of ABEO. Goldman Sachs Group Inc. increased its holdings in shares of Abeona Therapeutics by 49.6% in the first quarter. Goldman Sachs Group Inc. now owns 200,450 shares of the biopharmaceutical company’s stock valued at $954,000 after purchasing an additional 66,422 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Abeona Therapeutics by 129.1% in the second quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock valued at $6,282,000 after purchasing an additional 623,243 shares during the last quarter. Creative Planning boosted its position in shares of Abeona Therapeutics by 43.0% in the second quarter. Creative Planning now owns 14,310 shares of the biopharmaceutical company’s stock valued at $81,000 after acquiring an additional 4,305 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Abeona Therapeutics by 255.6% in the second quarter. JPMorgan Chase & Co. now owns 831,132 shares of the biopharmaceutical company’s stock valued at $4,721,000 after acquiring an additional 597,373 shares during the period. Finally, Legal & General Group Plc bought a new stake in shares of Abeona Therapeutics in the second quarter valued at about $27,000. 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.