Joseph Walter Vazzano Sells 39,067 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CFO Joseph Walter Vazzano sold 39,067 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $5.36, for a total value of $209,399.12. Following the transaction, the chief financial officer owned 518,437 shares in the company, valued at approximately $2,778,822.32. This trade represents a 7.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 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 value of $55,771.53.

Abeona Therapeutics Stock Performance

NASDAQ ABEO traded up $0.07 on Tuesday, reaching $5.45. The stock had a trading volume of 1,159,558 shares, compared to its average volume of 981,006. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.89 and a quick ratio of 5.70. The firm has a fifty day moving average of $5.37 and a two-hundred day moving average of $5.16. Abeona Therapeutics Inc. has a 1-year low of $4.00 and a 1-year high of $7.54. The company has a market cap of $310.60 million, a P/E ratio of 5.62 and a beta of 1.35.

Abeona Therapeutics (NASDAQ:ABEO) last released 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 business had revenue of $8.72 million during the quarter, compared to analyst estimates of $4.57 million. On average, equities research analysts anticipate that Abeona Therapeutics Inc. will post -0.79 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ABEO shares. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Stifel Nicolaus set a $17.00 price objective on shares of Abeona Therapeutics in a research note on Tuesday, March 17th. Oppenheimer restated an “outperform” rating on shares of Abeona Therapeutics in a research note on Monday, March 9th. Finally, Wall Street Zen raised shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Monday, June 1st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its stake in Abeona Therapeutics by 49.6% during the first quarter. Goldman Sachs Group Inc. now owns 200,450 shares of the biopharmaceutical company’s stock worth $954,000 after purchasing an additional 66,422 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Abeona Therapeutics by 129.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock worth $6,282,000 after buying an additional 623,243 shares in the last quarter. Creative Planning grew its position in shares of Abeona Therapeutics by 43.0% during the 2nd quarter. Creative Planning now owns 14,310 shares of the biopharmaceutical company’s stock worth $81,000 after buying an additional 4,305 shares during the period. JPMorgan Chase & Co. grew its position in shares of 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 buying an additional 597,373 shares during the period. Finally, Legal & General Group Plc bought a new stake in shares of Abeona Therapeutics in the 2nd quarter valued at $27,000. 80.56% of the stock is owned by institutional investors and hedge funds.

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.