Abeona Therapeutics (NASDAQ:ABEO) SVP Brendan O’malley Sells 6,305 Shares

Abeona Therapeutics Inc. (NASDAQ:ABEO) SVP Brendan O’malley sold 6,305 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $5.30, for a total transaction of $33,416.50. Following the completion of the transaction, the senior vice president owned 440,003 shares of the company’s stock, valued at approximately $2,332,015.90. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 NASDAQ ABEO opened at $5.45 on Wednesday. Abeona Therapeutics Inc. has a twelve month low of $4.00 and a twelve month high of $7.54. The firm has a market cap of $310.60 million, a P/E ratio of 5.62 and a beta of 1.35. The company has a 50 day moving average of $5.37 and a 200 day moving average of $5.16. The company has a quick ratio of 5.70, a current ratio of 5.89 and a debt-to-equity ratio of 0.03.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $4.57 million. As a group, research analysts expect that Abeona Therapeutics Inc. will post -0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Abeona Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in 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 period. Rangeley Capital LLC grew its position in Abeona Therapeutics by 4.2% in the 1st quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company’s stock worth $269,000 after purchasing an additional 2,400 shares during the period. Renaissance Technologies LLC grew its position in Abeona Therapeutics by 38.6% in the 1st quarter. Renaissance Technologies LLC now owns 161,082 shares of the biopharmaceutical company’s stock worth $722,000 after purchasing an additional 44,882 shares during the period. Sei Investments Co. grew its position in Abeona Therapeutics by 142.4% in the 1st quarter. Sei Investments Co. now owns 172,460 shares of the biopharmaceutical company’s stock worth $773,000 after purchasing an additional 101,307 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Abeona Therapeutics during the 1st quarter worth $154,000. Institutional investors own 80.56% of the company’s stock.

Key Headlines Impacting Abeona Therapeutics

Here are the key news stories impacting Abeona Therapeutics this week:

• Positive Sentiment: Abeona previously reported quarterly EPS of -$0.30, beating estimates of -$0.33, and revenue of $8.72 million versus expectations of $4.57 million, which supports the bullish case for the stock.
• Positive Sentiment: Wall Street remains constructive overall, with two Buy ratings, an average Hold rating, and an average price target of $19.00, well above the current trading range.
• Neutral Sentiment: The company’s strong liquidity and low leverage, including a current ratio of 5.89 and debt-to-equity ratio of 0.03, provide financial flexibility.
• Negative Sentiment: CEO Vishwas Seshadri sold shares in multiple transactions on June 8 and June 9, reducing his stake, though the company said the sales were for tax withholding related to equity vesting. Article: CEO insider sale
• Negative Sentiment: CFO Joseph Walter Vazzano also sold shares on June 8 and June 9, including a larger Rule 10b5-1 transaction, adding to the insider-selling overhang. Article: CFO insider sale
• Negative Sentiment: SVP Brendan M. O’Malley and insider Madhav Vasanthavada also reported smaller sales, reinforcing a broader pattern of insider distribution that investors may view cautiously.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus set a $17.00 price objective on shares of Abeona Therapeutics in a report on Tuesday, March 17th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Abeona Therapeutics in a research report on Thursday, May 28th. 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, Oppenheimer reaffirmed an “outperform” rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. Two 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 MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.00.

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.