Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) CFO Sells 10,271 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CFO Joseph Walter Vazzano sold 10,271 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $5.43, for a total transaction of $55,771.53. Following the completion of the transaction, the chief financial officer owned 557,504 shares in the company, valued at approximately $3,027,246.72. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 Tuesday, June 9th, Joseph Walter Vazzano sold 39,067 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.36, for a total transaction of $209,399.12.

Abeona Therapeutics Stock Performance

ABEO traded up $0.07 on Tuesday, hitting $5.45. 1,159,558 shares of the company’s stock were exchanged, compared to its average volume of 981,006. The company has a current ratio of 5.89, a quick ratio of 5.70 and a debt-to-equity ratio of 0.03. The stock has a fifty day moving average of $5.37 and a two-hundred day moving average of $5.16. 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 PE ratio of 5.62 and a beta of 1.35.

Abeona Therapeutics (NASDAQ:ABEO) last issued its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) EPS 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. On average, research analysts anticipate that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ABEO. Oppenheimer reaffirmed an “outperform” rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. Stifel Nicolaus set a $17.00 price target on shares of Abeona Therapeutics in a research report on Tuesday, March 17th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a report on Thursday, May 28th. Finally, Wall Street Zen raised Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Monday, June 1st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Abeona Therapeutics has an average rating of “Hold” and a consensus price target of $19.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ABEO. Goldman Sachs Group Inc. increased its stake in shares of Abeona Therapeutics by 49.6% during the first quarter. Goldman Sachs Group Inc. now owns 200,450 shares of the biopharmaceutical company’s stock valued at $954,000 after acquiring an additional 66,422 shares during the period. Geode Capital Management LLC boosted its stake in 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 valued at $6,282,000 after purchasing an additional 623,243 shares in the last quarter. Creative Planning boosted its stake in Abeona Therapeutics by 43.0% during the 2nd quarter. Creative Planning now owns 14,310 shares of the biopharmaceutical company’s stock valued at $81,000 after purchasing an additional 4,305 shares in the last quarter. JPMorgan Chase & Co. increased 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 valued at $4,721,000 after purchasing 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 worth $27,000. 80.56% of the stock is currently owned by institutional investors.

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.