Abeona Therapeutics (NASDAQ:ABEO) CEO Vishwas Seshadri Sells 31,916 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CEO Vishwas Seshadri sold 31,916 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $5.30, for a total transaction of $169,154.80. Following the sale, the chief executive officer owned 1,374,079 shares in the company, valued at $7,282,618.70. This represents a 2.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Vishwas Seshadri also recently made the following trade(s):

• On Monday, June 8th, Vishwas Seshadri sold 24,428 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.43, for a total transaction of $132,644.04.

Abeona Therapeutics Stock Performance

Shares of ABEO opened at $5.45 on Wednesday. The company’s 50 day moving average price is $5.37 and its 200 day moving average price is $5.16. Abeona Therapeutics Inc. has a 52 week low of $4.00 and a 52 week high of $7.54. The company has a market capitalization of $310.60 million, a PE ratio of 5.62 and a beta of 1.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.70 and a current ratio of 5.89.

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

Institutional Trading of Abeona Therapeutics

Large investors have recently added to or reduced their stakes in the business. Aberdeen Group plc acquired a new stake in shares of Abeona Therapeutics in the fourth quarter worth $3,248,000. AIGH Capital Management LLC acquired a new stake in shares of Abeona Therapeutics in the fourth quarter worth $10,540,000. Nan Fung Trinity HK Ltd. lifted its stake in shares of Abeona Therapeutics by 70.6% in the fourth quarter. Nan Fung Trinity HK Ltd. now owns 956,770 shares of the biopharmaceutical company’s stock worth $5,042,000 after buying an additional 396,000 shares during the last quarter. Truvestments Capital LLC lifted its stake in shares of Abeona Therapeutics by 191.4% in the fourth 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 during the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of Abeona Therapeutics in the second quarter worth $27,000. 80.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. 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. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Abeona Therapeutics in a research report on Thursday, May 28th. Stifel Nicolaus set a $17.00 target price on shares of Abeona Therapeutics in a research report on Tuesday, March 17th. Finally, Oppenheimer reissued an “outperform” rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Abeona Therapeutics currently has a consensus rating of “Hold” and an average target price 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.