Abeona Therapeutics (NASDAQ:ABEO) Insider Madhav Vasanthavada Sells 4,170 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) insider Madhav Vasanthavada sold 4,170 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $5.43, for a total value of $22,643.10. Following the sale, the insider directly owned 308,901 shares of the company’s stock, valued at $1,677,332.43. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Madhav Vasanthavada also recently made the following trade(s):

• On Tuesday, June 9th, Madhav Vasanthavada sold 5,450 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.30, for a total value of $28,885.00.
• On Monday, May 11th, Madhav Vasanthavada sold 5,548 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.96, for a total value of $33,066.08.

Abeona Therapeutics Stock Performance

Shares of ABEO opened at $5.45 on Wednesday. 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 company has a market capitalization of $310.60 million, a price-to-earnings ratio of 5.62 and a beta of 1.35. The stock has a 50 day moving average of $5.37 and a 200 day moving average of $5.16. Abeona Therapeutics Inc. has a 12 month low of $4.00 and a 12 month high of $7.54.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly 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 business had revenue of $8.72 million for the quarter, compared to analysts’ expectations of $4.57 million. As a group, sell-side analysts forecast that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ABEO shares. Stifel Nicolaus set a $17.00 target price on shares of Abeona Therapeutics in a research report on Tuesday, March 17th. 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 reissued a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a research report on Thursday, May 28th. Finally, Oppenheimer reissued an “outperform” rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $19.00.

Key Abeona Therapeutics News

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.

Institutional Trading of Abeona Therapeutics

Institutional investors have recently modified their holdings of the business. Legal & General Group Plc purchased a new stake in shares of Abeona Therapeutics during the 2nd quarter valued at approximately $27,000. Royal Bank of Canada lifted its stake in shares of Abeona Therapeutics by 49.6% during the 1st quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 2,155 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Abeona Therapeutics during the 3rd quarter valued at approximately $37,000. Truvestments Capital LLC lifted its stake in shares of Abeona Therapeutics by 191.4% during the 4th quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 6,770 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Abeona Therapeutics during the 4th quarter valued at approximately $57,000. 80.56% of the stock is currently owned by hedge funds and other 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.