Abeona Therapeutics (NASDAQ:ABEO) CEO Vishwas Seshadri Sells 67,971 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CEO Vishwas Seshadri sold 67,971 shares of Abeona Therapeutics stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $6.96, for a total value of $473,078.16. Following the completion of the transaction, the chief executive officer owned 1,306,108 shares of the company’s stock, valued at approximately $9,090,511.68. This trade represents a 4.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 Tuesday, June 9th, Vishwas Seshadri sold 31,916 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.30, for a total value of $169,154.80.
• On Monday, June 8th, Vishwas Seshadri sold 24,428 shares of Abeona Therapeutics stock. The stock was sold at an average price of $5.43, for a total value of $132,644.04.

Abeona Therapeutics Price Performance

NASDAQ ABEO traded up $0.32 on Thursday, reaching $7.12. 2,608,182 shares of the company’s stock traded hands, compared to its average volume of 1,352,993. The stock has a market cap of $405.77 million, a PE ratio of 7.34 and a beta of 1.34. Abeona Therapeutics Inc. has a 12 month low of $4.00 and a 12 month high of $7.54. The stock has a 50-day simple moving average of $5.75 and a 200 day simple moving average of $5.31. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.89 and a quick ratio of 5.70.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) 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 analysts’ expectations of $4.57 million. As a group, research analysts predict that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current year.

Institutional Investors Weigh In On Abeona Therapeutics

A number of institutional investors have recently made changes to their positions in ABEO. Royal Bank of Canada raised its holdings 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 acquiring an additional 2,155 shares during the last quarter. Rangeley Capital LLC lifted its holdings in shares of Abeona Therapeutics by 4.2% during the first quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company’s stock valued at $269,000 after purchasing an additional 2,400 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Abeona Therapeutics by 38.6% during the first quarter. Renaissance Technologies LLC now owns 161,082 shares of the biopharmaceutical company’s stock valued at $722,000 after buying an additional 44,882 shares during the last quarter. Sei Investments Co. increased its holdings 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 buying an additional 101,307 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Abeona Therapeutics during the 1st quarter valued at about $154,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ABEO. Stifel Nicolaus set a $17.00 price objective on Abeona Therapeutics in a research report on Tuesday, March 17th. HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a report on Thursday, May 28th. Wall Street Zen raised Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Monday, June 1st. Finally, Weiss Ratings raised Abeona Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.