Abeona Therapeutics (NASDAQ:ABEO) Insider Madhav Vasanthavada Sells 4,902 Shares of Company Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) insider Madhav Vasanthavada sold 4,902 shares of the firm’s stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $5.16, for a total transaction of $25,294.32. Following the sale, the insider owned 285,721 shares in the company, valued at approximately $1,474,320.36. The trade was a 1.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 Thursday, July 9th, Madhav Vasanthavada sold 12,606 shares of Abeona Therapeutics stock. The stock was sold at an average price of $6.96, for a total transaction of $87,737.76.

Abeona Therapeutics Price Performance

Shares of ABEO stock traded down $0.13 on Tuesday, hitting $5.16. 1,253,359 shares of the stock traded hands, compared to its average volume of 1,359,931. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.63 and a quick ratio of 6.40. Abeona Therapeutics Inc. has a 52 week low of $4.00 and a 52 week high of $7.65. The firm has a 50 day simple moving average of $6.07 and a two-hundred day simple moving average of $5.72. The firm has a market cap of $295.07 million, a price-to-earnings ratio of -4.73 and a beta of 1.33.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The business had revenue of $11.38 million during the quarter, compared to analyst estimates of $12.24 million. As a group, equities research analysts predict that Abeona Therapeutics Inc. will post -0.88 earnings per share for the current fiscal year.

Institutional Trading of Abeona Therapeutics

Large investors have recently modified their holdings of the company. AIGH Capital Management LLC grew its stake in Abeona Therapeutics by 55.0% in the first quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company’s stock worth $13,888,000 after purchasing an additional 1,100,000 shares in the last quarter. AWM Investment Company Inc. bought a new stake in Abeona Therapeutics during the 2nd quarter valued at $9,184,000. Simplify Asset Management Inc. lifted its holdings in shares of Abeona Therapeutics by 1.5% in the 1st quarter. Simplify Asset Management Inc. now owns 507,988 shares of the biopharmaceutical company’s stock worth $2,276,000 after buying an additional 7,646 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Abeona Therapeutics in the 2nd quarter worth $1,262,000. Finally, Sei Investments Co. grew its position in shares of Abeona Therapeutics by 142.4% during 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. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings cut Abeona Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, August 17th. Wall Street Zen raised Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. HC Wainwright reaffirmed a “buy” rating on shares of Abeona Therapeutics in a report on Friday. Cantor Fitzgerald lifted their target price on Abeona Therapeutics from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, September 18th. Finally, Roth Capital initiated coverage on Abeona Therapeutics in a report on Thursday, September 17th. They set a “buy” rating and a $17.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

About Abeona Therapeutics

Abeona Therapeutics Inc is a biopharmaceutical company focused on developing and commercializing cell and gene therapies for patients with serious and life-threatening genetic diseases. The company’s programs are designed to address conditions for which existing treatment options are limited or inadequate.

Abeona’s lead product, ZEVASKYN (prademagene zamikeracel, formerly EB-101), is an autologous gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa, a rare inherited disorder that causes fragile skin and chronic wounds.