Madhav Vasanthavada Sells 5,450 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEOGet Free Report) insider Madhav Vasanthavada sold 5,450 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $5.30, for a total transaction of $28,885.00. Following the completion of the transaction, the insider directly owned 303,451 shares in the company, valued at $1,608,290.30. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 Monday, June 8th, Madhav Vasanthavada sold 4,170 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.43, for a total transaction of $22,643.10.
  • 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 transaction of $33,066.08.

Abeona Therapeutics Trading Down 1.7%

Shares of Abeona Therapeutics stock opened at $5.36 on Thursday. The firm has a market capitalization of $305.49 million, a PE ratio of 5.53 and a beta of 1.35. Abeona Therapeutics Inc. has a twelve month low of $4.00 and a twelve month high of $7.54. The firm’s 50-day moving average price is $5.40 and its 200 day moving average price is $5.17. The company has a current ratio of 5.89, a quick ratio of 5.70 and a debt-to-equity ratio of 0.03.

Abeona Therapeutics (NASDAQ:ABEOGet Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share 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 analysts’ expectations of $4.57 million. On average, sell-side analysts predict that Abeona Therapeutics Inc. will post -0.79 EPS for the current fiscal year.

Analysts Set New Price Targets

ABEO has been the subject of a number of recent research reports. Stifel Nicolaus set a $17.00 price objective on shares of Abeona Therapeutics in a report on Tuesday, March 17th. Oppenheimer reiterated an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. HC Wainwright reiterated 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 upgraded shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Monday, June 1st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.00.

Read Our Latest Research Report on ABEO

Abeona Therapeutics News Summary

Here are the key news stories impacting Abeona Therapeutics this week:

  • Positive Sentiment: Abeona’s last quarterly report beat expectations, with EPS of -$0.30 versus -$0.33 expected and revenue of $8.72 million versus $4.57 million forecast, supporting the longer-term bullish thesis.
  • Positive Sentiment: Analysts remain generally constructive, with an average rating of Hold and an average price target of $19.00, well above the current share price.
  • Neutral Sentiment: The company updated its investor presentation under Regulation FD, which appears to be a routine communications update rather than a major business catalyst. Article: Abeona Therapeutics Updates Investor Presentation Under Regulation FD
  • Neutral Sentiment: Abeona continues to show strong liquidity and low leverage, which gives it financial flexibility while it advances its gene- and cell-therapy pipeline.
  • Negative Sentiment: CEO Vishwas Seshadri sold shares in multiple transactions, and CFO Joseph Walter Vazzano also sold shares, adding to investor concern about insider confidence, even though the company said the sales were tied to tax withholding and equity vesting.
  • Negative Sentiment: Additional selling from insiders Madhav Vasanthavada and Brendan M. O’Malley reinforces the near-term overhang from insider distribution.

Institutional Trading of Abeona Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its holdings 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 worth $29,000 after buying an additional 2,155 shares during the last quarter. Rangeley Capital LLC increased its holdings in shares of Abeona Therapeutics by 4.2% during the 1st quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company’s stock worth $269,000 after buying an additional 2,400 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Abeona Therapeutics by 38.6% during the 1st quarter. Renaissance Technologies LLC now owns 161,082 shares of the biopharmaceutical company’s stock worth $722,000 after buying an additional 44,882 shares during the last quarter. Sei Investments Co. increased its holdings 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 during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Abeona Therapeutics during the 1st quarter worth approximately $154,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Abeona Therapeutics Company Profile

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Abeona Therapeutics (NASDAQ:ABEO)

Receive News & Ratings for Abeona Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abeona Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.