Abeona Therapeutics Inc. (NASDAQ:ABEO – Get Free Report) insider Madhav Vasanthavada sold 12,606 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $6.96, for a total transaction of $87,737.76. Following the completion of the transaction, the insider directly owned 290,623 shares of the company’s stock, valued at $2,022,736.08. This trade represents a 4.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 transaction of $28,885.00.
- 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 stock was sold at an average price of $5.96, for a total transaction of $33,066.08.
Abeona Therapeutics Price Performance
Shares of NASDAQ:ABEO opened at $7.12 on Friday. The company has a market cap of $405.77 million, a price-to-earnings ratio of 7.34 and a beta of 1.34. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.89 and a quick ratio of 5.70. The firm has a 50 day simple moving average of $5.75 and a 200 day simple moving average of $5.31. Abeona Therapeutics Inc. has a one year low of $4.00 and a one year high of $7.54.
Hedge Funds Weigh In On Abeona Therapeutics
Hedge funds have recently modified their holdings of the business. Legal & General Group Plc bought a new stake in shares of Abeona Therapeutics in the second quarter worth $27,000. Royal Bank of Canada raised its position in 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 purchasing an additional 2,155 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Abeona Therapeutics during the 3rd quarter worth $37,000. Truvestments Capital LLC lifted its holdings in Abeona Therapeutics by 191.4% during the 4th 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 period. Finally, SG Americas Securities LLC acquired a new position in Abeona Therapeutics during the 4th quarter worth about $57,000. Institutional investors and hedge funds own 80.56% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on ABEO. Wall Street Zen upgraded Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Monday, June 1st. Weiss Ratings upgraded Abeona Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Stifel Nicolaus set a $17.00 price target on Abeona Therapeutics in a research note on Tuesday, March 17th. Finally, HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Abeona Therapeutics in a report on Thursday, May 28th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Abeona Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.
Check Out Our Latest Analysis on ABEO
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.
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