Abeona Therapeutics (NASDAQ:ABEO) Insider Madhav Vasanthavada Sells 5,548 Shares

Abeona Therapeutics Inc. (NASDAQ:ABEOGet Free Report) insider Madhav Vasanthavada sold 5,548 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $5.96, for a total value of $33,066.08. Following the completion of the sale, the insider directly owned 313,071 shares of the company’s stock, valued at approximately $1,865,903.16. This represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Abeona Therapeutics Stock Down 0.7%

Abeona Therapeutics stock traded down $0.04 during midday trading on Monday, hitting $5.86. The stock had a trading volume of 1,004,734 shares, compared to its average volume of 1,194,979. The company has a current ratio of 6.93, a quick ratio of 6.74 and a debt-to-equity ratio of 0.05. The stock has a market cap of $333.33 million, a P/E ratio of 5.69 and a beta of 1.35. Abeona Therapeutics Inc. has a 12 month low of $4.00 and a 12 month high of $7.54. The business has a fifty day moving average price of $5.02 and a 200 day moving average price of $5.03.

Abeona Therapeutics (NASDAQ:ABEOGet Free Report) last announced its quarterly earnings data on Tuesday, March 17th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.01. The firm had revenue of $3.00 million during the quarter, compared to the consensus estimate of $5.65 million. Research analysts predict that Abeona Therapeutics Inc. will post -0.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Stifel Nicolaus set a $17.00 price objective on Abeona Therapeutics in a report on Tuesday, March 17th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a report on Thursday, March 19th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Abeona Therapeutics in a report on Wednesday, January 21st. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Check Out Our Latest Stock Report on ABEO

Hedge Funds Weigh In On Abeona Therapeutics

Institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc bought a new position in shares of Abeona Therapeutics during the second quarter valued at approximately $27,000. Russell Investments Group Ltd. bought a new position in shares of Abeona Therapeutics during the third quarter valued at approximately $37,000. Truvestments Capital LLC grew its holdings in shares of Abeona Therapeutics by 191.4% during the fourth quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 6,770 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Abeona Therapeutics during the fourth quarter valued at approximately $57,000. Finally, Legato Capital Management LLC acquired a new position in shares of Abeona Therapeutics during the third quarter worth approximately $57,000. 80.56% of the stock is owned by institutional investors.

About Abeona Therapeutics

(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.

Further Reading

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

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