Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) CFO Sells 10,271 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CFO Joseph Walter Vazzano sold 10,271 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $5.43, for a total transaction of $55,771.53. Following the transaction, the chief financial officer owned 557,504 shares of the company’s stock, valued at approximately $3,027,246.72. This trade represents a 1.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Joseph Walter Vazzano also recently made the following trade(s):

• On Tuesday, June 9th, Joseph Walter Vazzano sold 39,067 shares of Abeona Therapeutics stock. The stock was sold at an average price of $5.36, for a total transaction of $209,399.12.

Abeona Therapeutics Price Performance

ABEO stock traded up $0.07 on Tuesday, hitting $5.45. 1,159,558 shares of the company’s stock traded hands, compared to its average volume of 981,006. The company has a current ratio of 5.89, a quick ratio of 5.70 and a debt-to-equity ratio of 0.03. The stock has a market cap of $310.60 million, a price-to-earnings ratio of 5.62 and a beta of 1.35. Abeona Therapeutics Inc. has a 1-year low of $4.00 and a 1-year high of $7.54. The stock has a fifty day moving average of $5.37 and a 200-day moving average of $5.16.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. The company had revenue of $8.72 million for the quarter, compared to analyst estimates of $4.57 million. On average, analysts forecast that Abeona Therapeutics Inc. will post -0.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on ABEO shares. Wall Street Zen upgraded shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Monday, June 1st. Stifel Nicolaus set a $17.00 price target on shares of Abeona Therapeutics in a research report on Tuesday, March 17th. Oppenheimer reaffirmed an “outperform” rating on shares of Abeona Therapeutics in a research note on Monday, March 9th. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $19.00.

Hedge Funds Weigh In On Abeona Therapeutics

A number of large investors have recently made changes to their positions in ABEO. Legal & General Group Plc purchased a new stake in shares of Abeona Therapeutics in the second quarter worth approximately $27,000. Royal Bank of Canada grew its position in Abeona Therapeutics by 49.6% during the first quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 2,155 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Abeona Therapeutics in the 3rd quarter valued at approximately $37,000. Truvestments Capital LLC lifted its position in Abeona Therapeutics by 191.4% in 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 in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Abeona Therapeutics during the 4th quarter valued at $57,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

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.