Joseph Walter Vazzano Sells 39,067 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CFO Joseph Walter Vazzano sold 39,067 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $5.36, for a total transaction of $209,399.12. Following the transaction, the chief financial officer owned 518,437 shares in the company, valued at $2,778,822.32. This represents a 7.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 Monday, June 8th, Joseph Walter Vazzano sold 10,271 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.43, for a total value of $55,771.53.

Abeona Therapeutics Stock Up 1.3%

Abeona Therapeutics stock traded up $0.07 during midday trading on Tuesday, reaching $5.45. The stock had a trading volume of 1,159,558 shares, compared to its average volume of 981,006. The company has a fifty day moving average price of $5.37 and a two-hundred day moving average price of $5.16. Abeona Therapeutics Inc. has a 12 month low of $4.00 and a 12 month high of $7.54. 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 company has a market capitalization of $310.60 million, a P/E ratio of 5.62 and a beta of 1.35.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.03. The firm had revenue of $8.72 million during the quarter, compared to the consensus estimate of $4.57 million. As a group, equities analysts expect that Abeona Therapeutics Inc. will post -0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Abeona Therapeutics

Several large investors have recently made changes to their positions in the business. Legal & General Group Plc bought a new position in Abeona Therapeutics during the second quarter valued at about $27,000. Royal Bank of Canada boosted its stake in Abeona Therapeutics by 49.6% in the first quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 2,155 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Abeona Therapeutics in the third quarter valued at about $37,000. Truvestments Capital LLC grew its position in shares of Abeona Therapeutics by 191.4% during the 4th quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 6,770 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Abeona Therapeutics during the 4th quarter worth approximately $57,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABEO has been the subject of a number of recent research reports. Stifel Nicolaus set a $17.00 price target on shares of Abeona Therapeutics in a research note on Tuesday, March 17th. Wall Street Zen upgraded shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Monday, June 1st. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a research report on Thursday, May 28th. Finally, Oppenheimer restated an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Abeona Therapeutics has a consensus rating of “Hold” and an average price target of $19.00.

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.