Abeona Therapeutics (NASDAQ:ABEO) CEO Vishwas Seshadri Sells 19,608 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) CEO Vishwas Seshadri sold 19,608 shares of Abeona Therapeutics stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $5.16, for a total value of $101,177.28. Following the transaction, the chief executive officer owned 1,286,500 shares in the company, valued at approximately $6,638,340. This trade represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Vishwas Seshadri also recently made the following trade(s):

• On Thursday, July 9th, Vishwas Seshadri sold 67,971 shares of Abeona Therapeutics stock. The shares were sold at an average price of $6.96, for a total transaction of $473,078.16.

Abeona Therapeutics Stock Performance

Shares of ABEO opened at $5.16 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.63 and a quick ratio of 6.40. The firm’s 50 day moving average is $6.07 and its 200-day moving average is $5.72. Abeona Therapeutics Inc. has a 12-month low of $4.00 and a 12-month high of $7.65. The stock has a market capitalization of $295.07 million, a P/E ratio of -4.73 and a beta of 1.33.

Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The company had revenue of $11.38 million for the quarter, compared to analyst estimates of $12.24 million. Equities research analysts anticipate that Abeona Therapeutics Inc. will post -0.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ABEO shares. Oppenheimer reiterated an “outperform” rating and set a $21.00 price objective (down from $22.00) on shares of Abeona Therapeutics in a research report on Friday, August 14th. Wall Street Zen raised shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. Cantor Fitzgerald lifted their target price on shares of Abeona Therapeutics from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, September 18th. Roth Capital started coverage on Abeona Therapeutics in a research note on Thursday, September 17th. They issued a “buy” rating and a $17.00 target price on the stock. Finally, UBS Group reaffirmed a “buy” rating on shares of Abeona Therapeutics in a report on Friday. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Institutional Investors Weigh In On Abeona Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AWM Investment Company Inc. bought a new stake in shares of Abeona Therapeutics during the 2nd quarter valued at $9,184,000. AIGH Capital Management LLC lifted its stake in Abeona Therapeutics by 55.0% in the first quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company’s stock valued at $13,888,000 after buying an additional 1,100,000 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Abeona Therapeutics during the second quarter worth $1,262,000. Sei Investments Co. raised its holdings in shares of Abeona Therapeutics by 142.4% during the first quarter. Sei Investments Co. now owns 172,460 shares of the biopharmaceutical company’s stock worth $773,000 after acquiring an additional 101,307 shares during the period. Finally, Corient Private Wealth LP bought a new stake in Abeona Therapeutics in the 2nd quarter valued at $556,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

About Abeona Therapeutics

Abeona Therapeutics Inc is a biopharmaceutical company focused on developing and commercializing cell and gene therapies for patients with serious and life-threatening genetic diseases. The company’s programs are designed to address conditions for which existing treatment options are limited or inadequate.

Abeona’s lead product, ZEVASKYN (prademagene zamikeracel, formerly EB-101), is an autologous gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa, a rare inherited disorder that causes fragile skin and chronic wounds.