Madhav Vasanthavada Sells 12,610 Shares of Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) insider Madhav Vasanthavada sold 12,610 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $5.29, for a total value of $66,706.90. Following the completion of the sale, the insider directly owned 318,619 shares in the company, valued at $1,685,494.51. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Abeona Therapeutics Trading Down 1.5%

ABEO opened at $5.11 on Wednesday. The company has a market cap of $276.91 million, a P/E ratio of 4.15 and a beta of 1.12. The company has a current ratio of 9.74, a quick ratio of 9.53 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $5.11 and its 200-day moving average is $5.62. Abeona Therapeutics Inc. has a 1-year low of $3.93 and a 1-year high of $7.54.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings data on Wednesday, November 12th. The biopharmaceutical company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.17. Equities research analysts predict that Abeona Therapeutics Inc. will post -1.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ABEO has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Abeona Therapeutics in a research note on Wednesday, January 21st. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a report on Monday, October 13th. Finally, Wall Street Zen downgraded shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Institutional Trading of Abeona Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. lifted its position in shares of Abeona Therapeutics by 14.2% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,072,985 shares of the biopharmaceutical company’s stock worth $17,455,000 after purchasing an additional 381,357 shares during the period. Vanguard Group Inc. lifted its holdings in Abeona Therapeutics by 3.8% in the third quarter. Vanguard Group Inc. now owns 2,602,901 shares of the biopharmaceutical company’s stock valued at $13,743,000 after buying an additional 95,878 shares during the period. Boone Capital Management LLC bought a new stake in Abeona Therapeutics during the second quarter valued at $7,126,000. Geode Capital Management LLC grew its holdings in Abeona Therapeutics by 129.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock worth $6,282,000 after acquiring an additional 623,243 shares during the period. Finally, Kennedy Capital Management LLC raised its position in shares of Abeona Therapeutics by 56.4% in the 3rd quarter. Kennedy Capital Management LLC now owns 1,050,863 shares of the biopharmaceutical company’s stock worth $5,549,000 after acquiring an additional 378,860 shares in the last quarter. 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.