Abeona Therapeutics (NASDAQ:ABEO) CEO Vishwas Seshadri Sells 19,274 Shares

Key Points

• Abeona Therapeutics CEO Vishwas Seshadri sold 19,274 shares on September 29th for a total of $103,886.86, reducing his ownership by 1.56% to 1,215,067 shares.
• The company reported earnings of $1.71 per share, exceeding analysts' expectations, yet their revenue was significantly lower than anticipated at $0.40 million against a consensus of $21.71 million.
• Abeona's stock has a consensus rating of "Buy" with a target price of $19.50, as reflected by several analysts' recent upgrades and recommendations.

Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) CEO Vishwas Seshadri sold 19,274 shares of the business's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $5.39, for a total transaction of $103,886.86. Following the completion of the transaction, the chief executive officer owned 1,215,067 shares in the company, valued at $6,549,211.13. This represents a 1.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, September 30th, Vishwas Seshadri sold 25,000 shares of Abeona Therapeutics stock. The stock was sold at an average price of $5.24, for a total transaction of $131,000.00.
• On Wednesday, July 9th, Vishwas Seshadri sold 69,420 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.86, for a total transaction of $406,801.20.

Abeona Therapeutics Stock Performance

Shares of ABEO remained flat at $5.28 during mid-day trading on Wednesday. The stock had a trading volume of 996,147 shares, compared to its average volume of 1,001,008. The firm's 50 day simple moving average is $6.44 and its 200-day simple moving average is $5.93. The company has a market cap of $270.75 million, a PE ratio of 7.54 and a beta of 1.67. The company has a quick ratio of 6.65, a current ratio of 6.73 and a debt-to-equity ratio of 0.09. Abeona Therapeutics Inc. has a 52 week low of $3.93 and a 52 week high of $7.54.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last issued its earnings results on Thursday, August 14th. The biopharmaceutical company reported $1.71 earnings per share for the quarter, topping analysts' consensus estimates of ($0.39) by $2.10. The business had revenue of $0.40 million for the quarter, compared to the consensus estimate of $21.71 million. Equities research analysts anticipate that Abeona Therapeutics Inc. will post -1.16 EPS for the current year.

Analyst Upgrades and Downgrades

ABEO has been the subject of a number of research analyst reports. Oppenheimer upped their price objective on shares of Abeona Therapeutics from $19.00 to $20.00 and gave the company an "outperform" rating in a research report on Friday, August 15th. HC Wainwright reaffirmed a "buy" rating and set a $20.00 target price on shares of Abeona Therapeutics in a report on Monday, August 18th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $19.50.

Institutional Investors Weigh In On Abeona Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Creative Planning lifted its holdings in shares of Abeona Therapeutics by 43.0% during the 2nd quarter. Creative Planning now owns 14,310 shares of the biopharmaceutical company's stock worth $81,000 after acquiring an additional 4,305 shares during the period. Ameritas Investment Partners Inc. bought a new position in Abeona Therapeutics in the 2nd quarter valued at approximately $25,000. Legal & General Group Plc bought a new position in Abeona Therapeutics in the 2nd quarter valued at approximately $27,000. OMERS ADMINISTRATION Corp lifted its stake in Abeona Therapeutics by 11.0% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 72,200 shares of the biopharmaceutical company's stock valued at $344,000 after purchasing an additional 7,155 shares during the last quarter. Finally, Riverwater Partners LLC bought a new position in Abeona Therapeutics in the 2nd quarter valued at approximately $62,000. 80.56% of the stock is currently owned by institutional investors.

About Abeona Therapeutics

Abeona Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and delivering gene therapy products for severe and life-threatening rare diseases. The company's lead programs are EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB); ABO-102, which are AAV based gene therapies for Sanfilippo syndrome type A; and ABO-101, an adeno-associated virus (AAV) based gene therapies for Sanfilippo syndrome type B.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.