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

Key Points

• CEO Vishwas Seshadri sold 19,608 ABEO shares at an average price of $5.16, generating approximately $101,177. The sale covered tax-withholding obligations tied to vested equity awards and reduced his direct ownership by 1.5% to 1.29 million shares.
• Abeona’s shares opened at $5.16, with a 52-week range of $4.00 to $7.65 and a market capitalization of about $295 million. The company’s latest quarterly loss of $0.35 per share exceeded analysts’ expected loss of $0.23, while revenue also fell short of estimates.
• Analyst sentiment remains broadly positive, with five Buy ratings and one Sell rating producing a “Moderate Buy” consensus and a $21 price target. Institutional investors own approximately 80.56% of the company’s stock.

Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) CEO Vishwas Seshadri sold 19,608 shares of Abeona Therapeutics stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $5.16, for a total transaction of $101,177.28. Following the completion of the sale, the chief executive officer directly owned 1,286,500 shares of the company's stock, valued at $6,638,340. The trade was a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 value of $473,078.16.

Abeona Therapeutics Price Performance

ABEO opened at $5.16 on Wednesday. Abeona Therapeutics Inc. has a 1 year low of $4.00 and a 1 year high of $7.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.40 and a current ratio of 6.63. The company's 50 day simple moving average is $6.07 and its 200 day simple moving average is $5.72. The stock has a market capitalization of $295.07 million, a PE ratio of -4.73 and a beta of 1.33.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.12). The firm had revenue of $11.38 million during the quarter, compared to analyst estimates of $12.24 million. As a group, sell-side analysts expect that Abeona Therapeutics Inc. will post -0.88 EPS for the current year.

Analyst Upgrades and Downgrades

ABEO has been the subject of several recent research reports. 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 raised their target price on Abeona Therapeutics from $28.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, September 18th. Oppenheimer restated an "outperform" rating and set a $21.00 price objective (down from $22.00) on shares of Abeona Therapeutics in a research note on Friday, August 14th. Weiss Ratings lowered shares of Abeona Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, August 17th. Finally, UBS Group restated a "buy" rating on shares of Abeona Therapeutics in a research note on Friday. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $21.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ABEO. Royal Bank of Canada boosted its position in shares of Abeona Therapeutics by 49.6% during the first quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 2,155 shares during the period. Riverwater Partners LLC raised its stake in Abeona Therapeutics by 22.2% during the 4th quarter. Riverwater Partners LLC now owns 19,375 shares of the biopharmaceutical company's stock valued at $102,000 after acquiring an additional 3,518 shares in the last quarter. AXQ Capital LP bought a new position in shares of Abeona Therapeutics in the fourth quarter worth $177,000. Dimensional Fund Advisors LP acquired a new position in shares of Abeona Therapeutics during the first quarter valued at $154,000. Finally, WINTON GROUP Ltd bought a new stake in shares of Abeona Therapeutics during the second quarter valued at about $256,000. Institutional investors 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.

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