Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) CFO Sells 9,191 Shares of Stock

Key Points

• Abeona Therapeutics CFO Joseph Vazzano sold 9,191 shares at an average price of $5.16, generating $47,425.56. The sale covered tax-withholding obligations tied to vested equity awards and reduced his direct holdings by 1.87% to 482,888 shares.
• ABEO shares fell 2.5% to $5.16, while the company’s latest quarterly results missed expectations, reporting an adjusted loss of $0.35 per share versus the $0.23 consensus estimate and revenue of $11.38 million versus $12.24 million expected.
• Analyst sentiment remains generally positive, with five Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $21.00; institutional investors own approximately 80.56% of the stock.

Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) CFO Joseph Vazzano sold 9,191 shares of Abeona Therapeutics stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $5.16, for a total transaction of $47,425.56. Following the sale, the chief financial officer directly owned 482,888 shares of the company's stock, valued at $2,491,702.08. This represents a 1.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 Tuesday, July 21st, Joseph Vazzano sold 1,478 shares of Abeona Therapeutics stock. The shares were sold at an average price of $6.53, for a total value of $9,651.34.
• On Thursday, July 9th, Joseph Vazzano sold 24,880 shares of Abeona Therapeutics stock. The stock was sold at an average price of $6.96, for a total value of $173,164.80.

Abeona Therapeutics Stock Down 2.5%

NASDAQ ABEO traded down $0.13 on Tuesday, reaching $5.16. 1,253,359 shares of the stock traded hands, compared to its average volume of 1,359,931. Abeona Therapeutics Inc. has a 12 month low of $4.00 and a 12 month high of $7.65. The company has a market cap of $295.07 million, a price-to-earnings ratio of -4.73 and a beta of 1.33. The company has a fifty day moving average price of $6.07 and a 200-day moving average price of $5.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.40 and a current ratio of 6.63.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last announced its quarterly 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 firm had revenue of $11.38 million during the quarter, compared to analysts' expectations of $12.24 million. As a group, research analysts forecast that Abeona Therapeutics Inc. will post -0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Abeona Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. AIGH Capital Management LLC grew its stake in Abeona Therapeutics by 55.0% during the 1st quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company's stock worth $13,888,000 after buying an additional 1,100,000 shares during the last quarter. AWM Investment Company Inc. purchased a new stake in Abeona Therapeutics in the second quarter valued at about $9,184,000. Simplify Asset Management Inc. boosted its holdings in Abeona Therapeutics by 1.5% in the first quarter. Simplify Asset Management Inc. now owns 507,988 shares of the biopharmaceutical company's stock worth $2,276,000 after acquiring an additional 7,646 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Abeona Therapeutics in the second quarter worth about $1,262,000. Finally, Headlands Technologies LLC grew its stake in shares of Abeona Therapeutics by 97.5% during the second quarter. Headlands Technologies LLC now owns 125,090 shares of the biopharmaceutical company's stock worth $773,000 after acquiring an additional 61,745 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company's stock.

Analyst Upgrades and Downgrades

ABEO has been the subject of a number of recent research reports. Cantor Fitzgerald boosted their price objective on shares of Abeona Therapeutics from $28.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, September 18th. Wall Street Zen upgraded Abeona Therapeutics from a "strong sell" rating to a "sell" rating in a report on Saturday, August 1st. HC Wainwright reissued a "buy" rating on shares of Abeona Therapeutics in a research report on Friday. Weiss Ratings cut Abeona Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, August 17th. Finally, Roth Capital started coverage on Abeona Therapeutics in a research report on Thursday, September 17th. They set a "buy" rating and a $17.00 price objective on the stock. 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 MarketBeat.com, Abeona Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $21.00.

Abeona Therapeutics Company Profile

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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