Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) Insider Sells 4,902 Shares of Company Stock

Key Points

• Abeona Therapeutics insider Madhav Vasanthavada sold 4,902 shares at an average of $5.16, generating $25,294.32. The sale covered tax withholding tied to vested equity awards and reduced his position by 1.69%.
• ABEO shares fell 2.5% to $5.16, while the company reported a quarterly loss of $0.35 per share, missing the consensus estimate of a $0.23 loss; analysts expect a full-year loss of $0.88 per share.
• Analyst sentiment remains generally positive, with five Buy ratings and one Sell rating producing a “Moderate Buy” consensus and a $21 average price target. Institutional investors own 80.56% of the stock.

Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) insider Madhav Vasanthavada sold 4,902 shares of Abeona Therapeutics stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $5.16, for a total transaction of $25,294.32. Following the sale, the insider directly owned 285,721 shares in the company, valued at $1,474,320.36. The trade was a 1.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Madhav Vasanthavada also recently made the following trade(s):

• On Thursday, July 9th, Madhav Vasanthavada sold 12,606 shares of Abeona Therapeutics stock. The shares were sold at an average price of $6.96, for a total transaction of $87,737.76.

Abeona Therapeutics Stock Down 2.5%

ABEO traded down $0.13 on Tuesday, hitting $5.16. The company had a trading volume of 1,253,359 shares, compared to its average volume of 1,359,931. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.63 and a quick ratio of 6.40. Abeona Therapeutics Inc. has a 52-week low of $4.00 and a 52-week high of $7.65. The stock has a fifty day simple moving average of $6.07 and a 200-day simple moving average of $5.72. The firm 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 - Get Free Report) last posted its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.12). The business had revenue of $11.38 million during the quarter, compared to analysts' expectations of $12.24 million. As a group, equities analysts expect that Abeona Therapeutics Inc. will post -0.88 EPS for the current fiscal year.

Analyst Ratings Changes

ABEO has been the subject of a number of research reports. UBS Group reiterated a "buy" rating on shares of Abeona Therapeutics in a report on Friday. Roth Capital started coverage on shares of Abeona Therapeutics in a research report on Thursday, September 17th. They issued a "buy" rating and a $17.00 target price on the stock. Wall Street Zen upgraded shares of Abeona Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 1st. Oppenheimer reissued an "outperform" rating and set a $21.00 price target (down from $22.00) on shares of Abeona Therapeutics in a research report on Friday, August 14th. Finally, 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. Five 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 stock currently has an average rating of "Moderate Buy" and a consensus target price of $21.00.

Institutional Investors Weigh In On Abeona Therapeutics

Several hedge funds have recently added to or reduced their stakes in ABEO. Royal Bank of Canada grew its position in shares of Abeona Therapeutics by 49.6% during the 1st quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 2,155 shares during the period. Rangeley Capital LLC raised its holdings in Abeona Therapeutics by 4.2% in the 1st quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company's stock worth $269,000 after purchasing an additional 2,400 shares during the period. Riverwater Partners LLC lifted its position in Abeona Therapeutics by 22.2% during the fourth quarter. Riverwater Partners LLC now owns 19,375 shares of the biopharmaceutical company's stock valued at $102,000 after purchasing an additional 3,518 shares in the last quarter. Simplify Asset Management Inc. lifted its position in Abeona Therapeutics by 1.5% during the first quarter. Simplify Asset Management Inc. now owns 507,988 shares of the biopharmaceutical company's stock valued at $2,276,000 after purchasing an additional 7,646 shares in the last quarter. Finally, Pale Fire Capital SE grew its holdings in Abeona Therapeutics by 17.3% during the second quarter. Pale Fire Capital SE now owns 81,945 shares of the biopharmaceutical company's stock valued at $506,000 after purchasing an additional 12,100 shares during the period. 80.56% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.