Insider Selling: Abeona Therapeutics (NASDAQ:ABEO) CEO Sells 25,000 Shares of Stock

Key Points

• Vishwas Seshadri, CEO of Abeona Therapeutics, sold 25,000 shares on September 30th at an average price of $5.24, resulting in a total value of $131,000, reducing his ownership by 2.06%.
• Abeona Therapeutics reported $1.71 earnings per share (EPS) in their last quarterly results, exceeding analysts' expectations of a loss of $0.39.
• The stock currently has a consensus rating of "Buy" from analysts, with an average target price of $19.50 and recent upgrades from firms like Oppenheimer.

Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) CEO Vishwas Seshadri sold 25,000 shares of the company's stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $5.24, for a total value of $131,000.00. Following the transaction, the chief executive officer directly owned 1,190,067 shares in the company, valued at $6,235,951.08. The trade was a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, September 29th, Vishwas Seshadri sold 19,274 shares of Abeona Therapeutics stock. The stock was sold at an average price of $5.39, for a total value of $103,886.86.
• 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 value of $406,801.20.

Abeona Therapeutics Stock Performance

NASDAQ:ABEO remained flat at $5.28 during mid-day trading on Wednesday. The company had a trading volume of 996,147 shares, compared to its average volume of 1,001,008. The firm's 50 day moving average price is $6.44 and its 200 day moving average price is $5.93. 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 1 year low of $3.93 and a 1 year high of $7.54. The company has a market capitalization of $270.75 million, a price-to-earnings ratio of 7.54 and a beta of 1.67.

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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.39) by $2.10. The company had revenue of $0.40 million during the quarter, compared to analyst estimates of $21.71 million. As a group, equities research analysts expect that Abeona Therapeutics Inc. will post -1.16 earnings per share for the current year.

Institutional Investors Weigh In On Abeona Therapeutics

Institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. acquired a new position in shares of Abeona Therapeutics during the second quarter worth $25,000. Legal & General Group Plc bought a new position in shares of Abeona Therapeutics during the 2nd quarter worth about $27,000. Riverwater Partners LLC bought a new position in Abeona Therapeutics in the 2nd quarter valued at about $62,000. Police & Firemen s Retirement System of New Jersey bought a new position in Abeona Therapeutics in the 2nd quarter valued at about $63,000. Finally, Cannon Global Investment Management LLC bought a new position in shares of Abeona Therapeutics during the 1st quarter worth approximately $67,000. 80.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. HC Wainwright reissued a "buy" rating and issued a $20.00 target price on shares of Abeona Therapeutics in a research note on Monday, August 18th. Oppenheimer lifted their price target on Abeona Therapeutics from $19.00 to $20.00 and gave the company an "outperform" rating in a research note on Friday, August 15th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Abeona Therapeutics has a consensus rating of "Buy" and an average target price of $19.50.

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.

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