Key Points
- Abeona Therapeutics CFO Joseph Walter Vazzano sold 10,271 shares on June 8 at an average price of $5.43, totaling about $55,772. The sale was disclosed in an SEC filing and was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding obligations from vesting equity awards.
- Vazzano also sold 39,067 additional shares on June 9 at an average price of $5.36, bringing his recent insider selling activity to a larger combined amount.
- Abeona Therapeutics recently beat earnings and revenue estimates, reporting a smaller-than-expected loss of $0.30 per share and revenue of $8.72 million versus the $4.57 million consensus. Analysts currently rate the stock around Hold, with an average price target of $19.00.
Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) insider Madhav Vasanthavada sold 4,170 shares of the company's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $5.43, for a total transaction of $22,643.10. Following the sale, the insider owned 308,901 shares in the company, valued at $1,677,332.43. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 Tuesday, June 9th, Madhav Vasanthavada sold 5,450 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.30, for a total transaction of $28,885.00.
- On Monday, May 11th, Madhav Vasanthavada sold 5,548 shares of Abeona Therapeutics stock. The shares were sold at an average price of $5.96, for a total transaction of $33,066.08.
Abeona Therapeutics Stock Performance
Shares of ABEO stock opened at $5.45 on Wednesday. Abeona Therapeutics Inc. has a 12 month low of $4.00 and a 12 month high of $7.54. The company has a current ratio of 5.89, a quick ratio of 5.70 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $310.60 million, a P/E ratio of 5.62 and a beta of 1.35. The firm's 50 day moving average is $5.37 and its 200 day moving average is $5.16.
Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last posted its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.03. The firm had revenue of $8.72 million during the quarter, compared to analysts' expectations of $4.57 million. On average, sell-side analysts anticipate that Abeona Therapeutics Inc. will post -0.79 earnings per share for the current year.
Abeona Therapeutics News Summary
Here are the key news stories impacting Abeona Therapeutics this week:
- Positive Sentiment: Abeona previously reported quarterly EPS of -$0.30, beating estimates of -$0.33, and revenue of $8.72 million versus expectations of $4.57 million, which supports the bullish case for the stock.
- Positive Sentiment: Wall Street remains constructive overall, with two Buy ratings, an average Hold rating, and an average price target of $19.00, well above the current trading range.
- Neutral Sentiment: The company’s strong liquidity and low leverage, including a current ratio of 5.89 and debt-to-equity ratio of 0.03, provide financial flexibility.
- Negative Sentiment: CEO Vishwas Seshadri sold shares in multiple transactions on June 8 and June 9, reducing his stake, though the company said the sales were for tax withholding related to equity vesting. Article: CEO insider sale
- Negative Sentiment: CFO Joseph Walter Vazzano also sold shares on June 8 and June 9, including a larger Rule 10b5-1 transaction, adding to the insider-selling overhang. Article: CFO insider sale
- Negative Sentiment: SVP Brendan M. O’Malley and insider Madhav Vasanthavada also reported smaller sales, reinforcing a broader pattern of insider distribution that investors may view cautiously.
Hedge Funds Weigh In On Abeona Therapeutics
Several institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings 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 purchasing an additional 2,155 shares during the last quarter. Legato Capital Management LLC grew its holdings in shares of Abeona Therapeutics by 21.0% during the 4th quarter. Legato Capital Management LLC now owns 13,180 shares of the biopharmaceutical company's stock valued at $69,000 after purchasing an additional 2,290 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Abeona Therapeutics by 6.2% during the 4th quarter. Deutsche Bank AG now owns 39,368 shares of the biopharmaceutical company's stock valued at $207,000 after purchasing an additional 2,303 shares during the last quarter. Rangeley Capital LLC grew its holdings in shares of Abeona Therapeutics by 4.2% during the 1st quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company's stock valued at $269,000 after purchasing an additional 2,400 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Abeona Therapeutics by 5.3% during the 4th quarter. LPL Financial LLC now owns 62,873 shares of the biopharmaceutical company's stock valued at $331,000 after purchasing an additional 3,165 shares during the last quarter. Institutional investors own 80.56% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have issued reports on ABEO shares. Stifel Nicolaus set a $17.00 target price on shares of Abeona Therapeutics in a research note on Tuesday, March 17th. HC Wainwright reiterated a "buy" rating and issued a $20.00 target price on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Wall Street Zen upgraded shares of Abeona Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Monday, June 1st. Finally, Oppenheimer restated an "outperform" rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. Two equities 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, Abeona Therapeutics currently has an average rating of "Hold" and an average target price of $19.00.
Check Out Our Latest Report on ABEO
About Abeona Therapeutics
(
Get Free Report)
Abeona Therapeutics is a clinical‐stage biopharmaceutical company focused on the development and commercialization of gene and cell therapies for severe, life‐threatening rare diseases and oncology indications. Founded in 2014 and headquartered in Cleveland, Ohio, Abeona leverages proprietary viral and non‐viral delivery platforms to correct or compensate for underlying genetic deficiencies. The company's research efforts target pediatric neurodegenerative disorders as well as debilitating dermatologic conditions with high unmet medical need.
The company's lead clinical programs include separate AAV‐based gene therapies for CLN1 and CLN3 forms of neuronal ceroid lipofuscinosis, alongside an ex vivo autologous cell therapy for recessive dystrophic epidermolysis bullosa.
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