Key Points
- CEO Vishwas Seshadri sold 19,608 ABEO shares at an average price of $5.16, worth approximately $101,177. The sale reduced his ownership by 1.5% and was made to cover tax withholding on vested equity awards.
- Abeona’s latest quarterly results missed expectations, with an adjusted loss of $0.35 per share versus the $0.23 consensus estimate and revenue of $11.38 million versus expectations of $12.24 million.
- Analyst sentiment remains broadly positive: five analysts rate the stock Buy and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $21, despite ABEO trading near $5.25.
Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) CEO Vishwas Seshadri sold 19,608 shares of the business's stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $5.16, for a total value of $101,177.28. Following the completion of the transaction, the chief executive officer directly owned 1,286,500 shares in the company, valued at $6,638,340. The trade was a 1.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 Trading Up 1.7%
Shares of ABEO opened at $5.25 on Thursday. The stock has a fifty day moving average price of $6.04 and a two-hundred day moving average price of $5.73. 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 Inc. has a 52-week low of $4.00 and a 52-week high of $7.65. The company has a market cap of $300.19 million, a price-to-earnings ratio of -4.82 and a beta of 1.33.
Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last posted 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 business had revenue of $11.38 million during the quarter, compared to the consensus estimate of $12.24 million. Analysts predict that Abeona Therapeutics Inc. will post -0.88 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have commented on ABEO. Weiss Ratings lowered shares of Abeona Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, August 17th. Oppenheimer reiterated an "outperform" rating and set a $21.00 target price (down from $22.00) on shares of Abeona Therapeutics in a research report on Friday, August 14th. UBS Group reissued a "buy" rating on shares of Abeona Therapeutics in a research note on Friday, September 25th. Cantor Fitzgerald raised their price target on shares of Abeona Therapeutics from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, September 18th. Finally, Wall Street Zen raised shares of Abeona Therapeutics from a "strong sell" rating to a "sell" rating in a report on Saturday, August 1st. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Abeona Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $21.00.
View Our Latest Stock Report on ABEO
Key Headlines Impacting Abeona Therapeutics
Here are the key news stories impacting Abeona Therapeutics this week:
- Positive Sentiment: Analyst sentiment remains broadly favorable. Cantor Fitzgerald raised its price target to $30, while HC Wainwright and UBS reiterated “buy” ratings. MarketBeat reported five buy ratings versus one sell rating, with an average target of $21.00. Insider Selling: Abeona Therapeutics
- Positive Sentiment: Institutional ownership is substantial at approximately 80.56%. Several investment firms increased positions, including AIGH Capital Management, which boosted its holdings by 55%, and Sei Investments, which increased its stake by 142.4%. Abeona Therapeutics stock information
- Neutral Sentiment: CEO Vishwas Seshadri, CFO Joseph Vazzano, SVP Brendan O’Malley and insider Madhav Vasanthavada collectively sold roughly $209,000 of ABEO shares at about $5.16 each. Each filing said the sales were made to cover tax-withholding obligations tied to vested equity awards, reducing the signal that executives were selling because of a change in their outlook. Abeona insider selling report
- Negative Sentiment: Pomerantz LLP announced an investigation into potential claims on behalf of Abeona investors. The announcement provides few details, but securities-law investigations can increase uncertainty and weigh on sentiment. Pomerantz investor alert
Institutional Investors Weigh In On Abeona Therapeutics
A number of institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in Abeona Therapeutics by 49.6% in the first quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 2,155 shares during the period. Rangeley Capital LLC raised its position 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 acquiring an additional 2,400 shares during the last quarter. Riverwater Partners LLC lifted its stake in shares of Abeona Therapeutics by 22.2% in the 4th 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 during the period. Simplify Asset Management Inc. lifted its stake in shares of Abeona Therapeutics by 1.5% in the 1st 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 during the period. Finally, Pale Fire Capital SE raised its position in shares of Abeona Therapeutics by 17.3% in the 2nd quarter. Pale Fire Capital SE now owns 81,945 shares of the biopharmaceutical company's stock valued at $506,000 after acquiring an additional 12,100 shares during the period. 80.56% of the stock is owned by institutional investors.
About Abeona Therapeutics
(
Get Free Report)
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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