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

Abeona Therapeutics Inc (NASDAQ:ABEO) CEO Vishwas Seshadri sold 25,000 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $4.78, for a total transaction of $119,500.00. Following the transaction, the chief executive officer now directly owns 1,355,322 shares in the company, valued at approximately $6,478,439.16. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Abeona Therapeutics Price Performance

Shares of ABEO opened at $4.68 on Thursday. Abeona Therapeutics Inc has a 52 week low of $3.05 and a 52 week high of $8.45. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.31. The firm has a market cap of $227.14 million, a price-to-earnings ratio of -1.74 and a beta of 1.70. The stock has a 50 day moving average of $5.38 and a 200-day moving average of $5.79.

Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.19. As a group, analysts forecast that Abeona Therapeutics Inc will post -1.16 EPS for the current year.

Hedge Funds Weigh In On Abeona Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. bought a new stake in shares of Abeona Therapeutics in the 3rd quarter worth approximately $151,000. Citigroup Inc. lifted its stake in Abeona Therapeutics by 10.1% in the third quarter. Citigroup Inc. now owns 616,668 shares of the biopharmaceutical company’s stock valued at $3,897,000 after buying an additional 56,332 shares during the last quarter. Western Standard LLC boosted its holdings in shares of Abeona Therapeutics by 7.0% during the third quarter. Western Standard LLC now owns 1,698,097 shares of the biopharmaceutical company’s stock valued at $10,732,000 after acquiring an additional 110,998 shares during the period. Jane Street Group LLC acquired a new position in shares of Abeona Therapeutics during the third quarter valued at $84,000. Finally, XTX Topco Ltd bought a new position in shares of Abeona Therapeutics during the third quarter worth about $160,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Abeona Therapeutics in a report on Monday, March 24th. StockNews.com raised Abeona Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, March 24th. Finally, Oppenheimer assumed coverage on Abeona Therapeutics in a report on Wednesday, March 5th. They set an “outperform” rating and a $16.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Abeona Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $17.50.

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.