Sell or Hold? Abeona Therapeutics Inc. (NASDAQ:ABEO)

Abeona Therapeutics Inc. (NASDAQ:ABEO) is trying to recover after a fall at the opening. Will it hold or will the fall continue?

Market Action

ABEO is trading at $1.52 down 1.9355 %. So far more than 187K shares have exchanged hands.

Abeona Therapeutics Hires Research & Clinical Development’s Head

ABEO announced the appointment of Vishwas Seshadri as Senior Vice President, Head of Research & Clinical Development, effective June 1, 2021

Prior to this, Dr. Seshadri was working with Bristol-Myers Squibb (NYSE:BMY) subsidiary Celgene Corporation

Commenting on the appointment, Michael Amoroso, CEO of Abeona said, “Vish has significant experience in both biotech and pharma, working as a product lead with clinical teams across early- and late-stage development, from ‘first patient in’ all the way through successful commercial launches. He knows the trade-off decisions and discipline necessary for evidence-based drug development.”
In another announcement, ABEO stated that its 1Q 2021 earnings results call to be held on May 25 at 8:30 AM Eastern Time.

Trader Notes

ABEO is currently trading below both its 50 and 200 days moving averages. The stock is down 3.23%. Potential pivot points to keep an eye on are 1.6026 and 1.6552 above, and 1.4248 and 1.4774 below. If ABEO goes below 1.50 that would be critical for the stock.

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