Adverum Biotechnologies Inc (NASDAQ:ADVM) has been assigned an average rating of “Hold” from the six analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $8.67.
ADVM has been the subject of a number of research analyst reports. ValuEngine raised shares of Adverum Biotechnologies from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Zacks Investment Research raised shares of Adverum Biotechnologies from a “hold” rating to a “buy” rating and set a $6.75 target price for the company in a research report on Tuesday, May 15th. Piper Jaffray Companies initiated coverage on shares of Adverum Biotechnologies in a research report on Friday, May 18th. They issued a “buy” rating and a $12.00 target price for the company. BidaskClub downgraded shares of Adverum Biotechnologies from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 12th. Finally, Chardan Capital reaffirmed a “hold” rating and issued a $8.00 target price on shares of Adverum Biotechnologies in a research report on Thursday.
A number of large investors have recently bought and sold shares of ADVM. Creative Planning grew its position in shares of Adverum Biotechnologies by 76.8% during the 2nd quarter. Creative Planning now owns 22,870 shares of the biotechnology company’s stock valued at $121,000 after acquiring an additional 9,937 shares during the period. Raymond James & Associates bought a new stake in shares of Adverum Biotechnologies during the 4th quarter valued at $172,000. Trexquant Investment LP bought a new stake in shares of Adverum Biotechnologies during the 1st quarter valued at $184,000. Monarch Partners Asset Management LLC bought a new stake in shares of Adverum Biotechnologies during the 1st quarter valued at $214,000. Finally, Two Sigma Advisers LP bought a new stake in shares of Adverum Biotechnologies during the 4th quarter valued at $236,000. 55.49% of the stock is owned by institutional investors and hedge funds.
NASDAQ ADVM traded up $0.15 during mid-day trading on Tuesday, reaching $5.25. The stock had a trading volume of 530,894 shares, compared to its average volume of 493,799. Adverum Biotechnologies has a 1 year low of $2.40 and a 1 year high of $8.59.
Adverum Biotechnologies (NASDAQ:ADVM) last announced its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.01. Adverum Biotechnologies had a negative net margin of 3,957.63% and a negative return on equity of 30.61%. The company had revenue of $0.49 million during the quarter, compared to analyst estimates of $0.40 million. sell-side analysts expect that Adverum Biotechnologies will post -1.25 earnings per share for the current fiscal year.
Adverum Biotechnologies Company Profile
Adverum Biotechnologies, Inc, a clinical-stage gene therapy company, engages in developing gene therapy product candidates that target serious rare and ocular diseases. It leverages its adeno-associated virus (AAV)-based directed evolution platform to develop products. The company's pipeline of product candidates include ADVM-043 to treat alpha-1 antitrypsin deficiency, which is in Phase I/II clinical trial; and ADVM-053 for hereditary angioedema disease, which is in preclinical stage; as well as ADVM-022 and ADVM-032 for wet age-related macular degeneration disease, which are in preclinical stage.
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