Shares of Adverum Biotechnologies Inc (NASDAQ:ADVM) have been given an average recommendation of “Hold” by the six research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $8.67.
ADVM has been the topic of a number of analyst reports. BidaskClub cut shares of Adverum Biotechnologies from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 12th. Zacks Investment Research upgraded shares of Adverum Biotechnologies from a “hold” rating to a “buy” rating and set a $6.75 target price on the stock in a research note on Tuesday, May 15th. ValuEngine upgraded shares of Adverum Biotechnologies from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Piper Jaffray Companies initiated coverage on shares of Adverum Biotechnologies in a research note on Friday, May 18th. They set a “buy” rating and a $12.00 target price on the stock. Finally, Chardan Capital restated a “hold” rating and set a $8.00 target price on shares of Adverum Biotechnologies in a research note on Thursday.
Shares of Adverum Biotechnologies traded up $0.15, reaching $5.25, during trading hours on Tuesday, according to Marketbeat.com. 530,894 shares of the stock traded hands, compared to its average volume of 493,799. Adverum Biotechnologies has a 52-week low of $2.40 and a 52-week high of $8.59.
Adverum Biotechnologies (NASDAQ:ADVM) last released its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.30) earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $0.40 million. equities analysts expect that Adverum Biotechnologies will post -1.25 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in ADVM. Renaissance Technologies LLC lifted its stake in Adverum Biotechnologies by 38.8% in the 4th quarter. Renaissance Technologies LLC now owns 2,554,677 shares of the biotechnology company’s stock worth $8,941,000 after purchasing an additional 714,207 shares in the last quarter. Deutsche Bank AG lifted its stake in Adverum Biotechnologies by 105.6% in the 4th quarter. Deutsche Bank AG now owns 383,330 shares of the biotechnology company’s stock worth $1,341,000 after purchasing an additional 196,885 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in Adverum Biotechnologies in the 4th quarter worth $341,000. Two Sigma Advisers LP purchased a new stake in Adverum Biotechnologies in the 4th quarter worth $236,000. Finally, Raymond James & Associates purchased a new stake in Adverum Biotechnologies in the 4th quarter worth $172,000. Institutional investors and hedge funds own 55.49% of the company’s stock.
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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