Insider Buying: Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Insider Acquires 21,925 Shares of Stock

Adverum Biotechnologies, Inc. (NASDAQ:ADVMGet Rating) insider Peter Soparkar acquired 21,925 shares of Adverum Biotechnologies stock in a transaction that occurred on Tuesday, April 19th. The shares were purchased at an average cost of $1.14 per share, with a total value of $24,994.50. Following the purchase, the insider now owns 280,556 shares of the company’s stock, valued at approximately $319,833.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NASDAQ ADVM traded up $0.02 on Wednesday, reaching $1.14. 638,140 shares of the stock were exchanged, compared to its average volume of 1,168,514. Adverum Biotechnologies, Inc. has a one year low of $1.10 and a one year high of $10.33. The firm has a market capitalization of $112.58 million, a PE ratio of -0.76 and a beta of 1.23. The company’s 50-day simple moving average is $1.32 and its two-hundred day simple moving average is $1.68.

Adverum Biotechnologies (NASDAQ:ADVMGet Rating) last released its quarterly earnings data on Tuesday, March 29th. The biotechnology company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.07. As a group, research analysts predict that Adverum Biotechnologies, Inc. will post -1.49 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC boosted its stake in Adverum Biotechnologies by 26.2% during the third quarter. Squarepoint Ops LLC now owns 33,825 shares of the biotechnology company’s stock worth $73,000 after buying an additional 7,018 shares during the period. Marquette Asset Management LLC raised its holdings in shares of Adverum Biotechnologies by 18.4% in the fourth quarter. Marquette Asset Management LLC now owns 54,000 shares of the biotechnology company’s stock valued at $95,000 after acquiring an additional 8,397 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Adverum Biotechnologies in the second quarter valued at about $40,000. Invesco Ltd. raised its holdings in shares of Adverum Biotechnologies by 54.7% in the second quarter. Invesco Ltd. now owns 39,613 shares of the biotechnology company’s stock valued at $138,000 after acquiring an additional 14,014 shares in the last quarter. Finally, Jump Financial LLC raised its holdings in Adverum Biotechnologies by 117.4% in the third quarter. Jump Financial LLC now owns 26,600 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 14,362 shares in the last quarter. 69.97% of the stock is owned by institutional investors.

A number of equities analysts have commented on ADVM shares. StockNews.com started coverage on shares of Adverum Biotechnologies in a research note on Thursday, March 31st. They issued a “sell” rating for the company. Zacks Investment Research raised shares of Adverum Biotechnologies from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a research note on Monday, January 3rd. Finally, Chardan Capital reiterated a “neutral” rating on shares of Adverum Biotechnologies in a report on Monday, April 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Adverum Biotechnologies has a consensus rating of “Hold” and an average target price of $4.17.

Adverum Biotechnologies Company Profile (Get Rating)

Adverum Biotechnologies, Inc, a clinical-stage gene therapy company, develops gene therapy product candidates to treat ocular and rare diseases. Its lead product candidate is ADVM-022, a single intravitreal injection gene therapy candidate used for the treatment of patients with chronic retinal, including wet age-related macular degeneration and diabetic macular edema.

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