Insider Buying: Adverum Biotechnologies, Inc. (NASDAQ:ADVM) CEO Buys 25,000 Shares of Stock

Adverum Biotechnologies, Inc. (NASDAQ:ADVM – Get Rating) CEO Laurent Fischer acquired 25,000 shares of Adverum Biotechnologies stock in a transaction on Wednesday, April 20th. The shares were purchased at an average price of $1.11 per share, for a total transaction of $27,750.00. Following the completion of the purchase, the chief executive officer now directly owns 762,462 shares of the company’s stock, valued at $846,332.82. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of ADVM stock traded up $0.01 on Friday, reaching $1.14. The company had a trading volume of 504,922 shares, compared to its average volume of 1,159,273. The stock has a market capitalization of $112.58 million, a PE ratio of -0.76 and a beta of 1.23. Adverum Biotechnologies, Inc. has a one year low of $1.10 and a one year high of $10.33. The business’s 50-day moving average is $1.30 and its 200 day moving average is $1.67.

Adverum Biotechnologies (NASDAQ:ADVM – Get Rating) last posted its earnings results on Tuesday, March 29th. The biotechnology company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.07. On average, sell-side analysts forecast that Adverum Biotechnologies, Inc. will post -1.49 earnings per share for the current year.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY bought a new position in shares of Adverum Biotechnologies during the first quarter valued at $108,000. OLD Mission Capital LLC bought a new position in shares of Adverum Biotechnologies during the third quarter valued at $164,000. Bank of America Corp DE raised its stake in shares of Adverum Biotechnologies by 67.2% during the second quarter. Bank of America Corp DE now owns 312,951 shares of the biotechnology company’s stock valued at $1,096,000 after acquiring an additional 125,768 shares during the last quarter. Millennium Management LLC bought a new position in shares of Adverum Biotechnologies during the second quarter valued at $40,000. Finally, Invesco Ltd. raised its stake in shares of Adverum Biotechnologies by 54.7% during 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 during the last quarter. Hedge funds and other institutional investors own 69.97% of the company’s stock.

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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