Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Receives Average Recommendation of “Hold” from Brokerages

Adverum Biotechnologies, Inc. (NASDAQ:ADVM – Get Rating) has received a consensus rating of “Hold” from the nine analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $5.00.

ADVM has been the topic of several recent research reports. Zacks Investment Research raised Adverum Biotechnologies from a “hold” rating to a “buy” rating and set a $2.00 price objective on the stock in a report on Monday, January 3rd. Chardan Capital reaffirmed a “neutral” rating on shares of Adverum Biotechnologies in a report on Monday, April 11th. Finally, StockNews.com initiated coverage on Adverum Biotechnologies in a report on Thursday, March 31st. They set a “sell” rating on the stock.

In other Adverum Biotechnologies news, CEO Laurent Fischer acquired 25,000 shares of the stock in a transaction dated Wednesday, April 20th. The stock was purchased at an average cost of $1.11 per share, with a total value of $27,750.00. Following the transaction, the chief executive officer now owns 762,462 shares in the company, valued at approximately $846,332.82. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 4.20% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC increased its position in Adverum Biotechnologies by 26.2% in the 3rd quarter. Squarepoint Ops LLC now owns 33,825 shares of the biotechnology company’s stock valued at $73,000 after buying an additional 7,018 shares in the last quarter. Marquette Asset Management LLC boosted its stake in Adverum Biotechnologies by 18.4% during the 4th quarter. Marquette Asset Management LLC now owns 54,000 shares of the biotechnology company’s stock valued at $95,000 after purchasing an additional 8,397 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Adverum Biotechnologies in the 2nd quarter worth approximately $40,000. Invesco Ltd. boosted its stake in shares of Adverum Biotechnologies by 54.7% in the 2nd quarter. Invesco Ltd. now owns 39,613 shares of the biotechnology company’s stock worth $138,000 after buying an additional 14,014 shares during the last quarter. Finally, Jump Financial LLC boosted its stake in shares of Adverum Biotechnologies by 117.4% in the 3rd quarter. Jump Financial LLC now owns 26,600 shares of the biotechnology company’s stock worth $58,000 after buying an additional 14,362 shares during the last quarter. 69.97% of the stock is owned by institutional investors and hedge funds.

Shares of ADVM stock traded up $0.04 during trading hours on Monday, reaching $1.18. The company’s stock had a trading volume of 10,491 shares, compared to its average volume of 1,159,313. Adverum Biotechnologies has a fifty-two week low of $1.10 and a fifty-two week high of $10.33. The company has a market capitalization of $116.53 million, a price-to-earnings ratio of -0.80 and a beta of 1.23. The firm’s 50 day simple moving average is $1.30 and its 200-day simple moving average is $1.66.

Adverum Biotechnologies (NASDAQ:ADVM – Get Rating) last released its quarterly earnings data on Tuesday, March 29th. The biotechnology company reported ($0.35) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.07. On average, research analysts expect that Adverum Biotechnologies will post -1.49 EPS for the current year.

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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