Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Director Purchases $25,500.00 in Stock

Adverum Biotechnologies, Inc. (NASDAQ:ADVM – Get Rating) Director Dawn Svoronos acquired 30,000 shares of the stock in a transaction on Monday, May 16th. The stock was bought at an average price of $0.85 per share, with a total value of $25,500.00. Following the completion of the acquisition, the director now directly owns 50,000 shares of the company’s stock, valued at $42,500. The purchase was disclosed in a filing with the SEC, which is available at this link.

Shares of Adverum Biotechnologies stock opened at $0.83 on Thursday. The company has a fifty day moving average of $1.18 and a 200 day moving average of $1.54. Adverum Biotechnologies, Inc. has a fifty-two week low of $0.80 and a fifty-two week high of $3.86.

Adverum Biotechnologies (NASDAQ:ADVM – Get Rating) last issued its earnings results on Thursday, May 12th. The biotechnology company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.07). On average, sell-side analysts forecast that Adverum Biotechnologies, Inc. will post -1.56 EPS for the current year.

Several research firms have recently issued reports on ADVM. StockNews.com began coverage on shares of Adverum Biotechnologies in a report on Thursday, March 31st. They set a “sell” rating for the company. Chardan Capital reaffirmed a “neutral” rating on shares of Adverum Biotechnologies in a research report on Monday, April 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.20.

Institutional investors have recently modified their holdings of the stock. RTW Investments LP lifted its stake in Adverum Biotechnologies by 1.7% in the 3rd quarter. RTW Investments LP now owns 7,483,757 shares of the biotechnology company’s stock worth $16,240,000 after purchasing an additional 125,840 shares in the last quarter. UBS Group AG lifted its stake in Adverum Biotechnologies by 0.7% in the 3rd quarter. UBS Group AG now owns 3,143,669 shares of the biotechnology company’s stock worth $6,822,000 after purchasing an additional 22,343 shares in the last quarter. Two Sigma Investments LP lifted its stake in Adverum Biotechnologies by 23.0% in the 3rd quarter. Two Sigma Investments LP now owns 1,870,697 shares of the biotechnology company’s stock worth $4,059,000 after purchasing an additional 349,963 shares in the last quarter. Two Sigma Advisers LP lifted its stake in Adverum Biotechnologies by 81.2% in the 3rd quarter. Two Sigma Advisers LP now owns 1,766,900 shares of the biotechnology company’s stock worth $3,834,000 after purchasing an additional 791,700 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Adverum Biotechnologies by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 1,577,526 shares of the biotechnology company’s stock worth $2,776,000 after purchasing an additional 43,597 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

About Adverum Biotechnologies (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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