Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Given Consensus Rating of “Hold” by Analysts

Shares of Adverum Biotechnologies, Inc. (NASDAQ:ADVM – Get Rating) have earned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $4.50.

Several research analysts recently issued reports on the company. StockNews.com assumed coverage on Adverum Biotechnologies in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Chardan Capital reaffirmed a “neutral” rating on shares of Adverum Biotechnologies in a research report on Monday, April 11th.

In other Adverum Biotechnologies news, Director Dawn Svoronos purchased 30,000 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The shares were acquired at an average cost of $0.85 per share, for a total transaction of $25,500.00. Following the completion of the acquisition, the director now owns 50,000 shares of the company’s stock, valued at approximately $42,500. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Laurent Fischer bought 25,000 shares of the stock in a transaction on Wednesday, April 20th. The stock was 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 owns 762,462 shares of the company’s stock, valued at $846,332.82. The disclosure for this purchase can be found here. Insiders have purchased 116,925 shares of company stock worth $111,945 over the last quarter. 12.40% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the business. UBS Group AG raised its stake in shares of Adverum Biotechnologies by 0.7% in the third quarter. UBS Group AG now owns 3,143,669 shares of the biotechnology company’s stock valued at $6,822,000 after buying an additional 22,343 shares during the period. Two Sigma Investments LP raised its stake in shares of Adverum Biotechnologies by 23.0% during the 3rd quarter. Two Sigma Investments LP now owns 1,870,697 shares of the biotechnology company’s stock valued at $4,059,000 after purchasing an additional 349,963 shares during the period. Two Sigma Advisers LP raised its stake in shares of Adverum Biotechnologies by 81.2% during the 3rd quarter. Two Sigma Advisers LP now owns 1,766,900 shares of the biotechnology company’s stock valued at $3,834,000 after purchasing an additional 791,700 shares during the period. Geode Capital Management LLC raised its stake in shares of Adverum Biotechnologies by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 1,577,526 shares of the biotechnology company’s stock valued at $2,776,000 after purchasing an additional 43,597 shares during the period. Finally, Morgan Stanley raised its stake in shares of Adverum Biotechnologies by 51.9% during the 3rd quarter. Morgan Stanley now owns 1,455,644 shares of the biotechnology company’s stock valued at $3,158,000 after purchasing an additional 497,454 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Shares of Adverum Biotechnologies stock opened at $0.95 on Tuesday. Adverum Biotechnologies has a 52 week low of $0.80 and a 52 week high of $3.86. The stock has a 50 day moving average price of $1.03 and a two-hundred day moving average price of $1.37. The stock has a market capitalization of $94.03 million, a PE ratio of -0.61 and a beta of 1.31.

Adverum Biotechnologies (NASDAQ:ADVM – Get Rating) last announced its quarterly earnings data on Thursday, May 12th. The biotechnology company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.04). As a group, analysts expect that Adverum Biotechnologies will post -1.57 earnings per share for the current fiscal 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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