Adverum Biotechnologies, Inc. (NASDAQ:ADVM – Get Rating) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.00 and traded as low as $0.64. Adverum Biotechnologies shares last traded at $0.65, with a volume of 104,152 shares trading hands.
Analysts Set New Price Targets
Several analysts have issued reports on ADVM shares. StockNews.com started coverage on Adverum Biotechnologies in a research note on Wednesday, October 12th. They issued a “sell” rating on the stock. Royal Bank of Canada decreased their price objective on Adverum Biotechnologies from $5.00 to $3.00 and set a “sector perform” rating on the stock in a research note on Friday, November 11th. Finally, Chardan Capital decreased their price objective on Adverum Biotechnologies from $2.50 to $2.00 and set a “neutral” rating on the stock in a research note on Friday, November 11th.
Adverum Biotechnologies Trading Down 1.4 %
The business has a fifty day moving average price of $0.65 and a 200-day moving average price of $1.00. The stock has a market capitalization of $64.82 million, a PE ratio of -0.41 and a beta of 1.07.
Institutional Trading of Adverum Biotechnologies
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake in Adverum Biotechnologies by 2.3% during the 3rd quarter. Renaissance Technologies LLC now owns 1,118,441 shares of the biotechnology company’s stock valued at $1,063,000 after purchasing an additional 25,400 shares during the last quarter. Millennium Management LLC purchased a new stake in Adverum Biotechnologies during the 2nd quarter valued at $1,246,000. Marshall Wace LLP purchased a new stake in Adverum Biotechnologies during the 3rd quarter valued at $481,000. Monaco Asset Management SAM purchased a new stake in Adverum Biotechnologies during the 2nd quarter valued at $536,000. Finally, Worth Venture Partners LLC boosted its stake in Adverum Biotechnologies by 20.0% during the 3rd quarter. Worth Venture Partners LLC now owns 298,560 shares of the biotechnology company’s stock valued at $284,000 after purchasing an additional 49,760 shares during the last quarter. Hedge funds and other institutional investors own 63.68% of the company’s stock.
About Adverum Biotechnologies
Adverum Biotechnologies, Inc is a clinical-stage gene therapy company that engages in the development of gene therapies for ocular and rare diseases. The company was founded by Mark S. Blumenkranz, Thomas W. Chalberg, Jr., Mitchell H. Finer, and Steven Daniel Schwartz on July 17, 2006 and is headquartered in Redwood City, CA.
- Get a free copy of the StockNews.com research report on Adverum Biotechnologies (ADVM)
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