Marshall Wace LLP Boosts Holdings in Adverum Biotechnologies, Inc. (NASDAQ:ADVM)

Marshall Wace LLP lifted its stake in shares of Adverum Biotechnologies, Inc. (NASDAQ:ADVM) by 128.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,027 shares of the biotechnology company’s stock after buying an additional 55,130 shares during the quarter. Marshall Wace LLP owned about 0.47% of Adverum Biotechnologies worth $458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ADVM. Barclays PLC lifted its position in Adverum Biotechnologies by 11.3% during the 4th quarter. Barclays PLC now owns 39,887 shares of the biotechnology company’s stock valued at $186,000 after acquiring an additional 4,055 shares during the period. Renaissance Technologies LLC boosted its position in shares of Adverum Biotechnologies by 249.6% in the 4th quarter. Renaissance Technologies LLC now owns 129,605 shares of the biotechnology company’s stock worth $605,000 after purchasing an additional 92,533 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Adverum Biotechnologies by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 12,240 shares of the biotechnology company’s stock worth $57,000 after buying an additional 2,659 shares during the last quarter. Trexquant Investment LP increased its holdings in shares of Adverum Biotechnologies by 167.9% during the fourth quarter. Trexquant Investment LP now owns 95,997 shares of the biotechnology company’s stock valued at $448,000 after acquiring an additional 60,163 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Adverum Biotechnologies by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 442,490 shares of the biotechnology company’s stock valued at $2,067,000 after buying an additional 3,434 shares during the last quarter. 48.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ADVM shares. Chardan Capital lowered their price objective on shares of Adverum Biotechnologies from $40.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Adverum Biotechnologies in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada decreased their price objective on Adverum Biotechnologies from $10.00 to $5.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.60.

Adverum Biotechnologies Trading Up 4.8 %

Shares of NASDAQ:ADVM opened at $3.49 on Friday. The company has a market capitalization of $72.91 million, a PE ratio of -0.58 and a beta of 1.10. The business has a 50 day moving average of $3.99 and a two-hundred day moving average of $5.05. Adverum Biotechnologies, Inc. has a 12-month low of $2.64 and a 12-month high of $10.84.

Adverum Biotechnologies (NASDAQ:ADVM) last released its quarterly earnings data on Tuesday, April 15th. The biotechnology company reported ($1.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.34) by ($0.62). Equities research analysts predict that Adverum Biotechnologies, Inc. will post -4.92 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Braden Michael Leonard purchased 62,341 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was purchased at an average cost of $4.69 per share, for a total transaction of $292,379.29. Following the completion of the transaction, the insider now owns 2,667,161 shares of the company’s stock, valued at $12,508,985.09. This trade represents a 2.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders acquired 198,123 shares of company stock worth $863,040 over the last three months. 4.20% of the stock is currently owned by corporate insiders.

Adverum Biotechnologies Company Profile

Adverum Biotechnologies, Inc, a clinical-stage company, develops gene therapy product candidates to treat ocular diseases. Its lead product candidate is ixoberogene soroparvovec (ADVM-022), a single intravitreal injection gene therapy candidate used for the treatment of patients with wet age-related macular degeneration and diabetic macular edema which is in phase 2 clinical trials.