Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Receives $10.50 Average PT from Brokerages

Shares of Adverum Biotechnologies, Inc. (NASDAQ:ADVM) have received a consensus rating of “Hold” from the six ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $10.50.

A number of analysts have recently commented on the company. Truist Financial set a $5.00 price objective on Adverum Biotechnologies in a report on Friday, October 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adverum Biotechnologies in a research report on Wednesday, October 8th. Royal Bank Of Canada set a $4.00 price objective on Adverum Biotechnologies in a report on Tuesday, October 28th. Chardan Capital lowered Adverum Biotechnologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Finally, Wall Street Zen downgraded shares of Adverum Biotechnologies to a “strong sell” rating in a research report on Saturday, December 13th.

Insider Activity at Adverum Biotechnologies

In related news, COO Peter Soparkar acquired 50,000 shares of the business’s stock in a transaction on Friday, December 5th. The shares were bought at an average cost of $4.22 per share, with a total value of $211,000.00. Following the completion of the transaction, the chief operating officer directly owned 80,189 shares of the company’s stock, valued at $338,397.58. This trade represents a 165.62% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurent Fischer bought 117,614 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was bought at an average cost of $4.31 per share, with a total value of $506,916.34. Following the transaction, the chief executive officer directly owned 201,513 shares of the company’s stock, valued at approximately $868,521.03. This trade represents a 140.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have acquired 178,699 shares of company stock worth $764,917 and have sold 1,099,446 shares worth $4,605,740. Company insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On Adverum Biotechnologies

Several hedge funds and other institutional investors have recently bought and sold shares of ADVM. Invesco Ltd. purchased a new position in Adverum Biotechnologies in the 1st quarter worth approximately $218,000. Nuveen LLC purchased a new position in shares of Adverum Biotechnologies in the first quarter valued at $139,000. Pale Fire Capital SE boosted its stake in shares of Adverum Biotechnologies by 16.9% in the first quarter. Pale Fire Capital SE now owns 368,267 shares of the biotechnology company’s stock valued at $1,609,000 after purchasing an additional 53,113 shares during the period. AQR Capital Management LLC acquired a new stake in Adverum Biotechnologies during the 1st quarter valued at $148,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Adverum Biotechnologies during the 2nd quarter worth $45,000. 48.17% of the stock is owned by institutional investors and hedge funds.

Adverum Biotechnologies Price Performance

Shares of ADVM stock opened at $4.36 on Wednesday. The firm’s 50-day simple moving average is $4.28 and its 200-day simple moving average is $3.46. Adverum Biotechnologies has a 1-year low of $1.78 and a 1-year high of $6.12. The firm has a market cap of $96.26 million, a P/E ratio of -0.51 and a beta of 0.87.

Adverum Biotechnologies (NASDAQ:ADVM) last issued its quarterly earnings results on Wednesday, November 12th. The biotechnology company reported ($2.03) EPS for the quarter, missing the consensus estimate of ($1.80) by ($0.23). Analysts expect that Adverum Biotechnologies will post -4.92 earnings per share for the current fiscal year.

About Adverum Biotechnologies

Adverum Biotechnologies is a clinical-stage gene therapy company focused on the discovery, development and delivery of novel treatments for ocular and rare diseases. Utilizing adeno-associated virus (AAV)–based vectors, the company seeks to deliver long-lasting, one-time therapies designed to address underlying genetic causes of vision loss and other conditions. Its proprietary platform combines engineering of AAV capsids for targeted tissue tropism with optimized expression cassettes, aiming to improve safety and durability over current standards of care.

The company’s lead programs target retinal disorders, including wet age-related macular degeneration (wet AMD) and diabetic retinopathy, through intravitreal administration of AAV vectors expressing therapeutic proteins.