Sabby Management LLC bought a new position in Adverum Biotechnologies Inc (NASDAQ:ADVM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 300,000 shares of the biotechnology company’s stock, valued at approximately $1,050,000. Sabby Management LLC owned 0.57% of Adverum Biotechnologies at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of ADVM. Jane Street Group LLC acquired a new stake in Adverum Biotechnologies in the third quarter worth $108,000. BlueCrest Capital Management Ltd acquired a new stake in Adverum Biotechnologies in the fourth quarter worth $111,000. Citadel Advisors LLC increased its position in Adverum Biotechnologies by 365.1% in the fourth quarter. Citadel Advisors LLC now owns 47,189 shares of the biotechnology company’s stock worth $165,000 after buying an additional 37,042 shares during the period. Raymond James & Associates acquired a new stake in Adverum Biotechnologies in the fourth quarter worth $172,000. Finally, Spark Investment Management LLC increased its holdings in shares of Adverum Biotechnologies by 64.2% during the fourth quarter. Spark Investment Management LLC now owns 66,821 shares of the biotechnology company’s stock valued at $233,000 after purchasing an additional 26,121 shares during the period. 36.69% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on ADVM. Zacks Investment Research raised Adverum Biotechnologies from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Piper Jaffray Companies began coverage on Adverum Biotechnologies in a report on Thursday, February 15th. They set an “overweight” rating and a $12.00 price target on the stock. BidaskClub lowered Adverum Biotechnologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 10th. ValuEngine raised Adverum Biotechnologies from a “strong sell” rating to a “sell” rating in a report on Thursday, January 25th. Finally, Chardan Capital reissued a “hold” rating on shares of Adverum Biotechnologies in a report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $7.31.
Adverum Biotechnologies Inc (NASDAQ ADVM) opened at $6.51 on Tuesday. The stock has a market capitalization of $377.33, a PE ratio of -5.08 and a beta of 3.63. Adverum Biotechnologies Inc has a fifty-two week low of $2.40 and a fifty-two week high of $8.59.
Adverum Biotechnologies (NASDAQ:ADVM) last released its earnings results on Tuesday, March 6th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.03. The firm had revenue of $0.46 million for the quarter. Adverum Biotechnologies had a negative return on equity of 29.61% and a negative net margin of 3,036.61%. research analysts predict that Adverum Biotechnologies Inc will post -1.31 EPS for the current fiscal year.
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Adverum Biotechnologies Company Profile
Adverum Biotechnologies, Inc is a clinical-stage gene therapy company targeting unmet medical needs in serious rare and ocular diseases. Adverum has a robust pipeline that includes product candidates designed to treat rare diseases alpha-1 antitrypsin (A1AT) deficiency and hereditary angioedema (HAE) as well as wet age-related macular degeneration (wAMD).
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