Adverum Biotechnologies Inc (NASDAQ:ADVM) shares saw unusually-strong trading volume on Monday . Approximately 1,238,644 shares were traded during trading, an increase of 226% from the previous session’s volume of 380,303 shares.The stock last traded at $5.69 and had previously closed at $5.10.
Several equities analysts have commented on ADVM shares. BidaskClub raised shares of Adverum Biotechnologies from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 21st. Zacks Investment Research downgraded shares of Adverum Biotechnologies from a “buy” rating to a “hold” rating in a research report on Wednesday, January 9th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Adverum Biotechnologies has an average rating of “Hold” and a consensus price target of $6.55.
The stock has a market cap of $375.41 million, a PE ratio of -4.79 and a beta of 3.18.
Adverum Biotechnologies (NASDAQ:ADVM) last issued its quarterly earnings results on Wednesday, March 6th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.04. The company had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.39 million. Adverum Biotechnologies had a negative return on equity of 30.18% and a negative net margin of 4,505.40%. Research analysts forecast that Adverum Biotechnologies Inc will post -1.15 EPS for the current fiscal year.
Several large investors have recently modified their holdings of the company. RTW Investments LP lifted its stake in shares of Adverum Biotechnologies by 3,285.4% in the fourth quarter. RTW Investments LP now owns 6,256,840 shares of the biotechnology company’s stock valued at $19,709,000 after buying an additional 6,072,019 shares during the period. Perceptive Advisors LLC bought a new stake in shares of Adverum Biotechnologies in the fourth quarter valued at about $960,000. JPMorgan Chase & Co. lifted its stake in shares of Adverum Biotechnologies by 8.4% in the third quarter. JPMorgan Chase & Co. now owns 2,767,090 shares of the biotechnology company’s stock valued at $16,740,000 after buying an additional 214,770 shares during the period. Virtu Financial LLC bought a new stake in shares of Adverum Biotechnologies in the fourth quarter valued at about $66,000. Finally, WS Management Lllp lifted its stake in shares of Adverum Biotechnologies by 11.8% in the fourth quarter. WS Management Lllp now owns 1,285,400 shares of the biotechnology company’s stock valued at $4,049,000 after buying an additional 135,400 shares during the period. 59.51% of the stock is currently owned by institutional investors.
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Adverum Biotechnologies Company Profile (NASDAQ:ADVM)
Adverum Biotechnologies, Inc, a clinical-stage gene therapy company, engages in developing gene therapy product candidates to treat ocular and rare diseases. Its pipeline of product candidates includes ADVM-022, an adeno- associated virus (AAV). 7m8-aflibercept for the treatment of wet age-related macular degeneration; ADVM-043, an investigational gene therapy candidate for the treatment of alpha-1 antitrypsin deficiency; and ADVM-053, a preclinical gene therapy product candidate for the treatment of hereditary angioedema.
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