Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Expected to Post Earnings of -$0.40 Per Share

Wall Street brokerages expect Adverum Biotechnologies, Inc. (NASDAQ:ADVM) to report earnings of ($0.40) per share for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Adverum Biotechnologies’ earnings. The highest EPS estimate is ($0.32) and the lowest is ($0.46). Adverum Biotechnologies reported earnings of ($0.31) per share in the same quarter last year, which suggests a negative year over year growth rate of 29%. The firm is expected to report its next quarterly earnings results on Thursday, November 4th.

On average, analysts expect that Adverum Biotechnologies will report full-year earnings of ($1.54) per share for the current financial year, with EPS estimates ranging from ($1.71) to ($1.24). For the next financial year, analysts anticipate that the firm will report earnings of ($1.47) per share, with EPS estimates ranging from ($1.75) to ($1.15). Zacks’ EPS calculations are an average based on a survey of research analysts that cover Adverum Biotechnologies.

Adverum Biotechnologies (NASDAQ:ADVM) last posted its quarterly earnings data on Wednesday, August 4th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.07).

A number of equities research analysts have commented on ADVM shares. SVB Leerink decreased their target price on shares of Adverum Biotechnologies from $5.00 to $2.00 and set a “market perform” rating on the stock in a research note on Friday, July 23rd. Zacks Investment Research cut shares of Adverum Biotechnologies from a “buy” rating to a “hold” rating in a research note on Friday, August 6th. Chardan Capital reduced their price objective on shares of Adverum Biotechnologies from $5.00 to $3.00 and set a “neutral” rating on the stock in a research report on Friday, July 23rd. The Goldman Sachs Group cut shares of Adverum Biotechnologies from a “buy” rating to a “neutral” rating in a research report on Friday, July 23rd. Finally, Cantor Fitzgerald cut shares of Adverum Biotechnologies from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $3.00 in a research report on Friday, July 23rd. Eleven equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.97.

NASDAQ ADVM remained flat at $$2.17 on Friday. 17,868 shares of the company’s stock were exchanged, compared to its average volume of 1,901,456. Adverum Biotechnologies has a 12 month low of $2.07 and a 12 month high of $14.79. The firm has a market cap of $212.93 million, a price-to-earnings ratio of -1.51 and a beta of 1.15. The firm’s 50 day moving average price is $2.56 and its 200-day moving average price is $5.22.

A number of large investors have recently modified their holdings of ADVM. Meeder Asset Management Inc. purchased a new stake in Adverum Biotechnologies in the 1st quarter worth approximately $35,000. BNP Paribas Arbitrage SA increased its stake in shares of Adverum Biotechnologies by 34.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 15,146 shares of the biotechnology company’s stock worth $149,000 after acquiring an additional 3,850 shares during the last quarter. Swiss National Bank increased its stake in shares of Adverum Biotechnologies by 3.6% in the 1st quarter. Swiss National Bank now owns 133,700 shares of the biotechnology company’s stock worth $1,318,000 after acquiring an additional 4,600 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Adverum Biotechnologies by 36.3% in the 1st quarter. SG Americas Securities LLC now owns 20,591 shares of the biotechnology company’s stock worth $203,000 after acquiring an additional 5,489 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Adverum Biotechnologies by 0.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 616,913 shares of the biotechnology company’s stock worth $2,160,000 after acquiring an additional 5,805 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Adverum Biotechnologies Company Profile

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.

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Earnings History and Estimates for Adverum Biotechnologies (NASDAQ:ADVM)

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