Adverum Biotechnologies Inc (ADVM) Receives $5.13 Consensus PT from Brokerages

Share on StockTwits

Adverum Biotechnologies Inc (NASDAQ:ADVM) has earned a consensus recommendation of “Hold” from the eight research firms that are presently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $5.50.

ADVM has been the subject of several recent analyst reports. Cantor Fitzgerald set a $12.00 target price on Adverum Biotechnologies and gave the company a “buy” rating in a report on Wednesday, October 3rd. Piper Jaffray Companies set a $8.00 target price on Adverum Biotechnologies and gave the company a “buy” rating in a report on Friday, November 2nd. Chardan Capital reaffirmed a “hold” rating and issued a $4.50 target price on shares of Adverum Biotechnologies in a report on Friday, November 2nd. Raymond James lowered Adverum Biotechnologies from an “outperform” rating to a “market perform” rating in a report on Friday, November 2nd. Finally, SunTrust Banks lowered Adverum Biotechnologies from a “buy” rating to a “hold” rating in a report on Friday, November 2nd.

A number of hedge funds and other institutional investors have recently made changes to their positions in ADVM. Rhumbline Advisers bought a new position in Adverum Biotechnologies during the second quarter valued at $292,000. Bank of New York Mellon Corp grew its holdings in Adverum Biotechnologies by 259.6% during the second quarter. Bank of New York Mellon Corp now owns 186,599 shares of the biotechnology company’s stock valued at $989,000 after purchasing an additional 134,709 shares during the period. Schwab Charles Investment Management Inc. bought a new position in Adverum Biotechnologies during the second quarter valued at $603,000. BlackRock Inc. grew its holdings in Adverum Biotechnologies by 377.4% during the second quarter. BlackRock Inc. now owns 3,307,449 shares of the biotechnology company’s stock valued at $17,528,000 after purchasing an additional 2,614,657 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Adverum Biotechnologies by 36.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,606,407 shares of the biotechnology company’s stock valued at $8,514,000 after purchasing an additional 427,215 shares during the period. 54.93% of the stock is owned by institutional investors and hedge funds.

Shares of ADVM stock traded up $0.07 during trading on Friday, hitting $3.59. The company’s stock had a trading volume of 110,400 shares, compared to its average volume of 197,662. The firm has a market cap of $220.67 million, a PE ratio of -2.76 and a beta of 3.31. Adverum Biotechnologies has a 52 week low of $2.62 and a 52 week high of $8.59.

Adverum Biotechnologies (NASDAQ:ADVM) last released its earnings results on Thursday, November 8th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.04). The business had revenue of $0.83 million during the quarter, compared to the consensus estimate of $0.27 million. Adverum Biotechnologies had a negative net margin of 3,582.48% and a negative return on equity of 30.38%. On average, equities research analysts anticipate that Adverum Biotechnologies will post -1.15 earnings per share for the current year.

About Adverum Biotechnologies

Adverum Biotechnologies, Inc, a clinical-stage gene therapy company, engages in developing gene therapy product candidates that target serious rare and ocular diseases. It leverages its adeno-associated virus (AAV)-based directed evolution platform to develop products. The company's pipeline of product candidates include ADVM-043 to treat alpha-1 antitrypsin deficiency, which is in Phase I/II clinical trial; and ADVM-053 for hereditary angioedema disease, which is in preclinical stage; as well as ADVM-022 and ADVM-032 for wet age-related macular degeneration disease, which are in preclinical stage.

Recommended Story: Trading Strategy Examples and Plans

Analyst Recommendations for Adverum Biotechnologies (NASDAQ:ADVM)

Receive News & Ratings for Adverum Biotechnologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adverum Biotechnologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply