-$0.28 Earnings Per Share Expected for Adverum Biotechnologies Inc (ADVM) This Quarter

Equities research analysts expect Adverum Biotechnologies Inc (NASDAQ:ADVM) to announce earnings of ($0.28) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Adverum Biotechnologies’ earnings, with estimates ranging from ($0.30) to ($0.26). Adverum Biotechnologies posted earnings per share of ($0.30) in the same quarter last year, which suggests a positive year over year growth rate of 6.7%. The company is scheduled to announce its next quarterly earnings report on Wednesday, May 8th.

On average, analysts expect that Adverum Biotechnologies will report full year earnings of ($1.15) per share for the current year, with EPS estimates ranging from ($1.25) to ($1.07). For the next year, analysts anticipate that the company will post earnings of ($1.12) per share, with EPS estimates ranging from ($1.16) to ($1.05). Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Adverum Biotechnologies.

Adverum Biotechnologies (NASDAQ:ADVM) last announced its earnings results on Wednesday, March 6th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04. Adverum Biotechnologies had a negative return on equity of 30.18% and a negative net margin of 4,505.40%. The firm had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.39 million.

A number of research firms have weighed in on ADVM. BidaskClub raised Adverum Biotechnologies from a “hold” rating to a “buy” rating in a research report on Wednesday, March 6th. Zacks Investment Research cut Adverum Biotechnologies from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Six research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.55.

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its stake in Adverum Biotechnologies by 19.7% in the 4th quarter. Geode Capital Management LLC now owns 698,600 shares of the biotechnology company’s stock valued at $2,200,000 after purchasing an additional 115,171 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Adverum Biotechnologies by 7.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,768,246 shares of the biotechnology company’s stock worth $5,570,000 after purchasing an additional 126,514 shares during the last quarter. 683 Capital Management LLC boosted its holdings in shares of Adverum Biotechnologies by 1,169.6% during the fourth quarter. 683 Capital Management LLC now owns 362,386 shares of the biotechnology company’s stock worth $1,142,000 after purchasing an additional 333,842 shares during the last quarter. RTW Investments LP boosted its holdings in 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 acquiring an additional 6,072,019 shares during the last quarter. Finally, Perceptive Advisors LLC acquired a new position in Adverum Biotechnologies in the fourth quarter valued at $960,000. 59.51% of the stock is owned by institutional investors and hedge funds.

Adverum Biotechnologies stock traded up $0.26 during mid-day trading on Wednesday, reaching $5.81. 5,463 shares of the company were exchanged, compared to its average volume of 526,554. Adverum Biotechnologies has a twelve month low of $2.62 and a twelve month high of $7.72. The stock has a market capitalization of $347.92 million, a price-to-earnings ratio of -4.92 and a beta of 3.18.

Adverum Biotechnologies Company Profile

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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