D. E. Shaw & Co. Inc. lowered its position in Adverum Biotechnologies Inc (NASDAQ:ADVM) by 59.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,600 shares of the biotechnology company’s stock after selling 39,251 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Adverum Biotechnologies were worth $84,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Teachers Advisors LLC increased its position in shares of Adverum Biotechnologies by 12.7% during the third quarter. Teachers Advisors LLC now owns 117,797 shares of the biotechnology company’s stock valued at $713,000 after acquiring an additional 13,287 shares during the last quarter. Algert Global LLC increased its position in Adverum Biotechnologies by 18.4% in the fourth quarter. Algert Global LLC now owns 94,113 shares of the biotechnology company’s stock worth $296,000 after buying an additional 14,653 shares during the last quarter. MetLife Investment Advisors LLC increased its position in Adverum Biotechnologies by 55.2% in the third quarter. MetLife Investment Advisors LLC now owns 43,973 shares of the biotechnology company’s stock worth $266,000 after buying an additional 15,632 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Adverum Biotechnologies by 9.0% in the fourth quarter. Two Sigma Advisers LP now owns 232,900 shares of the biotechnology company’s stock worth $734,000 after acquiring an additional 19,200 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Adverum Biotechnologies in the fourth quarter worth $66,000. Institutional investors own 59.34% of the company’s stock.
ADVM has been the subject of a number of analyst reports. Zacks Investment Research raised Adverum Biotechnologies from a “hold” rating to a “buy” rating and set a $5.25 price target for the company in a report on Tuesday, March 12th. BidaskClub raised Adverum Biotechnologies from a “hold” rating to a “buy” rating in a report on Wednesday, March 6th. Finally, ValuEngine raised Adverum Biotechnologies from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Adverum Biotechnologies has a consensus rating of “Hold” and an average price target of $6.55.
Adverum Biotechnologies (NASDAQ:ADVM) last issued its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.04. Adverum Biotechnologies had a negative return on equity of 29.95% and a negative net margin of 4,505.40%. On average, equities analysts expect that Adverum Biotechnologies Inc will post -1.13 earnings per share for the current fiscal year.
In related news, Director James Paul Scopa acquired 20,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were purchased at an average price of $6.71 per share, for a total transaction of $134,200.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.00% of the stock is currently owned by insiders.
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About Adverum Biotechnologies
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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