Chardan Capital Reaffirms Hold Rating for Adverum Biotechnologies (NASDAQ:ADVM)

Chardan Capital reissued their hold rating on shares of Adverum Biotechnologies (NASDAQ:ADVM) in a research report report published on Monday morning, AnalystRatings.com reports. They currently have a $10.00 price objective on the biotechnology company’s stock.

Several other research analysts have also commented on ADVM. ValuEngine raised Adverum Biotechnologies from a buy rating to a strong-buy rating in a report on Saturday, May 18th. Cowen restated a buy rating on shares of Adverum Biotechnologies in a research report on Tuesday, July 9th. SunTrust Banks boosted their target price on Adverum Biotechnologies to $12.00 and gave the stock a hold rating in a research report on Monday, July 29th. They noted that the move was a valuation call. BidaskClub downgraded Adverum Biotechnologies from a buy rating to a hold rating in a research report on Tuesday, June 18th. Finally, Piper Jaffray Companies boosted their target price on Adverum Biotechnologies from $8.00 to $12.00 and gave the stock an overweight rating in a research report on Friday, May 17th. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $11.20.

Shares of NASDAQ ADVM opened at $11.85 on Monday. Adverum Biotechnologies has a 12 month low of $2.62 and a 12 month high of $16.38. The company has a current ratio of 17.79, a quick ratio of 17.79 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $747.74 million, a price-to-earnings ratio of -10.04 and a beta of 2.42. The business has a 50-day moving average of $13.17 and a 200-day moving average of $8.43.

Adverum Biotechnologies (NASDAQ:ADVM) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.23) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.08. Adverum Biotechnologies had a negative return on equity of 31.21% and a negative net margin of 4,505.40%. On average, analysts predict that Adverum Biotechnologies will post -1.04 earnings per share for the current year.

Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can purchased a new stake in Adverum Biotechnologies in the second quarter worth $54,000. SG Americas Securities LLC purchased a new stake in shares of Adverum Biotechnologies in the first quarter worth $60,000. BNP Paribas Arbitrage SA grew its stake in shares of Adverum Biotechnologies by 94.9% in the first quarter. BNP Paribas Arbitrage SA now owns 16,504 shares of the biotechnology company’s stock worth $86,000 after acquiring an additional 8,038 shares during the last quarter. Metropolitan Life Insurance Co NY purchased a new stake in shares of Adverum Biotechnologies in the first quarter worth $108,000. Finally, Meeder Asset Management Inc. grew its stake in shares of Adverum Biotechnologies by 372.1% in the second quarter. Meeder Asset Management Inc. now owns 10,694 shares of the biotechnology company’s stock worth $127,000 after acquiring an additional 8,429 shares during the last quarter. 60.08% of the stock is currently owned by institutional investors.

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.

Featured Article: What is Considered a Good Return on Equity (ROE)?

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.