Adverum Biotechnologies Inc (NASDAQ:ADVM) Given Average Recommendation of “Hold” by Analysts

Adverum Biotechnologies Inc (NASDAQ:ADVM) has been assigned an average rating of “Hold” from the nine research firms that are covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $9.50.

Several research firms have issued reports on ADVM. Cowen restated a “buy” rating on shares of Adverum Biotechnologies in a research note on Tuesday, July 9th. Chardan Capital restated a “hold” rating and set a $10.00 target price on shares of Adverum Biotechnologies in a research note on Monday, August 19th. BidaskClub cut shares of Adverum Biotechnologies from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Piper Jaffray Companies upped their target price on shares of Adverum Biotechnologies from $8.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Finally, SunTrust Banks increased their price objective on shares of Adverum Biotechnologies to $12.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. They noted that the move was a valuation call.

Large investors have recently modified their holdings of the company. Bank of Montreal Can bought a new position in shares of Adverum Biotechnologies in the 2nd quarter worth approximately $54,000. Meeder Asset Management Inc. lifted its stake in shares of Adverum Biotechnologies by 372.1% in the 2nd quarter. Meeder Asset Management Inc. now owns 10,694 shares of the biotechnology company’s stock worth $127,000 after purchasing an additional 8,429 shares during the period. SG Americas Securities LLC bought a new position in shares of Adverum Biotechnologies in the 1st quarter worth approximately $60,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in shares of Adverum Biotechnologies in the 2nd quarter worth approximately $151,000. Finally, TD Asset Management Inc. bought a new position in shares of Adverum Biotechnologies in the 2nd quarter worth approximately $174,000. Hedge funds and other institutional investors own 60.08% of the company’s stock.

ADVM traded down $0.43 during midday trading on Friday, hitting $10.56. 1,143,307 shares of the company traded hands, compared to its average volume of 1,113,347. The company has a quick ratio of 17.79, a current ratio of 17.79 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $763.84 million, a PE ratio of -8.95 and a beta of 2.42. The company’s 50-day moving average is $13.14 and its 200 day moving average is $8.51. Adverum Biotechnologies has a 52 week low of $2.62 and a 52 week high of $16.38.

Adverum Biotechnologies (NASDAQ:ADVM) last posted its earnings results on Thursday, August 8th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.08. Adverum Biotechnologies had a negative net margin of 4,505.40% and a negative return on equity of 31.21%. On average, sell-side analysts predict that Adverum Biotechnologies will post -1.02 earnings per share for the current fiscal year.

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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Analyst Recommendations for Adverum Biotechnologies (NASDAQ:ADVM)

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