Research Analysts’ Recent Ratings Changes for Adverum Biotechnologies (ADVM)

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Several brokerages have updated their recommendations and price targets on shares of Adverum Biotechnologies (NASDAQ: ADVM) in the last few weeks:

  • 8/31/2018 – Adverum Biotechnologies was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 8/30/2018 – Adverum Biotechnologies was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 8/30/2018 – Adverum Biotechnologies is now covered by analysts at SunTrust Banks, Inc.. They set a “buy” rating and a $11.00 price target on the stock.
  • 8/27/2018 – Adverum Biotechnologies was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $6.75 price target on the stock. According to Zacks, “Adverum Biotechnologies, Inc. is a gene therapy company. The Company discovers and develops novel medicines for patients living with rare diseases. Adverum Biotechnologies Inc, formerly known as Avalanche Biotechnologies Inc., is headquartered in Menlo Park, California. “
  • 8/15/2018 – Adverum Biotechnologies was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Adverum Biotechnologies, Inc. is a gene therapy company. The Company discovers and develops novel medicines for patients living with rare diseases. Adverum Biotechnologies Inc, formerly known as Avalanche Biotechnologies Inc., is headquartered in Menlo Park, California. “
  • 8/14/2018 – Adverum Biotechnologies was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 8/9/2018 – Adverum Biotechnologies had its “hold” rating reaffirmed by analysts at Chardan Capital. They now have a $8.00 price target on the stock.
  • 8/3/2018 – Adverum Biotechnologies was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/10/2018 – Adverum Biotechnologies was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Adverum Biotechnologies, Inc. is a gene therapy company. The Company discovers and develops novel medicines for patients living with rare diseases. Adverum Biotechnologies Inc, formerly known as Avalanche Biotechnologies Inc., is headquartered in Menlo Park, California. “

NASDAQ:ADVM traded down $0.60 during mid-day trading on Thursday, reaching $6.60. The stock had a trading volume of 19,710 shares, compared to its average volume of 485,824. The company has a market capitalization of $476.48 million, a price-to-earnings ratio of -5.12 and a beta of 3.80. Adverum Biotechnologies Inc has a 1-year low of $2.55 and a 1-year high of $8.59.

Adverum Biotechnologies (NASDAQ:ADVM) last posted its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported ($0.30) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.01. The business had revenue of $0.49 million during the quarter, compared to the consensus estimate of $0.40 million. Adverum Biotechnologies had a negative return on equity of 30.61% and a negative net margin of 3,957.63%. analysts expect that Adverum Biotechnologies Inc will post -1.24 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of ADVM. Metropolitan Life Insurance Co. NY acquired a new position in Adverum Biotechnologies in the second quarter worth about $106,000. Voya Investment Management LLC acquired a new position in Adverum Biotechnologies in the second quarter valued at approximately $107,000. Creative Planning boosted its stake in Adverum Biotechnologies by 76.8% in the second quarter. Creative Planning now owns 22,870 shares of the biotechnology company’s stock valued at $121,000 after acquiring an additional 9,937 shares during the period. MetLife Investment Advisors LLC acquired a new position in Adverum Biotechnologies in the second quarter valued at approximately $150,000. Finally, Trexquant Investment LP acquired a new position in Adverum Biotechnologies in the first quarter valued at approximately $184,000. Institutional investors and hedge funds own 58.69% of the company’s stock.

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.

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