Avalanche Biotechnologies Inc. (NASDAQ:ADVM) was down 2.9% during trading on Wednesday . The stock traded as low as $3.94 and last traded at $3.97, with a volume of 77,111 shares. The stock had previously closed at $4.09.

ADVM has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Avalanche Biotechnologies from a “sell” rating to a “hold” rating in a report on Tuesday, July 19th. Chardan Capital cut shares of Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $7.50 to $5.00 in a report on Wednesday, June 8th. Cowen and Company initiated coverage on shares of Avalanche Biotechnologies in a report on Friday, May 27th. They set an “outperform” rating for the company. Jefferies Group restated a “buy” rating and set a $12.00 price objective on shares of Avalanche Biotechnologies in a report on Wednesday, August 10th. Finally, Piper Jaffray Cos. set a $9.00 price objective on shares of Avalanche Biotechnologies and gave the company a “buy” rating in a report on Thursday, August 18th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Avalanche Biotechnologies has an average rating of “Buy” and an average target price of $7.75.

The firm’s 50-day moving average is $4.04 and its 200-day moving average is $4.29. The company’s market capitalization is $168.70 million.

Avalanche Biotechnologies (NASDAQ:ADVM) last posted its earnings results on Tuesday, August 9th. The company reported ($1.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by $1.38. Avalanche Biotechnologies had a negative return on equity of 21.33% and a negative net margin of 4,234.61%. On average, equities analysts expect that Avalanche Biotechnologies Inc. will post ($2.33) EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Panagora Asset Management Inc. raised its position in shares of Avalanche Biotechnologies by 4.6% in the second quarter. Panagora Asset Management Inc. now owns 210,163 shares of the company’s stock worth $664,000 after buying an additional 9,244 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Avalanche Biotechnologies during the second quarter worth about $102,000. ProShare Advisors LLC acquired a new position in shares of Avalanche Biotechnologies during the second quarter worth about $106,000. Teachers Advisors Inc. acquired a new position in shares of Avalanche Biotechnologies during the second quarter worth about $116,000. Finally, California State Teachers Retirement System acquired a new position in shares of Avalanche Biotechnologies during the second quarter worth about $152,000. 37.91% of the stock is owned by hedge funds and other institutional investors.

About Avalanche Biotechnologies

Adverum Biotechnologies, Inc, formerly Avalanche Biotechnologies, Inc, is a gene therapy company. The Company is engaged in discovering and developing medicines to patients suffering from chronic or debilitating disease. The Company operates and manages its business in the segment of developing and commercializing gene therapeutics.

5 Day Chart for NASDAQ:ADVM

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