Adverum Biotechnologies Inc (NASDAQ:ADVM) traded up 5.8% during trading on Thursday . The stock traded as high as $5.45 and last traded at $5.33. 597,383 shares changed hands during mid-day trading, an increase of 79% from the average session volume of 333,482 shares. The stock had previously closed at $5.04.

Several equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Adverum Biotechnologies from a “buy” rating to a “hold” rating in a report on Wednesday. BidaskClub upgraded shares of Adverum Biotechnologies from a “hold” rating to a “buy” rating in a report on Wednesday, March 6th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $6.55.

The company has a market capitalization of $305.89 million, a P/E ratio of -4.52 and a beta of 3.13.

Adverum Biotechnologies (NASDAQ:ADVM) last posted its quarterly earnings data on Wednesday, March 6th. The biotechnology company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.04. The firm had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.39 million. Adverum Biotechnologies had a negative net margin of 4,505.40% and a negative return on equity of 30.18%. As a group, sell-side analysts anticipate that Adverum Biotechnologies Inc will post -1.21 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. RTW Investments LP raised its stake in shares of Adverum Biotechnologies by 3,285.4% during the 4th quarter. RTW Investments LP now owns 6,256,840 shares of the biotechnology company’s stock worth $19,709,000 after acquiring an additional 6,072,019 shares in the last quarter. BlackRock Inc. raised its stake in shares of Adverum Biotechnologies by 20.4% during the 4th quarter. BlackRock Inc. now owns 4,443,970 shares of the biotechnology company’s stock worth $14,000,000 after acquiring an additional 753,735 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Adverum Biotechnologies by 4.6% during the 3rd quarter. Renaissance Technologies LLC now owns 3,542,500 shares of the biotechnology company’s stock worth $21,432,000 after acquiring an additional 154,900 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Adverum Biotechnologies by 8.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,767,090 shares of the biotechnology company’s stock worth $16,740,000 after acquiring an additional 214,770 shares in the last quarter. Finally, Vanguard Group Inc raised its stake in shares of Adverum Biotechnologies by 1.9% during the 3rd quarter. Vanguard Group Inc now owns 2,246,018 shares of the biotechnology company’s stock worth $13,589,000 after acquiring an additional 42,684 shares in the last quarter. Hedge funds and other institutional investors own 60.38% of the company’s stock.

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Adverum Biotechnologies Company Profile (NASDAQ:ADVM)

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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