Adverum Biotechnologies Inc (ADVM) Shares Sold by OxFORD Asset Management LLP
OxFORD Asset Management LLP reduced its holdings in Adverum Biotechnologies Inc (NASDAQ:ADVM) by 14.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 197,440 shares of the biotechnology company’s stock after selling 32,229 shares during the quarter. OxFORD Asset Management LLP owned about 0.44% of Adverum Biotechnologies worth $703,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Virtu KCG Holdings LLC acquired a new stake in Adverum Biotechnologies during the second quarter worth about $144,000. Susquehanna International Group LLP acquired a new stake in Adverum Biotechnologies during the second quarter worth about $162,000. Russell Investments Group Ltd. acquired a new stake in Adverum Biotechnologies during the third quarter worth about $241,000. JPMorgan Chase & Co. grew its position in Adverum Biotechnologies by 41.6% during the third quarter. JPMorgan Chase & Co. now owns 103,009 shares of the biotechnology company’s stock worth $355,000 after buying an additional 30,254 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in Adverum Biotechnologies by 126.7% during the first quarter. California Public Employees Retirement System now owns 117,900 shares of the biotechnology company’s stock worth $318,000 after buying an additional 65,900 shares in the last quarter. 30.14% of the stock is currently owned by institutional investors.
A number of equities research analysts recently weighed in on ADVM shares. ValuEngine downgraded Adverum Biotechnologies from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Chardan Capital reissued a “hold” rating and set a $3.50 target price on shares of Adverum Biotechnologies in a research report on Tuesday, September 5th. Zacks Investment Research cut shares of Adverum Biotechnologies from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Raymond James Financial started coverage on shares of Adverum Biotechnologies in a research note on Thursday, October 12th. They set an “outperform” rating and a $6.00 price target for the company.
Adverum Biotechnologies Inc (ADVM) opened at $3.45 on Monday. The company has a market cap of $155.39, a PE ratio of -2.30 and a beta of 2.43. Adverum Biotechnologies Inc has a one year low of $2.40 and a one year high of $4.20.
Adverum Biotechnologies (NASDAQ:ADVM) last announced its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.03). The business had revenue of $0.46 million for the quarter. Adverum Biotechnologies had a negative return on equity of 26.60% and a negative net margin of 3,398.29%. equities analysts forecast that Adverum Biotechnologies Inc will post -1.31 earnings per share for the current fiscal year.
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Adverum Biotechnologies Profile
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.
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