Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Receives Consensus Rating of “Hold” from Analysts

Adverum Biotechnologies, Inc. (NASDAQ:ADVM) has been given an average rating of “Hold” by the six ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $10.50.

Several brokerages have recently commented on ADVM. Chardan Capital lowered shares of Adverum Biotechnologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Mizuho set a $5.50 target price on shares of Adverum Biotechnologies in a research note on Wednesday, October 29th. Truist Financial set a $5.00 price target on Adverum Biotechnologies in a research report on Friday, October 24th. Royal Bank Of Canada set a $4.00 price objective on Adverum Biotechnologies in a research report on Tuesday, October 28th. Finally, HC Wainwright restated a “neutral” rating and issued a $5.00 target price (down from $30.00) on shares of Adverum Biotechnologies in a research note on Monday, November 17th.

Adverum Biotechnologies Trading Down 1.2%

NASDAQ:ADVM traded down $0.05 during trading hours on Friday, hitting $4.14. The stock had a trading volume of 204,894 shares, compared to its average volume of 355,243. The business has a 50 day simple moving average of $4.30 and a two-hundred day simple moving average of $3.21. The company has a market cap of $91.40 million, a PE ratio of -0.53 and a beta of 1.01. Adverum Biotechnologies has a 1-year low of $1.78 and a 1-year high of $6.98.

Adverum Biotechnologies (NASDAQ:ADVM) last announced its earnings results on Wednesday, November 12th. The biotechnology company reported ($2.03) earnings per share for the quarter, missing the consensus estimate of ($1.80) by ($0.23). Research analysts expect that Adverum Biotechnologies will post -4.92 EPS for the current fiscal year.

Institutional Trading of Adverum Biotechnologies

Several hedge funds have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC acquired a new position in Adverum Biotechnologies during the 3rd quarter worth $58,000. Y Intercept Hong Kong Ltd bought a new position in Adverum Biotechnologies in the second quarter valued at about $45,000. XTX Topco Ltd acquired a new stake in Adverum Biotechnologies in the second quarter worth about $64,000. Qube Research & Technologies Ltd bought a new stake in Adverum Biotechnologies during the 2nd quarter worth about $66,000. Finally, Nuveen LLC acquired a new position in Adverum Biotechnologies during the 1st quarter valued at about $139,000. 48.17% of the stock is owned by institutional investors.

Adverum Biotechnologies Company Profile

Adverum Biotechnologies, Inc, a clinical-stage company, develops gene therapy product candidates to treat ocular diseases. Its lead product candidate is ixoberogene soroparvovec (ADVM-022), a single intravitreal injection gene therapy candidate used for the treatment of patients with wet age-related macular degeneration and diabetic macular edema which is in phase 2 clinical trials.