ValuEngine downgraded shares of Adverum Biotechnologies (NASDAQ:ADVM) from a buy rating to a hold rating in a research report report published on Thursday morning, ValuEngine reports.

A number of other research analysts have also commented on ADVM. SunTrust Banks upped their price objective on shares of Adverum Biotechnologies to $12.00 and gave the company a hold rating in a research report on Monday, July 29th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Adverum Biotechnologies from a strong-buy rating to a hold rating in a research report on Tuesday, July 30th. Raymond James began coverage on shares of Adverum Biotechnologies in a research report on Thursday, June 13th. They set a market perform rating for the company. Cowen reaffirmed a buy rating on shares of Adverum Biotechnologies in a research report on Tuesday, July 9th. Finally, Piper Jaffray Companies upped their price objective on shares of Adverum Biotechnologies from $8.00 to $12.00 and gave the company an overweight rating in a research report on Friday, May 17th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Adverum Biotechnologies presently has a consensus rating of Hold and an average price target of $9.60.

Adverum Biotechnologies stock traded down $0.69 on Thursday, reaching $5.27. 274,588 shares of the stock were exchanged, compared to its average volume of 1,129,243. The stock has a market cap of $747.08 million, a PE ratio of -4.43 and a beta of 2.49. The company has a current ratio of 17.79, a quick ratio of 17.79 and a debt-to-equity ratio of 0.12. Adverum Biotechnologies has a twelve month low of $2.62 and a twelve month high of $16.38. The firm has a fifty day moving average price of $11.93 and a two-hundred day moving average price of $9.23.

Adverum Biotechnologies (NASDAQ:ADVM) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.08. Adverum Biotechnologies had a negative net margin of 4,505.40% and a negative return on equity of 31.21%. Equities analysts anticipate that Adverum Biotechnologies will post -1.02 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its stake in Adverum Biotechnologies by 1.7% in the second quarter. Renaissance Technologies LLC now owns 3,857,500 shares of the biotechnology company’s stock valued at $45,866,000 after acquiring an additional 63,200 shares during the period. JPMorgan Chase & Co. increased its stake in Adverum Biotechnologies by 12.7% in the first quarter. JPMorgan Chase & Co. now owns 3,297,793 shares of the biotechnology company’s stock valued at $17,281,000 after acquiring an additional 371,461 shares during the period. UBS Group AG increased its stake in Adverum Biotechnologies by 52.1% in the second quarter. UBS Group AG now owns 3,138,539 shares of the biotechnology company’s stock valued at $37,317,000 after acquiring an additional 1,074,535 shares during the period. Vanguard Group Inc. increased its stake in Adverum Biotechnologies by 19.2% in the second quarter. Vanguard Group Inc. now owns 2,524,477 shares of the biotechnology company’s stock valued at $30,016,000 after acquiring an additional 406,963 shares during the period. Finally, Orbimed Advisors LLC increased its stake in Adverum Biotechnologies by 57.7% in the second quarter. Orbimed Advisors LLC now owns 1,960,200 shares of the biotechnology company’s stock valued at $23,307,000 after acquiring an additional 717,000 shares during the period. 71.79% of the stock is currently owned by institutional investors and hedge funds.

Adverum Biotechnologies Company Profile

Adverum Biotechnologies, Inc, a clinical-stage gene therapy company, engages in developing gene therapy product candidates to treat ocular and rare diseases. Its pipeline of product candidates includes ADVM-022, an adeno- associated virus (AAV). 7m8-aflibercept for the treatment of wet age-related macular degeneration; ADVM-043, an investigational gene therapy candidate for the treatment of alpha-1 antitrypsin deficiency; and ADVM-053, a preclinical gene therapy product candidate for the treatment of hereditary angioedema.

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Analyst Recommendations for Adverum Biotechnologies (NASDAQ:ADVM)

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