Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Given Consensus Rating of “Buy” by Brokerages

Shares of Adverum Biotechnologies, Inc. (NASDAQ:ADVMGet Free Report) have earned a consensus rating of “Buy” from the four analysts that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $29.00.

Several equities analysts recently commented on ADVM shares. Truist Financial reiterated a “buy” rating and issued a $60.00 target price on shares of Adverum Biotechnologies in a research note on Wednesday, May 15th. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Adverum Biotechnologies in a research note on Friday, May 10th. StockNews.com upgraded Adverum Biotechnologies from a “sell” rating to a “hold” rating in a research note on Monday, May 27th. Chardan Capital reiterated a “buy” rating and issued a $4.00 target price on shares of Adverum Biotechnologies in a research note on Tuesday, March 19th. Finally, Mizuho lowered their price target on Adverum Biotechnologies from $40.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, April 29th.

View Our Latest Stock Report on Adverum Biotechnologies

Institutional Investors Weigh In On Adverum Biotechnologies

A number of institutional investors have recently added to or reduced their stakes in the company. Monaco Asset Management SAM grew its position in Adverum Biotechnologies by 33.8% during the fourth quarter. Monaco Asset Management SAM now owns 79,234 shares of the biotechnology company’s stock valued at $60,000 after acquiring an additional 20,000 shares during the period. Newtyn Management LLC boosted its position in shares of Adverum Biotechnologies by 2.5% in the third quarter. Newtyn Management LLC now owns 1,025,000 shares of the biotechnology company’s stock worth $1,538,000 after buying an additional 25,000 shares during the period. Apexium Financial LP purchased a new stake in shares of Adverum Biotechnologies in the fourth quarter worth about $45,000. Twin Focus Capital Partners LLC purchased a new stake in shares of Adverum Biotechnologies in the fourth quarter worth about $75,000. Finally, Picton Mahoney Asset Management purchased a new stake in shares of Adverum Biotechnologies in the first quarter worth about $1,755,000. Hedge funds and other institutional investors own 48.17% of the company’s stock.

Adverum Biotechnologies Stock Up 2.6 %

NASDAQ ADVM opened at $6.73 on Wednesday. Adverum Biotechnologies has a fifty-two week low of $6.38 and a fifty-two week high of $29.70. The stock has a market cap of $139.71 million, a price-to-earnings ratio of -0.66 and a beta of 1.13. The business has a fifty day moving average of $8.77 and a 200-day moving average of $11.84.

Adverum Biotechnologies (NASDAQ:ADVMGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.28) by ($0.22). As a group, analysts anticipate that Adverum Biotechnologies will post -5.42 EPS for the current year.

Adverum Biotechnologies Company Profile

(Get Free Report

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.

See Also

Receive News & Ratings for Adverum Biotechnologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adverum Biotechnologies and related companies with MarketBeat.com's FREE daily email newsletter.