Parametric Portfolio Associates LLC Raises Position in Adverum Biotechnologies, Inc. (NASDAQ:ADVM)
Parametric Portfolio Associates LLC increased its stake in shares of Adverum Biotechnologies, Inc. (NASDAQ:ADVM) by 81.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,218 shares of the biotechnology company’s stock after buying an additional 23,898 shares during the period. Parametric Portfolio Associates LLC’s holdings in Adverum Biotechnologies were worth $144,000 as of its most recent SEC filing.
Separately, TFS Capital LLC boosted its position in Adverum Biotechnologies by 332.3% in the first quarter. TFS Capital LLC now owns 89,156 shares of the biotechnology company’s stock valued at $241,000 after buying an additional 68,532 shares during the last quarter. Institutional investors and hedge funds own 32.35% of the company’s stock.
Shares of Adverum Biotechnologies, Inc. (NASDAQ:ADVM) opened at 2.525 on Wednesday. The company’s market capitalization is $108.24 million. The company’s 50-day moving average is $2.62 and its 200 day moving average is $2.74. Adverum Biotechnologies, Inc. has a 12 month low of $2.45 and a 12 month high of $4.79.
Adverum Biotechnologies (NASDAQ:ADVM) last announced its quarterly earnings data on Tuesday, May 9th. The biotechnology company reported ($0.38) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by $0.12. The company had revenue of $0.46 million during the quarter. Adverum Biotechnologies had a negative net margin of 6,928.21% and a negative return on equity of 24.04%. On average, equities research analysts anticipate that Adverum Biotechnologies, Inc. will post ($1.30) earnings per share for the current year.
Several research analysts have recently weighed in on ADVM shares. Zacks Investment Research raised shares of Adverum Biotechnologies from a “sell” rating to a “hold” rating in a report on Monday, July 17th. ValuEngine cut shares of Adverum Biotechnologies from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd.
Adverum Biotechnologies Company 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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