Adverum Biotechnologies (NASDAQ:ADVM) issued its quarterly earnings results on Thursday. The biotechnology company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04), Fidelity Earnings reports. Adverum Biotechnologies had a negative return on equity of 30.61% and a negative net margin of 3,957.63%. The company had revenue of $0.83 million during the quarter, compared to the consensus estimate of $0.27 million.

Shares of ADVM opened at $3.76 on Friday. Adverum Biotechnologies has a 52 week low of $2.62 and a 52 week high of $8.59. The company has a market capitalization of $231.34 million, a PE ratio of -2.91 and a beta of 3.83.

A number of analysts have recently commented on the company. Piper Jaffray Companies set a $8.00 price target on Adverum Biotechnologies and gave the stock a “buy” rating in a research report on Friday, November 2nd. Chardan Capital reissued a “hold” rating and issued a $4.50 price target on shares of Adverum Biotechnologies in a research report on Friday, November 2nd. Cantor Fitzgerald cut Adverum Biotechnologies from an “overweight” rating to a “hold” rating and dropped their price target for the stock from $12.00 to $4.00 in a research report on Sunday, November 4th. BidaskClub cut Adverum Biotechnologies from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Finally, Zacks Investment Research cut Adverum Biotechnologies from a “buy” rating to a “hold” rating in a research report on Monday, October 15th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $6.85.

An institutional investor recently raised its position in Adverum Biotechnologies stock. Bank of New York Mellon Corp boosted its holdings in Adverum Biotechnologies Inc (NASDAQ:ADVM) by 259.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 186,599 shares of the biotechnology company’s stock after acquiring an additional 134,709 shares during the quarter. Bank of New York Mellon Corp owned 0.30% of Adverum Biotechnologies worth $989,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 58.39% of the company’s stock.

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Adverum Biotechnologies Company Profile

Adverum Biotechnologies, Inc, a clinical-stage gene therapy company, engages in developing gene therapy product candidates that target serious rare and ocular diseases. It leverages its adeno-associated virus (AAV)-based directed evolution platform to develop products. The company's pipeline of product candidates include ADVM-043 to treat alpha-1 antitrypsin deficiency, which is in Phase I/II clinical trial; and ADVM-053 for hereditary angioedema disease, which is in preclinical stage; as well as ADVM-022 and ADVM-032 for wet age-related macular degeneration disease, which are in preclinical stage.

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Earnings History for Adverum Biotechnologies (NASDAQ:ADVM)

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