Wall Street brokerages expect that Adverum Biotechnologies Inc (NASDAQ:ADVM) will report $480,000.00 in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Adverum Biotechnologies’ earnings, with the highest sales estimate coming in at $500,000.00 and the lowest estimate coming in at $460,000.00. Adverum Biotechnologies reported sales of $830,000.00 in the same quarter last year, which indicates a negative year-over-year growth rate of 42.2%. The firm is expected to announce its next quarterly earnings report on Thursday, November 14th.

On average, analysts expect that Adverum Biotechnologies will report full-year sales of $960,000.00 for the current year, with estimates ranging from $920,000.00 to $1.00 million. For the next fiscal year, analysts anticipate that the company will post sales of $1.42 million, with estimates ranging from $1.00 million to $1.84 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Adverum Biotechnologies.

Adverum Biotechnologies (NASDAQ:ADVM) last released its earnings results on Thursday, August 8th. The biotechnology company reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.08.

A number of analysts recently weighed in on ADVM shares. Raymond James started coverage on Adverum Biotechnologies in a research report on Thursday, June 13th. They issued a “market perform” rating for the company. SunTrust Banks dropped their target price on Adverum Biotechnologies from $12.00 to $8.00 and set a “hold” rating for the company in a research report on Friday, September 13th. Chardan Capital dropped their target price on Adverum Biotechnologies from $10.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Cowen reiterated a “buy” rating on shares of Adverum Biotechnologies in a research report on Tuesday, July 9th. Finally, BidaskClub downgraded Adverum Biotechnologies from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Adverum Biotechnologies currently has a consensus rating of “Hold” and an average price target of $8.05.

A number of hedge funds have recently made changes to their positions in the business. Bank of Montreal Can purchased a new position in shares of Adverum Biotechnologies during the second quarter valued at approximately $54,000. Meeder Asset Management Inc. increased its stake in shares of Adverum Biotechnologies by 372.1% during the second quarter. Meeder Asset Management Inc. now owns 10,694 shares of the biotechnology company’s stock valued at $127,000 after buying an additional 8,429 shares during the period. SG Americas Securities LLC purchased a new position in shares of Adverum Biotechnologies during the first quarter valued at approximately $60,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in shares of Adverum Biotechnologies during the second quarter valued at approximately $151,000. Finally, TD Asset Management Inc. purchased a new position in shares of Adverum Biotechnologies during the second quarter valued at approximately $174,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

NASDAQ:ADVM traded down $0.01 during mid-day trading on Friday, reaching $5.60. The stock had a trading volume of 28,956 shares, compared to its average volume of 3,755,946. The firm has a 50 day moving average price of $8.54 and a two-hundred day moving average price of $9.36. The stock has a market capitalization of $359.04 million, a P/E ratio of -4.75 and a beta of 2.49. Adverum Biotechnologies has a one year low of $2.62 and a one year high of $16.38. The company has a debt-to-equity ratio of 0.12, a quick ratio of 17.79 and a current ratio of 17.79.

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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Earnings History and Estimates for Adverum Biotechnologies (NASDAQ:ADVM)

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