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

Adverum Biotechnologies, Inc. (NASDAQ:ADVM) has been given an average rating of “Hold” by the six research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $15.50.

Several analysts recently commented on ADVM shares. Weiss Ratings restated a “sell (d-)” rating on shares of Adverum Biotechnologies in a report on Wednesday, October 8th. Mizuho set a $5.50 price target on shares of Adverum Biotechnologies in a report on Wednesday. Chardan Capital cut shares of Adverum Biotechnologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Adverum Biotechnologies in a report on Tuesday, September 23rd. Finally, Royal Bank Of Canada set a $4.00 price target on shares of Adverum Biotechnologies in a report on Tuesday.

Adverum Biotechnologies Price Performance

Shares of ADVM opened at $4.30 on Tuesday. Adverum Biotechnologies has a one year low of $1.78 and a one year high of $8.18. The company has a 50-day moving average of $3.98 and a two-hundred day moving average of $3.08. The stock has a market cap of $90.21 million, a price-to-earnings ratio of -0.55 and a beta of 0.98.

Adverum Biotechnologies (NASDAQ:ADVM) last posted its quarterly earnings results on Tuesday, August 12th. The biotechnology company reported ($2.34) EPS for the quarter, missing the consensus estimate of ($2.24) by ($0.10). Analysts anticipate that Adverum Biotechnologies will post -4.92 earnings per share for the current year.

Hedge Funds Weigh In On Adverum Biotechnologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC bought a new position in Adverum Biotechnologies during the third quarter valued at approximately $58,000. Jane Street Group LLC bought a new position in Adverum Biotechnologies during the second quarter valued at approximately $153,000. Qube Research & Technologies Ltd bought a new position in Adverum Biotechnologies during the second quarter valued at approximately $66,000. Marshall Wace LLP bought a new position in Adverum Biotechnologies during the second quarter valued at approximately $107,000. Finally, XTX Topco Ltd bought a new position in Adverum Biotechnologies during the second quarter valued at approximately $64,000. Institutional investors own 48.17% of the company’s stock.

About Adverum Biotechnologies

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.