Braden Michael Leonard Acquires 19,566 Shares of Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Stock

Adverum Biotechnologies, Inc. (NASDAQ:ADVM - Get Free Report) major shareholder Braden Michael Leonard bought 19,566 shares of the firm's stock in a transaction on Monday, March 31st. The stock was acquired at an average price of $4.38 per share, for a total transaction of $85,699.08. Following the transaction, the insider now owns 2,742,317 shares of the company's stock, valued at approximately $12,011,348.46. The trade was a 0.72 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Braden Michael Leonard also recently made the following trade(s):

• On Wednesday, April 2nd, Braden Michael Leonard acquired 15,209 shares of Adverum Biotechnologies stock. The shares were bought at an average price of $4.04 per share, with a total value of $61,444.36.
• On Wednesday, March 26th, Braden Michael Leonard bought 20,407 shares of Adverum Biotechnologies stock. The stock was bought at an average price of $5.04 per share, for a total transaction of $102,851.28.
• On Thursday, March 20th, Braden Michael Leonard purchased 30,600 shares of Adverum Biotechnologies stock. The shares were bought at an average price of $5.61 per share, with a total value of $171,666.00.
• On Tuesday, March 18th, Braden Michael Leonard acquired 62,341 shares of Adverum Biotechnologies stock. The shares were purchased at an average cost of $4.69 per share, for a total transaction of $292,379.29.

Adverum Biotechnologies Stock Performance

Shares of ADVM traded down $0.23 during mid-day trading on Monday, reaching $3.63. 224,027 shares of the company were exchanged, compared to its average volume of 257,134. The business has a 50 day simple moving average of $4.44 and a two-hundred day simple moving average of $5.62. The stock has a market capitalization of $75.51 million, a PE ratio of -0.61 and a beta of 1.10. Adverum Biotechnologies, Inc. has a 52 week low of $3.42 and a 52 week high of $13.14.

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Analyst Ratings Changes

Separately, StockNews.com downgraded Adverum Biotechnologies from a "hold" rating to a "sell" rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Adverum Biotechnologies currently has a consensus rating of "Moderate Buy" and an average price target of $27.83.

Institutional Trading of Adverum Biotechnologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADVM. Millennium Management LLC boosted its stake in shares of Adverum Biotechnologies by 46.5% in the 4th quarter. Millennium Management LLC now owns 42,847 shares of the biotechnology company's stock valued at $200,000 after purchasing an additional 13,608 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new stake in Adverum Biotechnologies during the fourth quarter valued at $222,000. Corton Capital Inc. bought a new stake in Adverum Biotechnologies during the fourth quarter valued at $153,000. Bank of America Corp DE grew its holdings in Adverum Biotechnologies by 16.3% during the 4th quarter. Bank of America Corp DE now owns 43,576 shares of the biotechnology company's stock worth $204,000 after acquiring an additional 6,094 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Adverum Biotechnologies by 50.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 311,005 shares of the biotechnology company's stock worth $1,452,000 after acquiring an additional 104,262 shares in the last quarter. Institutional investors and hedge funds own 48.17% of the company's stock.

Adverum Biotechnologies Company Profile

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.