Braden Michael Leonard Purchases 20,407 Shares of Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Stock

Adverum Biotechnologies, Inc. (NASDAQ:ADVM - Get Free Report) major shareholder Braden Michael Leonard bought 20,407 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The shares were acquired at an average cost of $5.04 per share, with a total value of $102,851.28. Following the purchase, the insider now directly owns 125,207 shares of the company's stock, valued at $631,043.28. This trade represents a 19.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, March 20th, Braden Michael Leonard purchased 30,600 shares of Adverum Biotechnologies stock. The stock was purchased at an average price of $5.61 per share, for a total transaction of $171,666.00.
• On Tuesday, March 18th, Braden Michael Leonard acquired 62,341 shares of Adverum Biotechnologies stock. The stock was purchased at an average cost of $4.69 per share, with a total value of $292,379.29.

Adverum Biotechnologies Stock Performance

Shares of Adverum Biotechnologies stock traded down $0.42 during trading on Monday, hitting $4.20. The company's stock had a trading volume of 78,502 shares, compared to its average volume of 256,387. Adverum Biotechnologies, Inc. has a 52 week low of $3.52 and a 52 week high of $14.21. The company has a market capitalization of $87.26 million, a PE ratio of -0.70 and a beta of 1.14. The company has a fifty day simple moving average of $4.50 and a two-hundred day simple moving average of $5.76.

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Analyst Upgrades and Downgrades

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

Institutional Trading of Adverum Biotechnologies

A number of hedge funds have recently made changes to their positions in ADVM. BNP Paribas Financial Markets grew its position in Adverum Biotechnologies by 177.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,146 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 2,649 shares during the last quarter. Wells Fargo & Company MN increased its position in Adverum Biotechnologies by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 12,240 shares of the biotechnology company's stock valued at $57,000 after acquiring an additional 2,659 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Adverum Biotechnologies during the 3rd quarter worth $71,000. American Century Companies Inc. boosted its position in shares of Adverum Biotechnologies by 36.6% in the fourth quarter. American Century Companies Inc. now owns 16,277 shares of the biotechnology company's stock worth $76,000 after purchasing an additional 4,362 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in Adverum Biotechnologies by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 12,582 shares of the biotechnology company's stock worth $88,000 after purchasing an additional 7,089 shares in the last quarter. 48.17% of the stock is owned by institutional investors.

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.