Shares of Adverum Biotechnologies, Inc. (NASDAQ:ADVM - Get Free Report) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.05 and traded as low as $4.15. Adverum Biotechnologies shares last traded at $4.16, with a volume of 267,771 shares trading hands.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on ADVM. HC Wainwright reiterated a "buy" rating and issued a $30.00 price objective on shares of Adverum Biotechnologies in a research note on Tuesday, November 19th. StockNews.com cut shares of Adverum Biotechnologies from a "hold" rating to a "sell" rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $27.83.
Check Out Our Latest Research Report on ADVM
Adverum Biotechnologies Trading Up 0.9 %
The company has a market capitalization of $96.94 million, a price-to-earnings ratio of -0.78 and a beta of 0.94. The firm's 50-day moving average price is $4.40 and its 200 day moving average price is $6.01.
Institutional Investors Weigh In On Adverum Biotechnologies
Large investors have recently modified their holdings of the business. BML Capital Management LLC raised its holdings in shares of Adverum Biotechnologies by 15.4% during the 3rd quarter. BML Capital Management LLC now owns 2,268,064 shares of the biotechnology company's stock worth $15,922,000 after buying an additional 302,064 shares in the last quarter. State Street Corp raised its stake in Adverum Biotechnologies by 32.7% during the third quarter. State Street Corp now owns 369,616 shares of the biotechnology company's stock worth $2,595,000 after acquiring an additional 91,112 shares in the last quarter. Barclays PLC lifted its holdings in shares of Adverum Biotechnologies by 125.8% in the third quarter. Barclays PLC now owns 35,832 shares of the biotechnology company's stock worth $252,000 after acquiring an additional 19,965 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Adverum Biotechnologies by 129.1% in the third quarter. MetLife Investment Management LLC now owns 12,582 shares of the biotechnology company's stock worth $88,000 after acquiring an additional 7,089 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Adverum Biotechnologies in the 3rd quarter valued at approximately $93,000. Institutional investors and hedge funds own 48.17% of the company's stock.
Adverum Biotechnologies Company Profile
(
Get Free Report)
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.
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