Adverum Biotechnologies (NASDAQ:ADVM - Get Free Report) announced its earnings results on Monday. The biotechnology company reported ($1.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.20) by ($0.10), Zacks reports. The firm had revenue of $1.00 million during the quarter, compared to analysts' expectations of $0.50 million.
Adverum Biotechnologies Trading Up 2.4 %
Shares of ADVM traded up $0.18 during mid-day trading on Tuesday, reaching $7.72. The company's stock had a trading volume of 104,776 shares, compared to its average volume of 279,416. Adverum Biotechnologies has a 52 week low of $6.38 and a 52 week high of $29.70. The stock has a market cap of $160.58 million, a PE ratio of -0.97 and a beta of 1.02. The company's fifty day moving average price is $7.36 and its two-hundred day moving average price is $7.71.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on ADVM shares. HC Wainwright reissued a "buy" rating and set a $30.00 target price on shares of Adverum Biotechnologies in a research report on Tuesday, August 13th. StockNews.com raised Adverum Biotechnologies from a "sell" rating to a "hold" rating in a report on Thursday, August 15th. Royal Bank of Canada reduced their target price on shares of Adverum Biotechnologies from $12.00 to $10.00 and set a "sector perform" rating for the company in a research note on Tuesday. Chardan Capital boosted their target price on shares of Adverum Biotechnologies from $4.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, July 18th. Finally, Truist Financial reduced their target price on Adverum Biotechnologies from $60.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, August 14th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $27.83.
Check Out Our Latest Stock Report on ADVM
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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