According to Zacks, “Adverum Biotechnologies, Inc. is a gene therapy company. The Company discovers and develops novel medicines for patients living with rare diseases. Adverum Biotechnologies Inc, formerly known as Avalanche Biotechnologies Inc., is headquartered in Menlo Park, California. “
Several other analysts have also recently commented on ADVM. Jefferies Group restated a buy rating and set a $12.00 target price on shares of Avalanche Biotechnologies in a report on Wednesday, August 10th. Piper Jaffray Cos. set a $9.00 target price on Avalanche Biotechnologies and gave the stock a buy rating in a report on Thursday, August 18th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Avalanche Biotechnologies has an average rating of Buy and an average target price of $7.75.
Shares of Avalanche Biotechnologies (NASDAQ:ADVM) opened at 3.57 on Tuesday. The firm’s market cap is $147.61 million. The firm’s 50-day moving average price is $3.91 and its 200 day moving average price is $4.17. Avalanche Biotechnologies has a 12-month low of $2.99 and a 12-month high of $10.69.
Avalanche Biotechnologies (NASDAQ:ADVM) last announced its earnings results on Tuesday, August 9th. The company reported ($1.76) EPS for the quarter, missing the consensus estimate of ($0.38) by $1.38. Avalanche Biotechnologies had a negative return on equity of 21.33% and a negative net margin of 4,234.61%. On average, equities analysts expect that Avalanche Biotechnologies will post ($2.33) earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the stock. FMR LLC purchased a new position in Avalanche Biotechnologies during the second quarter valued at about $12,214,000. Numeric Investors LLC bought a new position in Avalanche Biotechnologies during the second quarter valued at $3,586,000. BlackRock Fund Advisors bought a new position in Avalanche Biotechnologies during the second quarter valued at $3,501,000. VHCP Management LLC bought a new position in Avalanche Biotechnologies during the second quarter valued at $3,485,000. Finally, Sabby Management LLC bought a new position in Avalanche Biotechnologies during the second quarter valued at $2,465,000. Institutional investors and hedge funds own 37.89% of the company’s stock.
Avalanche Biotechnologies Company Profile
Adverum Biotechnologies, Inc, formerly Avalanche Biotechnologies, Inc, is a gene therapy company. The Company is engaged in discovering and developing medicines to patients suffering from chronic or debilitating disease. The Company operates and manages its business in the segment of developing and commercializing gene therapeutics.
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