Cowen reissued their buy rating on shares of Adverum Biotechnologies (NASDAQ:ADVM) in a research report report published on Tuesday morning, AnalystRatings.com reports.
A number of other analysts also recently weighed in on ADVM. Raymond James began coverage on Adverum Biotechnologies in a research report on Thursday, June 13th. They set a market perform rating for the company. Piper Jaffray Companies upped their price objective on Adverum Biotechnologies from $8.00 to $12.00 and gave the stock an overweight rating in a research report on Friday, May 17th. Zacks Investment Research upgraded HAYS PLC/ADR from a sell rating to a hold rating in a research report on Tuesday, June 18th. BidaskClub downgraded Zynga from a buy rating to a hold rating in a research report on Tuesday, June 18th. Finally, ValuEngine downgraded Zymeworks from a buy rating to a hold rating in a research report on Saturday, May 18th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $8.10.
NASDAQ:ADVM opened at $15.35 on Tuesday. The firm’s fifty day moving average is $11.20. The company has a market cap of $998.17 million, a P/E ratio of -13.01 and a beta of 2.41. The company has a current ratio of 18.20, a quick ratio of 18.20 and a debt-to-equity ratio of 0.12. Adverum Biotechnologies has a fifty-two week low of $2.62 and a fifty-two week high of $16.20.
Adverum Biotechnologies (NASDAQ:ADVM) last released its earnings results on Wednesday, May 8th. The biotechnology company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.04. Adverum Biotechnologies had a negative return on equity of 30.98% and a negative net margin of 4,505.40%. On average, analysts expect that Adverum Biotechnologies will post -1.11 EPS for the current fiscal year.
In other Adverum Biotechnologies news, Director James Paul Scopa acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $6.71 per share, for a total transaction of $134,200.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.20% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in ADVM. RTW Investments LP raised its position in Adverum Biotechnologies by 3,285.4% in the fourth quarter. RTW Investments LP now owns 6,256,840 shares of the biotechnology company’s stock valued at $19,709,000 after purchasing an additional 6,072,019 shares during the last quarter. BlackRock Inc. raised its position in Adverum Biotechnologies by 20.4% in the fourth quarter. BlackRock Inc. now owns 4,443,970 shares of the biotechnology company’s stock valued at $14,000,000 after purchasing an additional 753,735 shares during the last quarter. JPMorgan Chase & Co. raised its position in Adverum Biotechnologies by 12.7% in the first quarter. JPMorgan Chase & Co. now owns 3,297,793 shares of the biotechnology company’s stock valued at $17,281,000 after purchasing an additional 371,461 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Adverum Biotechnologies by 7.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,768,246 shares of the biotechnology company’s stock valued at $5,570,000 after purchasing an additional 126,514 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Adverum Biotechnologies by 19.7% in the fourth quarter. Geode Capital Management LLC now owns 698,600 shares of the biotechnology company’s stock valued at $2,200,000 after purchasing an additional 115,171 shares during the last quarter. Institutional investors and hedge funds own 60.97% of the company’s stock.
About Adverum Biotechnologies
Adverum Biotechnologies, Inc, a clinical-stage gene therapy company, engages in developing gene therapy product candidates to treat ocular and rare diseases. Its pipeline of product candidates includes ADVM-022, an adeno- associated virus (AAV). 7m8-aflibercept for the treatment of wet age-related macular degeneration; ADVM-043, an investigational gene therapy candidate for the treatment of alpha-1 antitrypsin deficiency; and ADVM-053, a preclinical gene therapy product candidate for the treatment of hereditary angioedema.
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