Analysts predict that Adverum Biotechnologies Inc (NASDAQ:ADVM) will post ($0.27) earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for Adverum Biotechnologies’ earnings, with the lowest EPS estimate coming in at ($0.30) and the highest estimate coming in at ($0.24). Adverum Biotechnologies posted earnings per share of ($0.26) in the same quarter last year, which would indicate a negative year over year growth rate of 3.8%. The company is scheduled to issue its next quarterly earnings results on Thursday, November 14th.
According to Zacks, analysts expect that Adverum Biotechnologies will report full-year earnings of ($1.02) per share for the current financial year, with EPS estimates ranging from ($1.20) to ($0.95). For the next fiscal year, analysts forecast that the business will report earnings of ($1.13) per share, with EPS estimates ranging from ($1.22) to ($1.08). Zacks’ EPS averages are an average based on a survey of sell-side analysts that cover Adverum Biotechnologies.
Adverum Biotechnologies (NASDAQ:ADVM) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($0.23) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.08. Adverum Biotechnologies had a negative return on equity of 31.21% and a negative net margin of 4,505.40%.
ADVM has been the topic of a number of recent research reports. Zacks Investment Research lowered Adverum Biotechnologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Chardan Capital dropped their target price on Adverum Biotechnologies from $10.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday. Raymond James initiated coverage on Adverum Biotechnologies in a report on Thursday, June 13th. They set a “market perform” rating on the stock. Cowen reaffirmed a “buy” rating on shares of Adverum Biotechnologies in a report on Tuesday, July 9th. Finally, SunTrust Banks decreased their target price on shares of Adverum Biotechnologies from $12.00 to $8.00 and set a “hold” rating for the company in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $9.60.
Large investors have recently bought and sold shares of the stock. Bank of Montreal Can bought a new stake in shares of Adverum Biotechnologies during the 2nd quarter valued at about $54,000. SG Americas Securities LLC acquired a new position in shares of Adverum Biotechnologies during the 1st quarter worth $60,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Adverum Biotechnologies by 94.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 16,504 shares of the biotechnology company’s stock worth $86,000 after buying an additional 8,038 shares during the period. Metropolitan Life Insurance Co NY bought a new stake in shares of Adverum Biotechnologies during the 1st quarter worth $108,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Adverum Biotechnologies by 372.1% during the 2nd quarter. Meeder Asset Management Inc. now owns 10,694 shares of the biotechnology company’s stock worth $127,000 after buying an additional 8,429 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.
ADVM traded up $0.04 during trading hours on Monday, reaching $5.82. The company’s stock had a trading volume of 37,990 shares, compared to its average volume of 2,392,147. The company has a debt-to-equity ratio of 0.12, a current ratio of 17.79 and a quick ratio of 17.79. The business’s 50-day moving average is $11.75 and its 200-day moving average is $9.24. Adverum Biotechnologies has a fifty-two week low of $2.62 and a fifty-two week high of $16.38. The stock has a market cap of $384.18 million, a PE ratio of -4.94 and a beta of 2.49.
Adverum Biotechnologies Company Profile
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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