Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Given Average Recommendation of “Hold” by Brokerages

Shares of Adverum Biotechnologies, Inc. (NASDAQ:ADVM) have earned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $10.50.

A number of research firms have recently issued reports on ADVM. Royal Bank Of Canada set a $4.00 target price on shares of Adverum Biotechnologies in a research note on Tuesday, October 28th. Wall Street Zen downgraded shares of Adverum Biotechnologies to a “strong sell” rating in a research report on Saturday, December 13th. Mizuho set a $5.50 price objective on Adverum Biotechnologies in a report on Wednesday, October 29th. HC Wainwright reiterated a “neutral” rating and set a $5.00 target price (down previously from $30.00) on shares of Adverum Biotechnologies in a research note on Monday, November 17th. Finally, Truist Financial set a $5.00 price target on Adverum Biotechnologies in a research note on Friday, October 24th.

Insider Activity at Adverum Biotechnologies

In other Adverum Biotechnologies news, CEO Laurent Fischer purchased 117,614 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were acquired at an average cost of $4.31 per share, with a total value of $506,916.34. Following the completion of the transaction, the chief executive officer owned 201,513 shares in the company, valued at $868,521.03. The trade was a 140.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Peter Soparkar acquired 50,000 shares of the business’s stock in a transaction on Friday, December 5th. The stock was acquired at an average cost of $4.22 per share, with a total value of $211,000.00. Following the acquisition, the chief operating officer directly owned 80,189 shares in the company, valued at approximately $338,397.58. This trade represents a 165.62% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 178,699 shares of company stock worth $764,917 and have sold 1,099,446 shares worth $4,605,740. 6.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Adverum Biotechnologies

A number of hedge funds have recently added to or reduced their stakes in ADVM. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Adverum Biotechnologies during the 3rd quarter valued at $58,000. Y Intercept Hong Kong Ltd acquired a new position in Adverum Biotechnologies in the second quarter valued at about $45,000. XTX Topco Ltd bought a new stake in Adverum Biotechnologies during the second quarter worth about $64,000. Qube Research & Technologies Ltd acquired a new stake in Adverum Biotechnologies during the second quarter worth about $66,000. Finally, AQR Capital Management LLC bought a new position in Adverum Biotechnologies in the 1st quarter valued at about $148,000. Institutional investors own 48.17% of the company’s stock.

Adverum Biotechnologies Stock Up 2.3%

ADVM opened at $4.36 on Friday. Adverum Biotechnologies has a 12-month low of $1.78 and a 12-month high of $6.12. The business has a 50 day moving average of $4.29 and a 200-day moving average of $3.67. The stock has a market cap of $96.26 million, a price-to-earnings ratio of -0.51 and a beta of 0.87.

Adverum Biotechnologies (NASDAQ:ADVM) last posted its quarterly earnings results on Wednesday, November 12th. The biotechnology company reported ($2.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.80) by ($0.23). As a group, analysts expect that Adverum Biotechnologies will post -4.92 earnings per share for the current year.

Adverum Biotechnologies Company Profile

Adverum Biotechnologies is a clinical-stage gene therapy company focused on the discovery, development and delivery of novel treatments for ocular and rare diseases. Utilizing adeno-associated virus (AAV)–based vectors, the company seeks to deliver long-lasting, one-time therapies designed to address underlying genetic causes of vision loss and other conditions. Its proprietary platform combines engineering of AAV capsids for targeted tissue tropism with optimized expression cassettes, aiming to improve safety and durability over current standards of care.

The company’s lead programs target retinal disorders, including wet age-related macular degeneration (wet AMD) and diabetic retinopathy, through intravitreal administration of AAV vectors expressing therapeutic proteins.