Adverum Biotechnologies (NASDAQ:ADVM) CEO Laurent Fischer Purchases 11,085 Shares of Stock

Adverum Biotechnologies, Inc. (NASDAQ:ADVM) CEO Laurent Fischer purchased 11,085 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were purchased at an average cost of $4.24 per share, for a total transaction of $47,000.40. Following the completion of the purchase, the chief executive officer directly owned 83,899 shares in the company, valued at $355,731.76. The trade was a 15.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Laurent Fischer also recently made the following trade(s):

• On Monday, December 8th, Laurent Fischer acquired 117,614 shares of Adverum Biotechnologies stock. The stock was purchased at an average cost of $4.31 per share, with a total value of $506,916.34.

Adverum Biotechnologies Stock Performance

Shares of ADVM opened at $4.36 on Tuesday. Adverum Biotechnologies, Inc. has a 1 year low of $1.78 and a 1 year high of $6.12. The company’s 50 day simple moving average is $4.41 and its 200 day simple moving average is $3.35. The company has a market capitalization of $96.26 million, a price-to-earnings ratio of -0.51 and a beta of 0.87.

Adverum Biotechnologies (NASDAQ:ADVM) last released its earnings results on Wednesday, November 12th. The biotechnology company reported ($2.03) EPS for the quarter, missing the consensus estimate of ($1.80) by ($0.23). Equities analysts expect that Adverum Biotechnologies, Inc. will post -4.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Adverum Biotechnologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Two Sigma Investments LP increased its position in Adverum Biotechnologies by 372.7% during the 3rd quarter. Two Sigma Investments LP now owns 88,670 shares of the biotechnology company’s stock worth $402,000 after purchasing an additional 69,913 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in Adverum Biotechnologies during the third quarter valued at approximately $58,000. Jane Street Group LLC purchased a new stake in Adverum Biotechnologies during the second quarter worth approximately $153,000. Qube Research & Technologies Ltd purchased a new stake in Adverum Biotechnologies during the second quarter worth approximately $66,000. Finally, Marshall Wace LLP acquired a new stake in shares of Adverum Biotechnologies in the second quarter worth $107,000. 48.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Chardan Capital lowered Adverum Biotechnologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Royal Bank Of Canada set a $4.00 price target on Adverum Biotechnologies in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adverum Biotechnologies in a research note on Wednesday, October 8th. HC Wainwright reiterated a “neutral” rating and set a $5.00 price objective (down from $30.00) on shares of Adverum Biotechnologies in a report on Monday, November 17th. Finally, Mizuho set a $5.50 target price on shares of Adverum Biotechnologies in a research report on Wednesday, October 29th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Adverum Biotechnologies currently has a consensus rating of “Hold” and an average target price of $10.50.

About Adverum Biotechnologies

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.