Adverum Biotechnologies (NASDAQ:ADVM) PT Lowered to $8.00 at SunTrust Banks

Share on StockTwits

Adverum Biotechnologies (NASDAQ:ADVM) had its price target reduced by SunTrust Banks from $12.00 to $8.00 in a research note published on Friday morning, BenzingaRatingsTable reports. SunTrust Banks currently has a hold rating on the biotechnology company’s stock.

ADVM has been the subject of a number of other reports. Raymond James started coverage on Adverum Biotechnologies in a report on Thursday, June 13th. They set a market perform rating for the company. ValuEngine cut Adverum Biotechnologies from a buy rating to a hold rating in a report on Thursday, September 12th. Chardan Capital cut their price objective on Adverum Biotechnologies from $10.00 to $6.00 and set a neutral rating for the company in a report on Friday. Zacks Investment Research cut Adverum Biotechnologies from a strong-buy rating to a hold rating in a report on Tuesday, July 30th. Finally, Cowen reissued a buy rating on shares of Adverum Biotechnologies in a report on Tuesday, July 9th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Adverum Biotechnologies presently has an average rating of Hold and a consensus price target of $9.60.

Shares of NASDAQ ADVM opened at $6.29 on Friday. The stock has a market cap of $384.18 million, a PE ratio of -5.33 and a beta of 2.49. The business has a fifty day moving average of $11.27 and a two-hundred day moving average of $9.26. Adverum Biotechnologies has a 52-week low of $2.62 and a 52-week high of $16.38. The company has a debt-to-equity ratio of 0.12, a quick ratio of 17.79 and a current ratio of 17.79.

Adverum Biotechnologies (NASDAQ:ADVM) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, beating the Zacks’ 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%. Analysts predict that Adverum Biotechnologies will post -1.02 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can bought a new position in shares of Adverum Biotechnologies in the second quarter valued at about $54,000. Meeder Asset Management Inc. raised its holdings in shares of Adverum Biotechnologies by 372.1% in the second quarter. Meeder Asset Management Inc. now owns 10,694 shares of the biotechnology company’s stock valued at $127,000 after buying an additional 8,429 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Adverum Biotechnologies in the first quarter valued at about $60,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in shares of Adverum Biotechnologies in the second quarter valued at about $151,000. Finally, TD Asset Management Inc. bought a new position in shares of Adverum Biotechnologies in the second quarter valued at about $174,000. 71.78% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: What can cause a stock to outperform?

Analyst Recommendations for Adverum Biotechnologies (NASDAQ:ADVM)

Receive News & Ratings for Adverum Biotechnologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adverum Biotechnologies and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Wowbit  Achieves Market Cap of $2.05 Million
Wowbit Achieves Market Cap of $2.05 Million
Pirl Price Hits $0.0096
Pirl Price Hits $0.0096
Weekly Research Analysts’ Ratings Updates for STMicroelectronics
Weekly Research Analysts’ Ratings Updates for STMicroelectronics
Zacks: Brokerages Anticipate RPC, Inc.  Will Post Quarterly Sales of $345.56 Million
Zacks: Brokerages Anticipate RPC, Inc. Will Post Quarterly Sales of $345.56 Million
GSI Technology  Raised to “Sell” at ValuEngine
GSI Technology Raised to “Sell” at ValuEngine
Dover  Lowered to Sell at ValuEngine
Dover Lowered to Sell at ValuEngine


 
© 2006-2019 Zolmax.