Braden Michael Leonard Purchases 30,600 Shares of Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Stock

Adverum Biotechnologies, Inc. (NASDAQ:ADVM) major shareholder Braden Michael Leonard bought 30,600 shares of the stock in a transaction dated Thursday, March 20th. The shares were bought at an average cost of $5.61 per share, with a total value of $171,666.00. Following the completion of the acquisition, the insider now directly owns 2,722,761 shares of the company’s stock, valued at approximately $15,274,689.21. The trade was a 1.14 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Braden Michael Leonard also recently made the following trade(s):

• On Tuesday, March 18th, Braden Michael Leonard bought 62,341 shares of Adverum Biotechnologies stock. The shares were bought at an average cost of $4.69 per share, with a total value of $292,379.29.

Adverum Biotechnologies Price Performance

Shares of ADVM stock opened at $5.10 on Friday. Adverum Biotechnologies, Inc. has a 12-month low of $3.52 and a 12-month high of $16.48. The firm has a market capitalization of $106.09 million, a price-to-earnings ratio of -0.85 and a beta of 1.14. The business has a 50 day simple moving average of $4.43 and a 200 day simple moving average of $5.84.

Analyst Ratings Changes

Separately, StockNews.com lowered Adverum Biotechnologies from a “hold” rating to a “sell” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.83.

Hedge Funds Weigh In On Adverum Biotechnologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its holdings in Adverum Biotechnologies by 46.5% in the 4th quarter. Millennium Management LLC now owns 42,847 shares of the biotechnology company’s stock worth $200,000 after buying an additional 13,608 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in Adverum Biotechnologies during the 4th quarter valued at $222,000. Corton Capital Inc. bought a new position in Adverum Biotechnologies during the 4th quarter valued at $153,000. Bank of America Corp DE boosted its stake in Adverum Biotechnologies by 16.3% during the 4th quarter. Bank of America Corp DE now owns 43,576 shares of the biotechnology company’s stock valued at $204,000 after purchasing an additional 6,094 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Adverum Biotechnologies by 50.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 311,005 shares of the biotechnology company’s stock valued at $1,452,000 after purchasing an additional 104,262 shares in the last quarter. 48.17% of the stock is owned by institutional investors.

Adverum Biotechnologies Company Profile

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.