Adverum Biotechnologies, Inc. (NASDAQ:ADVM – Get Rating)'s stock price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $1.35 and traded as low as $1.02. Adverum Biotechnologies shares last traded at $1.02, with a volume of 477,944 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ADVM shares. StockNews.com lowered Adverum Biotechnologies from a "hold" rating to a "sell" rating in a research note on Wednesday, August 3rd. Truist Financial raised Adverum Biotechnologies from a "hold" rating to a "buy" rating and boosted their price target for the stock from $3.00 to $4.00 in a research note on Thursday, July 7th. Finally, Chardan Capital reduced their target price on Adverum Biotechnologies from $3.00 to $2.50 and set a "neutral" rating on the stock in a research note on Friday, August 12th.

Adverum Biotechnologies Trading Down 3.3 %

The business has a 50 day moving average of $1.35 and a 200-day moving average of $1.21. The stock has a market cap of $100.75 million, a PE ratio of -0.65 and a beta of 1.14.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ADVM. Millennium Management LLC acquired a new position in Adverum Biotechnologies in the 2nd quarter valued at $1,246,000. Renaissance Technologies LLC raised its holdings in Adverum Biotechnologies by 175.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,093,041 shares of the biotechnology company's stock valued at $1,312,000 after acquiring an additional 696,600 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Adverum Biotechnologies by 125.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 992,729 shares of the biotechnology company's stock valued at $1,300,000 after acquiring an additional 553,155 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Adverum Biotechnologies in the 4th quarter valued at $919,000. Finally, Monaco Asset Management SAM acquired a new position in Adverum Biotechnologies in the 2nd quarter valued at $536,000. 64.26% of the stock is currently owned by institutional investors and hedge funds.

About Adverum Biotechnologies

(Get Rating)

Adverum Biotechnologies, Inc, a clinical-stage gene therapy company, develops gene therapy product candidates to treat ocular and rare diseases. Its lead product candidate is ADVM-022, a single intravitreal injection gene therapy candidate used for the treatment of patients with chronic retinal, including wet age-related macular degeneration and diabetic macular edema.

Read More

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