Adverum Biotechnologies, Inc. (NASDAQ:ADVM – Get Rating) CEO Laurent Fischer sold 41,082 shares of the firm's stock in a transaction on Monday, September 19th. The shares were sold at an average price of $1.07, for a total value of $43,957.74. Following the completion of the transaction, the chief executive officer now owns 727,380 shares of the company's stock, valued at approximately $778,296.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Adverum Biotechnologies Stock Performance

Adverum Biotechnologies stock traded up $0.03 during midday trading on Wednesday, reaching $1.05. 671,102 shares of the company were exchanged, compared to its average volume of 1,105,356. The company has a market capitalization of $103.71 million, a price-to-earnings ratio of -0.67 and a beta of 1.14. The firm's 50-day simple moving average is $1.35 and its 200-day simple moving average is $1.21. Adverum Biotechnologies, Inc. has a 1 year low of $0.80 and a 1 year high of $2.52.

Adverum Biotechnologies (NASDAQ:ADVM – Get Rating) last posted its quarterly earnings data on Thursday, August 11th. The biotechnology company reported ($0.44) EPS for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.06). On average, analysts forecast that Adverum Biotechnologies, Inc. will post -1.5 EPS for the current fiscal year.

Analyst Ratings Changes

Institutional Trading of Adverum Biotechnologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADVM. BNP Paribas Arbitrage SA grew its holdings in Adverum Biotechnologies by 872.0% in the 4th quarter. BNP Paribas Arbitrage SA now owns 175,109 shares of the biotechnology company's stock valued at $308,000 after buying an additional 157,093 shares during the period. Rafferty Asset Management LLC grew its holdings in Adverum Biotechnologies by 47.9% in the 4th quarter. Rafferty Asset Management LLC now owns 49,107 shares of the biotechnology company's stock valued at $86,000 after buying an additional 15,908 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Adverum Biotechnologies in the 4th quarter valued at about $919,000. Quinn Opportunity Partners LLC lifted its stake in shares of Adverum Biotechnologies by 102.8% in the 4th quarter. Quinn Opportunity Partners LLC now owns 503,004 shares of the biotechnology company's stock valued at $885,000 after purchasing an additional 255,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of 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 purchasing an additional 553,155 shares in the last quarter. Hedge funds and other institutional investors own 64.26% of the company's stock.

About Adverum Biotechnologies

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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.

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