Adverum Biotechnologies  Research Coverage Started at UBS Group

Adverum Biotechnologies (NASDAQ:ADVM) Research Coverage Started at UBS Group

UBS Group assumed coverage on shares of Adverum Biotechnologies (NASDAQ:ADVM) in a research report released on Tuesday, The Fly reports. The firm issued a neutral rating and a $13.00 price objective on the biotechnology company’s stock.

ADVM has been the subject of a number of other reports. BidaskClub downgraded Adverum Biotechnologies from a buy rating to a hold rating in a research note on Tuesday, December 8th. Zacks Investment Research upgraded Adverum Biotechnologies from a sell rating to a hold rating in a research note on Tuesday, October 13th. Lifesci Capital reiterated an outperform rating on shares of Adverum Biotechnologies in a research note on Thursday, November 5th. Finally, Raymond James upgraded Adverum Biotechnologies from an underperform rating to a market perform rating in a research note on Thursday, November 12th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of Buy and an average price target of $23.10.

ADVM stock opened at $12.71 on Tuesday. The business has a 50 day moving average price of $12.90 and a two-hundred day moving average price of $15.19. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -10.01 and a beta of 1.80. Adverum Biotechnologies has a twelve month low of $7.36 and a twelve month high of $26.98.

Adverum Biotechnologies (NASDAQ:ADVM) last posted its quarterly earnings results on Tuesday, November 10th. The biotechnology company reported ($0.31) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.03. On average, equities analysts forecast that Adverum Biotechnologies will post -1.31 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Adverum Biotechnologies by 15.1% during the 3rd quarter. BlackRock Inc. now owns 6,802,150 shares of the biotechnology company’s stock worth $70,062,000 after purchasing an additional 891,466 shares during the last quarter. RTW Investments LP lifted its holdings in Adverum Biotechnologies by 2.4% during the 2nd quarter. RTW Investments LP now owns 6,790,027 shares of the biotechnology company’s stock worth $141,776,000 after purchasing an additional 158,400 shares during the last quarter. State Street Corp lifted its holdings in Adverum Biotechnologies by 61.9% during the 3rd quarter. State Street Corp now owns 5,627,389 shares of the biotechnology company’s stock worth $57,962,000 after purchasing an additional 2,152,273 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Adverum Biotechnologies by 21.0% during the 2nd quarter. Vanguard Group Inc. now owns 3,846,430 shares of the biotechnology company’s stock worth $80,312,000 after purchasing an additional 668,175 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Adverum Biotechnologies by 25.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,139,697 shares of the biotechnology company’s stock worth $23,797,000 after purchasing an additional 232,819 shares during the last quarter. 84.20% 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.

The Fly

Analyst Recommendations for Adverum Biotechnologies (NASDAQ:ADVM)

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