Cowen restated their buy rating on shares of Adverum Biotechnologies (NASDAQ:ADVM) in a research note released on Thursday morning, AnalystRatings.com reports.
Other equities analysts also recently issued research reports about the company. ValuEngine downgraded Adverum Biotechnologies from a buy rating to a hold rating in a research report on Friday, May 3rd. BidaskClub raised Adverum Biotechnologies from a buy rating to a strong-buy rating in a research report on Thursday, April 25th. Finally, Zacks Investment Research downgraded Adverum Biotechnologies from a buy rating to a hold rating in a research report on Wednesday, March 13th. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Adverum Biotechnologies currently has a consensus rating of Hold and a consensus target price of $6.55.
NASDAQ:ADVM traded up $0.18 during trading hours on Thursday, reaching $8.31. 72,096 shares of the stock were exchanged, compared to its average volume of 358,528. Adverum Biotechnologies has a twelve month low of $2.62 and a twelve month high of $8.18. The company has a quick ratio of 18.20, a current ratio of 18.20 and a debt-to-equity ratio of 0.12. The company has a market cap of $409.15 million, a P/E ratio of -7.23 and a beta of 3.24.
In related news, Director James Paul Scopa acquired 20,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was bought at an average price of $6.71 per share, with a total value of $134,200.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADVM. Acadian Asset Management LLC acquired a new stake in shares of Adverum Biotechnologies in the 1st quarter valued at approximately $53,000. Parametric Portfolio Associates LLC acquired a new stake in shares of Adverum Biotechnologies in the 1st quarter valued at approximately $57,000. SG Americas Securities LLC acquired a new stake in shares of Adverum Biotechnologies in the 1st quarter valued at approximately $60,000. Virtu Financial LLC acquired a new stake in shares of Adverum Biotechnologies in the 4th quarter valued at approximately $66,000. Finally, BNP Paribas Arbitrage SA raised its stake in Adverum Biotechnologies by 94.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 16,504 shares of the biotechnology company’s stock valued at $86,000 after acquiring an additional 8,038 shares during the period. 59.75% of the stock is owned by institutional investors.
About Adverum Biotechnologies
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.
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