Shares of Avalanche Biotechnologies Inc. (NASDAQ:ADVM) were up 2.6% on Friday . The company traded as high as $3.13 and last traded at $3.12, with a volume of 58,009 shares traded. The stock had previously closed at $3.04.

Several analysts have weighed in on ADVM shares. Cowen and Company started coverage on Avalanche Biotechnologies in a research report on Friday, May 27th. They issued an “outperform” rating for the company. Zacks Investment Research downgraded Avalanche Biotechnologies from a “buy” rating to a “hold” rating in a research report on Monday, April 4th. Finally, Chardan Capital downgraded Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $7.50 to $5.00 in a research report on Wednesday, June 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Avalanche Biotechnologies has a consensus rating of “Hold” and a consensus price target of $9.06.

The firm’s market capitalization is $86.55 million. The company’s 50-day moving average price is $3.61 and its 200 day moving average price is $5.01.

Avalanche Biotechnologies (NASDAQ:ADVM) last released its earnings results on Friday, May 6th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by $0.18. Analysts expect that Avalanche Biotechnologies Inc. will post ($1.81) EPS for the current year.

Adverum Biotechnologies, Inc, formerly Avalanche Biotechnologies, Inc, is a gene therapy company. The Company is engaged in discovering and developing medicines to patients suffering from chronic or debilitating disease. The Company operates and manages its business in the segment of developing and commercializing gene therapeutics.

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