Avalanche Biotechnologies Inc. (ADVM) Shares Down 4.1%
Shares of Avalanche Biotechnologies Inc. (NASDAQ:ADVM) traded down 4.1% on Tuesday . The stock traded as low as $3.03 and last traded at $3.06, with a volume of 136,595 shares. The stock had previously closed at $3.19.
Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of Avalanche Biotechnologies from a “buy” rating to a “hold” rating in a research note on Monday, April 4th. Cowen and Company assumed coverage on shares of Avalanche Biotechnologies in a research note on Friday, May 27th. They issued an “outperform” rating on the stock. Finally, Chardan Capital cut shares of Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $7.50 to $5.00 in a research note on Wednesday, June 8th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Avalanche Biotechnologies has a consensus rating of “Buy” and an average price target of $9.06.
The company’s 50 day moving average price is $3.56 and its 200 day moving average price is $4.88. The stock’s market cap is $83.29 million.
Avalanche Biotechnologies (NASDAQ:ADVM) last announced its earnings results on Friday, May 6th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.39) by $0.18. Equities analysts expect that Avalanche Biotechnologies Inc. will post ($1.81) EPS for the current fiscal 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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