Avalanche Biotechnologies Inc. (NASDAQ:ADVM) shares hit a new 52-week low on Thursday . The stock traded as low as $2.99 and last traded at $3.04, with a volume of 125,749 shares traded. The stock had previously closed at $3.05.

Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Avalanche Biotechnologies from a “sell” rating to a “hold” rating in a research note on Tuesday. Cowen and Company assumed coverage on shares of Avalanche Biotechnologies in a research note on Friday, May 27th. They set an “outperform” rating on the stock. Finally, Chardan Capital cut shares of Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $7.50 to $5.00 in a research note on Wednesday, June 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $9.06.

The company’s 50 day moving average is $3.51 and its 200 day moving average is $4.87. The stock’s market cap is $82.75 million.

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