Avalanche Biotechnologies Inc. (ADVM) Trading 5.2% Higher
Avalanche Biotechnologies Inc. (NASDAQ:ADVM) shares traded up 5.2% during mid-day trading on Friday . The stock traded as high as $3.24 and last traded at $3.21, with a volume of 174,782 shares. The stock had previously closed at $3.05.
Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Avalanche Biotechnologies from a “sell” rating to a “hold” rating in a report on Tuesday. Cowen and Company assumed coverage on shares of Avalanche Biotechnologies in a report on Friday, May 27th. They issued an “outperform” rating for the company. Finally, Chardan Capital cut shares of Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $7.50 to $5.00 in a report on Wednesday, June 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $9.06.
The stock’s 50 day moving average is $3.47 and its 200 day moving average is $4.85. The company’s market cap is $87.63 million.
Avalanche Biotechnologies (NASDAQ:ADVM) last issued 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. Equities research analysts forecast 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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