Avalanche Biotechnologies Inc. (ADVM) Sees Strong Trading Volume
Avalanche Biotechnologies Inc. (NASDAQ:ADVM) shares saw an uptick in trading volume on Monday . 285,621 shares were traded during mid-day trading, an increase of 51% from the previous session’s volume of 189,642 shares.The stock last traded at $3.34 and had previously closed at $3.23.
Several research firms have weighed in on ADVM. Zacks Investment Research lowered Avalanche Biotechnologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 25th. Chardan Capital lowered Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and cut their target price for the company from $7.50 to $5.00 in a research note on Wednesday, June 8th. Finally, Cowen and Company began coverage on Avalanche Biotechnologies in a research note on Friday, May 27th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Avalanche Biotechnologies currently has an average rating of “Buy” and a consensus target price of $9.06.
The firm’s market cap is $88.18 million. The company has a 50 day moving average price of $3.40 and a 200-day moving average price of $4.73.
Avalanche Biotechnologies (NASDAQ:ADVM) last announced its quarterly earnings results on Friday, May 6th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.39) by $0.18. On average, 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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