Avalanche Biotechnologies Inc. (ADVM) Trading 17.5% Higher
Shares of Avalanche Biotechnologies Inc. (NASDAQ:ADVM) traded up 17.5% during mid-day trading on Wednesday . The stock traded as high as $4.34 and last traded at $4.16, with a volume of 880,856 shares traded. The stock had previously closed at $3.54.
Several analysts have issued reports on the stock. Chardan Capital lowered shares of Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $7.50 to $5.00 in a research report on Wednesday, June 8th. Zacks Investment Research lowered shares of Avalanche Biotechnologies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th. Finally, Cowen and Company assumed coverage on shares of Avalanche Biotechnologies in a research report 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 given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $9.06.
The firm’s 50 day moving average is $3.29 and its 200 day moving average is $4.60. The firm’s market cap is $117.48 million.
Avalanche Biotechnologies (NASDAQ:ADVM) last announced its earnings results on Friday, May 6th. The company reported ($0.57) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by $0.18. Equities research analysts anticipate that Avalanche Biotechnologies Inc. will post ($1.81) earnings per share 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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