Avalanche Biotechnologies Inc. (ADVM) Sees Strong Trading Volume
Shares of Avalanche Biotechnologies Inc. (NASDAQ:ADVM) saw unusually-high trading volume on Thursday . Approximately 1,018,465 shares were traded during mid-day trading, an increase of 96% from the previous session’s volume of 519,227 shares.The stock last traded at $4.76 and had previously closed at $4.33.
ADVM has been the topic of several research analyst reports. Zacks Investment Research raised Avalanche Biotechnologies from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a research note on Tuesday, May 17th. Chardan Capital lowered Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $7.50 to $5.00 in a report on Wednesday, June 8th. Finally, Cowen and Company assumed coverage on Avalanche Biotechnologies in a report on Friday, May 27th. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Avalanche Biotechnologies currently has a consensus rating of “Buy” and a consensus target price of $9.06.
The company’s market capitalization is $115.31 million. The firm has a 50 day moving average price of $3.37 and a 200-day moving average price of $4.60.
Avalanche Biotechnologies (NASDAQ:ADVM) last released its earnings results on Friday, May 6th. The company reported ($0.57) earnings per share for the quarter, missing the Zacks’ 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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