Avalanche Biotechnologies Inc. (NASDAQ:ADVM) shot up 3.4% during mid-day trading on Wednesday . The company traded as high as $4.60 and last traded at $4.56, with a volume of 99,920 shares traded. The stock had previously closed at $4.41.

A number of brokerages recently issued reports on ADVM. Cowen and Company began coverage on shares of Avalanche Biotechnologies in a report on Friday, May 27th. They issued an “outperform” rating for the company. Jefferies Group reiterated a “buy” rating and issued a $12.00 price objective on shares of Avalanche Biotechnologies in a report on Wednesday. Zacks Investment Research cut shares of Avalanche Biotechnologies from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. Finally, Chardan Capital cut shares of Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $7.50 to $5.00 in a report on Wednesday, June 8th. 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 an average price target of $9.06.

The stock’s 50 day moving average price is $3.50 and its 200-day moving average price is $4.55. The stock’s market capitalization is $126.70 million.

Avalanche Biotechnologies (NASDAQ:ADVM) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($1.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by $1.38. On average, equities analysts predict that Avalanche Biotechnologies Inc. will post ($1.81) EPS 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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