Avalanche Biotechnologies Inc. (ADVM) Shares Down 4.8%
Shares of Avalanche Biotechnologies Inc. (NASDAQ:ADVM) fell 4.8% on Tuesday . The stock traded as low as $4.37 and last traded at $4.53, with a volume of 77,411 shares trading hands. The stock had previously closed at $4.76.
Several brokerages recently weighed in on ADVM. Jefferies Group reaffirmed a “buy” rating and issued a $12.00 target price on shares of Avalanche Biotechnologies in a report on Wednesday, August 10th. Zacks Investment Research raised shares of Avalanche Biotechnologies from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Wednesday. Cowen and Company began coverage on shares of Avalanche Biotechnologies in a report on Friday, May 27th. They issued an “outperform” rating on the stock. Finally, Chardan Capital cut shares of Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and reduced their target price for the company from $7.50 to $5.00 in a report on Wednesday, June 8th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Avalanche Biotechnologies has a consensus rating of “Buy” and a consensus price target of $9.25.
The company’s 50-day moving average is $3.65 and its 200 day moving average is $4.49. The company’s market cap is $176.56 million.
Avalanche Biotechnologies (NASDAQ:ADVM) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($1.76) EPS for the quarter, missing the consensus estimate of ($0.38) by $1.38. Equities research analysts anticipate that Avalanche Biotechnologies Inc. will post ($2.33) 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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