Avalanche Biotechnologies Inc. (ADVM) Shares Up 3.8%
Avalanche Biotechnologies Inc. (NASDAQ:ADVM) shot up 3.8% during trading on Tuesday . The stock traded as high as $4.45 and last traded at $4.40, with a volume of 57,415 shares trading hands. The stock had previously closed at $4.24.
Several brokerages have issued reports on ADVM. Piper Jaffray Cos. set a $9.00 price target on Avalanche Biotechnologies and gave the stock a “buy” rating in a report on Thursday, August 18th. Zacks Investment Research upgraded Avalanche Biotechnologies from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Wednesday, August 17th. Jefferies Group reiterated a “buy” rating and issued a $12.00 price target on shares of Avalanche Biotechnologies in a report on Wednesday, August 10th. Chardan Capital lowered Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and cut their price target for the stock from $7.50 to $5.00 in a report on Wednesday, June 8th. Finally, Cowen and Company began coverage on Avalanche Biotechnologies in a report on Friday, May 27th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Avalanche Biotechnologies has a consensus rating of “Buy” and an average price target of $7.75.
The firm’s 50-day moving average price is $3.76 and its 200-day moving average price is $4.48. The company’s market cap is $184.83 million.
Avalanche Biotechnologies (NASDAQ:ADVM) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($1.76) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by $1.38. Equities research analysts forecast 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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