Avalanche Biotechnologies Inc. (NASDAQ:ADVM)’s share price dropped 1.8% during trading on Wednesday . The company traded as low as $4.33 and last traded at $4.39, with a volume of 59,948 shares changing hands. The stock had previously closed at $4.47.

Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of 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. Piper Jaffray Cos. set a $9.00 price objective on shares of Avalanche Biotechnologies and gave the company a “buy” rating in a research note on Thursday, August 18th. Jefferies Group reissued a “buy” rating and issued a $12.00 price objective on shares of Avalanche Biotechnologies in a research note on Wednesday, August 10th. Chardan Capital cut shares of Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $7.50 to $5.00 in a research note on Wednesday, June 8th. Finally, Cowen and Company assumed coverage on shares of Avalanche Biotechnologies in a research note on Friday, May 27th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $7.75.

The firm has a 50-day moving average price of $3.76 and a 200-day moving average price of $4.48. The company’s market cap is $167.46 million.

Avalanche Biotechnologies (NASDAQ:ADVM) last released its earnings results 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 analysts predict that Avalanche Biotechnologies Inc. will post ($2.33) 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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