Avalanche Biotechnologies Inc. (ADVM) Trading Down 1.8%
Shares of Avalanche Biotechnologies Inc. (NASDAQ:ADVM) fell 1.8% on Wednesday . The stock traded as low as $4.33 and last traded at $4.39, with a volume of 59,948 shares trading hands. The stock had previously closed at $4.47.
Several research firms have recently weighed in on ADVM. Zacks Investment Research downgraded shares of Avalanche Biotechnologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 25th. Jefferies Group reaffirmed a “buy” rating and set a $12.00 price target on shares of Avalanche Biotechnologies in a research note on Wednesday, August 10th. Chardan Capital downgraded shares of Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and decreased their price target for the company from $7.50 to $5.00 in a research note on Wednesday, June 8th. Piper Jaffray Cos. set a $9.00 price target on shares of Avalanche Biotechnologies and gave the company a “buy” rating in a research note on Thursday, August 18th. Finally, Cowen and Company began coverage on shares of Avalanche Biotechnologies in a research note on Friday, May 27th. They set an “outperform” rating for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $7.75.
The firm’s market capitalization is $152.16 million. The company has a 50-day moving average price of $3.80 and a 200 day moving average price of $4.47.
Avalanche Biotechnologies (NASDAQ:ADVM) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($1.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by $1.38. On average, 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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