Avalanche Biotechnologies Inc. (ADVM) Shares Down 4%
Avalanche Biotechnologies Inc. (NASDAQ:ADVM)’s share price traded down 4% during mid-day trading on Wednesday . The stock traded as low as $3.53 and last traded at $3.59, with a volume of 90,313 shares changing hands. The stock had previously closed at $3.74.
Several equities analysts have recently issued reports on the company. Chardan Capital lowered Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and cut their price target for the company from $7.50 to $5.00 in a research note on Wednesday, June 8th. Jefferies Group reiterated a “buy” rating and issued a $12.00 price objective on shares of Avalanche Biotechnologies in a report on Wednesday, August 10th. Piper Jaffray Cos. set a $9.00 price objective on Avalanche Biotechnologies and gave the company a “buy” rating in a report on Thursday, August 18th. Zacks Investment Research downgraded Avalanche Biotechnologies from a “buy” rating to a “hold” rating in a report on Wednesday, May 25th. Finally, Cowen and Company initiated coverage on Avalanche Biotechnologies in a report on Friday, May 27th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Avalanche Biotechnologies presently has an average rating of “Buy” and a consensus price target of $7.75.
The company’s market capitalization is $148.03 million. The company’s 50 day moving average price is $3.83 and its 200-day moving average price is $4.45.
Avalanche Biotechnologies (NASDAQ:ADVM) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($1.76) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.38) by $1.38. Analysts expect 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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