Avalanche Biotechnologies Inc. (ADVM) Sees Large Volume Increase
Shares of Avalanche Biotechnologies Inc. (NASDAQ:ADVM) saw strong trading volume on Monday . 288,400 shares traded hands during trading, an increase of 75% from the previous session’s volume of 165,101 shares.The stock last traded at $3.74 and had previously closed at $3.55.
Several research analysts have issued reports on the stock. Piper Jaffray Cos. set a $9.00 price target on shares of Avalanche Biotechnologies and gave the stock a “buy” rating in a report on Thursday, August 18th. Jefferies Group reiterated a “buy” rating and issued a $12.00 price objective on shares of Avalanche Biotechnologies in a research note on Wednesday, August 10th. Cowen and Company initiated coverage on shares of Avalanche Biotechnologies in a research note on Friday, May 27th. They issued an “outperform” rating for the company. Chardan Capital lowered shares of Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $7.50 to $5.00 in a research note on Wednesday, June 8th. Finally, Zacks Investment Research upgraded shares of Avalanche Biotechnologies from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research note on Wednesday, August 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $7.75.
The company’s 50 day moving average price is $3.87 and its 200 day moving average price is $4.43. The firm’s market capitalization is $154.64 million.
Avalanche Biotechnologies (NASDAQ:ADVM) last issued its earnings results on Tuesday, August 9th. The company reported ($1.76) earnings per share (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) earnings per share 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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