Avalanche Biotechnologies Inc. (ADVM) Stock Price Down 2.8%
Shares of Avalanche Biotechnologies Inc. (NASDAQ:ADVM) fell 2.8% during trading on Wednesday . The stock traded as low as $3.06 and last traded at $3.08, with a volume of 137,782 shares changing hands. The stock had previously closed at $3.17.
Several research firms recently commented on ADVM. Chardan Capital lowered shares of Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and dropped their price target for the company from $7.50 to $5.00 in a research report on Wednesday, June 8th. Cowen and Company began coverage on shares of Avalanche Biotechnologies in a research report on Friday, May 27th. They set an “outperform” rating on the stock. Finally, Zacks Investment Research lowered shares of Avalanche Biotechnologies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Avalanche Biotechnologies has an average rating of “Buy” and an average target price of $9.06.
The company’s 50 day moving average is $3.81 and its 200-day moving average is $5.26. The firm’s market capitalization is $84.65 million.
Avalanche Biotechnologies (NASDAQ:ADVM) last released its quarterly earnings results on Friday, May 6th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by $0.18. Analysts forecast that Avalanche Biotechnologies Inc. will post ($1.81) 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.