Shares of Avalanche Biotechnologies Inc. (NASDAQ:ADVM) reached a new 52-week low during trading on Thursday . The stock traded as low as $3.00 and last traded at $3.04, with a volume of 169,531 shares. The stock had previously closed at $3.14.

Several analysts recently commented on ADVM shares. Zacks Investment Research raised Avalanche Biotechnologies from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a report on Tuesday, May 17th. Chardan Capital lowered 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 report on Wednesday, June 8th. Finally, Cowen and Company initiated coverage on Avalanche Biotechnologies in a report on Friday, May 27th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Avalanche Biotechnologies has an average rating of “Hold” and a consensus price target of $9.06.

The company’s 50 day moving average is $3.64 and its 200 day moving average is $5.05. The firm’s market cap is $82.48 million.

Avalanche Biotechnologies (NASDAQ:ADVM) last issued 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. On average, equities research analysts anticipate that Avalanche Biotechnologies Inc. will post ($1.81) EPS 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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