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

ADVM has been the subject of a number of recent research reports. Cowen and Company initiated coverage on shares of Avalanche Biotechnologies in a research note on Friday, May 27th. They set an “outperform” rating for the company. Zacks Investment Research cut shares of Avalanche Biotechnologies from a “buy” rating to a “hold” rating in a research note on Monday, April 4th. Finally, Chardan Capital cut shares of Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $7.50 to $5.00 in a research note on Wednesday, June 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Avalanche Biotechnologies currently has an average rating of “Hold” and an average price target of $9.06.

The stock’s market capitalization is $86.55 million. The company has a 50 day moving average of $3.61 and a 200-day moving average of $5.01.

Avalanche Biotechnologies (NASDAQ:ADVM) last posted its quarterly earnings data on Friday, May 6th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by $0.18. On average, equities analysts expect that Avalanche Biotechnologies Inc. will post ($1.81) 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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