Shares of Avalanche Biotechnologies Inc. (NASDAQ:ADVM) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $2.99 and last traded at $3.04, with a volume of 125,749 shares traded. The stock had previously closed at $3.05.

ADVM has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Avalanche Biotechnologies from a “buy” rating to a “hold” rating in a research note on Monday, April 4th. Cowen and Company assumed coverage on shares of Avalanche Biotechnologies in a research note on Friday, May 27th. They set an “outperform” rating on the stock. Finally, Chardan Capital lowered shares of Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and cut their target price for the stock from $7.50 to $5.00 in a research note on Wednesday, June 8th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Avalanche Biotechnologies currently has a consensus rating of “Buy” and a consensus price target of $9.06.

The stock’s market cap is $87.63 million. The firm has a 50 day moving average price of $3.43 and a 200-day moving average price of $4.81.

Avalanche Biotechnologies (NASDAQ:ADVM) last issued its quarterly earnings results 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. Equities research analysts predict that Avalanche Biotechnologies Inc. will post ($1.81) 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.