Avalanche Biotechnologies Inc. (ADVM) Stock Price Up 5.2%
Avalanche Biotechnologies Inc. (NASDAQ:ADVM)’s share price rose 5.2% during trading on Friday . The company traded as high as $3.24 and last traded at $3.21, with a volume of 174,782 shares traded. The stock had previously closed at $3.05.
ADVM has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Avalanche Biotechnologies from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a report on Tuesday, May 17th. Chardan Capital downgraded shares of Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $7.50 to $5.00 in a report on Wednesday, June 8th. Finally, Cowen and Company initiated coverage on shares of Avalanche Biotechnologies in a report on Friday, May 27th. They set an “outperform” rating for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Avalanche Biotechnologies currently has an average rating of “Buy” and a consensus price target of $9.06.
The stock’s market capitalization is $87.63 million. The stock’s 50-day moving average is $3.43 and its 200 day moving average is $4.81.
Avalanche Biotechnologies (NASDAQ:ADVM) last issued its earnings results on Friday, May 6th. The company reported ($0.57) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by $0.18. On average, analysts predict 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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