Avalanche Biotechnologies Inc. (ADVM) Trading Down 2.5%
Avalanche Biotechnologies Inc. (NASDAQ:ADVM) dropped 2.5% during trading on Tuesday . The stock traded as low as $3.13 and last traded at $3.17, with a volume of 192,129 shares trading hands. The stock had previously closed at $3.25.
ADVM has been the topic of several analyst reports. Zacks Investment Research upgraded 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 downgraded Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and dropped their target price for the company from $7.50 to $5.00 in a report on Wednesday, June 8th. Finally, Cowen and Company started coverage on Avalanche Biotechnologies in a report on Friday, May 27th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $9.06.
The stock has a 50 day moving average of $3.36 and a 200-day moving average of $4.70. The firm’s market cap is $87.90 million.
Avalanche Biotechnologies (NASDAQ:ADVM) last announced its quarterly earnings data on Friday, May 6th. The company reported ($0.57) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.39) by $0.18. Analysts anticipate 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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