Avalanche Biotechnologies Inc. (ADVM) Stock Price Up 10.2%
Avalanche Biotechnologies Inc. (NASDAQ:ADVM) shares rose 10.2% during trading on Thursday . The stock traded as high as $3.69 and last traded at $3.67, with a volume of 680,161 shares. The stock had previously closed at $3.33.
ADVM has been the subject of several analyst reports. Cowen and Company initiated coverage on Avalanche Biotechnologies in a research note on Friday, May 27th. They issued an “outperform” rating for the company. Zacks Investment Research upgraded Avalanche Biotechnologies from a “sell” rating to a “hold” rating in a research note on Tuesday, July 19th. Finally, Chardan Capital downgraded 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 analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Avalanche Biotechnologies currently has an average rating of “Buy” and a consensus price target of $9.06.
The stock’s 50 day moving average price is $3.33 and its 200 day moving average price is $4.69. The firm’s market capitalization is $98.21 million.
Avalanche Biotechnologies (NASDAQ:ADVM) last announced 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. Analysts forecast that Avalanche Biotechnologies Inc. will post ($1.81) earnings per share 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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