Avalanche Biotechnologies Inc. (ADVM) Stock Price Up 10.2%
Avalanche Biotechnologies Inc. (NASDAQ:ADVM)’s share price 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 trading hands. The stock had previously closed at $3.33.
ADVM has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Avalanche Biotechnologies from a “sell” rating to a “hold” rating in a research note on Tuesday, July 19th. Chardan Capital cut shares of Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $7.50 to $5.00 in a research note on Wednesday, June 8th. Finally, 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Avalanche Biotechnologies has a consensus rating of “Buy” and an average price target of $9.06.
The company’s market capitalization is $98.21 million. The company has a 50-day moving average price of $3.30 and a 200-day moving average price of $4.66.
Avalanche Biotechnologies (NASDAQ:ADVM) last posted its quarterly earnings data on Friday, May 6th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.39) by $0.18. Equities analysts expect 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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