Avalanche Biotechnologies Inc. (ADVM) Trading Down 6.9%
Avalanche Biotechnologies Inc. (NASDAQ:ADVM) shares fell 6.9% during trading on Monday . The stock traded as low as $3.31 and last traded at $3.37, with a volume of 302,140 shares. The stock had previously closed at $3.62.
Several research firms have commented on ADVM. Zacks Investment Research downgraded Avalanche Biotechnologies from a “buy” rating to a “hold” rating in a report on Wednesday, May 25th. Chardan Capital downgraded 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 began coverage on Avalanche Biotechnologies in a report on Friday, May 27th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Avalanche Biotechnologies has a consensus rating of “Buy” and a consensus target price of $9.06.
The stock’s 50-day moving average price is $3.30 and its 200 day moving average price is $4.66. The company’s market cap is $94.69 million.
Avalanche Biotechnologies (NASDAQ:ADVM) last posted 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 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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