Avalanche Biotechnologies Inc. (ADVM) Stock Price Down 6.9%
Avalanche Biotechnologies Inc. (NASDAQ:ADVM) traded down 6.9% on Monday . The stock traded as low as $3.31 and last traded at $3.37, with a volume of 302,140 shares traded. The stock had previously closed at $3.62.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Avalanche Biotechnologies from a “sell” rating to a “hold” rating in a research report on Tuesday, July 19th. Chardan Capital cut shares of Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $7.50 to $5.00 in a research report on Wednesday, June 8th. Finally, Cowen and Company assumed coverage on shares of Avalanche Biotechnologies in a research report on Friday, May 27th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $9.06.
The stock’s market cap is $95.50 million. The firm’s 50-day moving average price is $3.29 and its 200-day moving average price is $4.60.
Avalanche Biotechnologies (NASDAQ:ADVM) last issued its quarterly earnings data on Friday, May 6th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by $0.18. On average, equities analysts expect that Avalanche Biotechnologies Inc. will post ($1.81) EPS 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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