Avalanche Biotechnologies Inc. (ADVM) Sees Strong Trading Volume
Avalanche Biotechnologies Inc. (NASDAQ:ADVM) shares saw unusually-high trading volume on Thursday . Approximately 1,018,465 shares were traded during trading, an increase of 96% from the previous session’s volume of 519,227 shares.The stock last traded at $4.76 and had previously closed at $4.33.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised Avalanche Biotechnologies from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a research note on Tuesday, May 17th. Cowen and Company assumed coverage on Avalanche Biotechnologies in a research note on Friday, May 27th. They issued an “outperform” rating on the stock. Finally, Chardan Capital downgraded Avalanche Biotechnologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $7.50 to $5.00 in a research note on Wednesday, June 8th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Avalanche Biotechnologies presently has an average rating of “Buy” and a consensus target price of $9.06.
The company’s market cap is $127.52 million. The firm’s 50-day moving average price is $3.35 and its 200 day moving average price is $4.60.
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 the consensus estimate of ($0.39) by $0.18. On average, analysts predict 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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