Avalanche Biotechnologies Inc. (ADVM) Trading 17.5% Higher
Avalanche Biotechnologies Inc. (NASDAQ:ADVM) shares traded up 17.5% during mid-day trading on Wednesday . The stock traded as high as $4.34 and last traded at $4.16, with a volume of 880,856 shares. The stock had previously closed at $3.54.
Several research analysts have recently issued reports on the company. Zacks Investment Research upgraded Avalanche Biotechnologies from a “sell” rating to a “hold” rating in a research note on Tuesday, July 19th. Chardan Capital cut 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 research note on Wednesday, June 8th. Finally, Cowen and Company assumed coverage on Avalanche Biotechnologies in a research note on Friday, May 27th. They issued an “outperform” rating for the company. Two equities research 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 an average price target of $9.06.
The firm’s 50-day moving average is $3.35 and its 200 day moving average is $4.60. The company’s market capitalization is $127.52 million.
Avalanche Biotechnologies (NASDAQ:ADVM) last released its earnings results on Friday, May 6th. The company reported ($0.57) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by $0.18. On average, equities analysts predict that Avalanche Biotechnologies Inc. will post ($1.81) EPS 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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