Avalanche Biotechnologies Inc. (ADVM) Stock Price Down 4%
Avalanche Biotechnologies Inc. (NASDAQ:ADVM) shares dropped 4% during mid-day trading on Wednesday . The stock traded as low as $3.53 and last traded at $3.59, with a volume of 90,313 shares. The stock had previously closed at $3.74.
Several research firms have weighed in on ADVM. Zacks Investment Research lowered shares of Avalanche Biotechnologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 25th. Jefferies Group reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Avalanche Biotechnologies in a research note on Wednesday, August 10th. Chardan Capital lowered 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. Piper Jaffray Cos. set a $9.00 price objective on shares of Avalanche Biotechnologies and gave the company a “buy” rating in a research note on Thursday, August 18th. Finally, Cowen and Company started coverage on shares of Avalanche Biotechnologies in a research note on Friday, May 27th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Avalanche Biotechnologies has an average rating of “Buy” and an average target price of $7.75.
The stock has a 50-day moving average price of $3.85 and a 200 day moving average price of $4.44. The company’s market cap is $147.54 million.
Avalanche Biotechnologies (NASDAQ:ADVM) last posted its earnings results on Tuesday, August 9th. The company reported ($1.76) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.38) by $1.38. Equities research analysts anticipate that Avalanche Biotechnologies Inc. will post ($2.33) 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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