Renaissance Technologies LLC Increases Stake in Adverum Biotechnologies, Inc. (ADVM)
Renaissance Technologies LLC raised its position in Adverum Biotechnologies, Inc. (NASDAQ:ADVM) by 17.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,141,977 shares of the biotechnology company’s stock after buying an additional 172,277 shares during the period. Renaissance Technologies LLC’s holdings in Adverum Biotechnologies were worth $3,083,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the company. Primecap Management Co. CA increased its position in shares of Adverum Biotechnologies by 3.5% in the first quarter. Primecap Management Co. CA now owns 440,400 shares of the biotechnology company’s stock worth $1,189,000 after buying an additional 14,800 shares in the last quarter. AWM Investment Company Inc. purchased a new position in shares of Adverum Biotechnologies during the first quarter worth approximately $540,000. Norges Bank purchased a new position in shares of Adverum Biotechnologies during the fourth quarter worth approximately $485,000. California Public Employees Retirement System increased its position in shares of Adverum Biotechnologies by 126.7% in the first quarter. California Public Employees Retirement System now owns 117,900 shares of the biotechnology company’s stock worth $318,000 after buying an additional 65,900 shares in the last quarter. Finally, TFS Capital LLC increased its position in shares of Adverum Biotechnologies by 332.3% in the first quarter. TFS Capital LLC now owns 89,156 shares of the biotechnology company’s stock worth $241,000 after buying an additional 68,532 shares in the last quarter. 32.35% of the stock is owned by institutional investors.
Shares of Adverum Biotechnologies, Inc. (NASDAQ ADVM) remained flat at $2.55 during trading on Friday. The stock had a trading volume of 65,402 shares. Adverum Biotechnologies, Inc. has a 12 month low of $2.45 and a 12 month high of $4.79. The company has a 50-day moving average price of $2.58 and a 200-day moving average price of $2.72. The stock’s market cap is $109.32 million.
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ADVM has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Adverum Biotechnologies from a “sell” rating to a “hold” rating in a report on Monday, July 17th. ValuEngine downgraded shares of Adverum Biotechnologies from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd.
About Adverum Biotechnologies
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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