Goldman Sachs Group Inc. bought a new stake in Adverum Biotechnologies, Inc. (NASDAQ:ADVM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 168,032 shares of the biotechnology company’s stock, valued at approximately $420,000. Goldman Sachs Group Inc. owned 0.39% of Adverum Biotechnologies at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ADVM. Parametric Portfolio Associates LLC raised its stake in shares of Adverum Biotechnologies by 81.5% in the first quarter. Parametric Portfolio Associates LLC now owns 53,218 shares of the biotechnology company’s stock valued at $144,000 after buying an additional 23,898 shares during the period. California Public Employees Retirement System raised its stake 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 valued at $318,000 after buying an additional 65,900 shares during the period. Renaissance Technologies LLC raised its stake in shares of Adverum Biotechnologies by 17.8% in the first quarter. Renaissance Technologies LLC now owns 1,141,977 shares of the biotechnology company’s stock valued at $3,083,000 after buying an additional 172,277 shares during the period. Paloma Partners Management Co raised its stake in shares of Adverum Biotechnologies by 424.1% in the first quarter. Paloma Partners Management Co now owns 100,000 shares of the biotechnology company’s stock valued at $270,000 after buying an additional 80,920 shares during the period. Finally, LMR Partners LLP bought a new stake in shares of Adverum Biotechnologies in the second quarter valued at $244,000. Hedge funds and other institutional investors own 30.14% of the company’s stock.

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Several brokerages have issued reports on ADVM. ValuEngine lowered Adverum Biotechnologies from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 9th. Zacks Investment Research upgraded Adverum Biotechnologies from a “hold” rating to a “buy” rating and set a $2.75 price target for the company in a research report on Wednesday, August 16th. Chardan Capital reiterated a “hold” rating and issued a $3.50 price target on shares of Adverum Biotechnologies in a research report on Tuesday, September 5th. Finally, Raymond James Financial, Inc. started coverage on Adverum Biotechnologies in a research report on Thursday, October 12th. They issued an “outperform” rating and a $6.00 price target for the company.

Adverum Biotechnologies, Inc. (NASDAQ ADVM) opened at $3.10 on Wednesday. Adverum Biotechnologies, Inc. has a 52-week low of $2.40 and a 52-week high of $4.20.

Adverum Biotechnologies (NASDAQ:ADVM) last announced its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.03). The company had revenue of $0.46 million during the quarter. Adverum Biotechnologies had a negative net margin of 3,398.29% and a negative return on equity of 26.60%. research analysts expect that Adverum Biotechnologies, Inc. will post -1.31 EPS for the current fiscal year.

Adverum Biotechnologies Company Profile

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.

Institutional Ownership by Quarter for Adverum Biotechnologies (NASDAQ:ADVM)

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