Equities analysts expect Adverum Biotechnologies Inc (NASDAQ:ADVM) to report sales of $390,000.00 for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Adverum Biotechnologies’ earnings, with estimates ranging from $260,000.00 to $500,000.00. Adverum Biotechnologies reported sales of $460,000.00 during the same quarter last year, which would suggest a negative year over year growth rate of 15.2%. The firm is expected to report its next quarterly earnings results on Tuesday, March 5th.

On average, analysts expect that Adverum Biotechnologies will report full-year sales of $1.86 million for the current fiscal year, with estimates ranging from $1.70 million to $2.00 million. For the next year, analysts anticipate that the business will post sales of $1.26 million, with estimates ranging from $640,000.00 to $1.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Adverum Biotechnologies.

Adverum Biotechnologies (NASDAQ:ADVM) last released its earnings results on Thursday, November 8th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). The company had revenue of $0.83 million during the quarter, compared to analyst estimates of $0.27 million. Adverum Biotechnologies had a negative net margin of 3,582.48% and a negative return on equity of 30.38%.

A number of equities analysts have weighed in on ADVM shares. Zacks Investment Research raised Adverum Biotechnologies from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a research report on Monday, August 27th. Cantor Fitzgerald started coverage on Adverum Biotechnologies in a research report on Thursday, September 20th. They set an “overweight” rating and a $12.00 price target on the stock. Piper Jaffray Companies set a $8.00 price target on Adverum Biotechnologies and gave the stock a “buy” rating in a research report on Friday, November 2nd. Chardan Capital reissued a “hold” rating and set a $8.00 price target on shares of Adverum Biotechnologies in a research report on Thursday, August 9th. Finally, BidaskClub raised Adverum Biotechnologies from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 31st. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Adverum Biotechnologies has an average rating of “Hold” and an average target price of $6.30.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley lifted its position in Adverum Biotechnologies by 61.5% in the 3rd quarter. Morgan Stanley now owns 224,867 shares of the biotechnology company’s stock valued at $1,361,000 after acquiring an additional 85,656 shares in the last quarter. Teachers Advisors LLC lifted its position in Adverum Biotechnologies by 12.7% in the 3rd quarter. Teachers Advisors LLC now owns 117,797 shares of the biotechnology company’s stock valued at $713,000 after acquiring an additional 13,287 shares in the last quarter. Exane Asset Management lifted its position in Adverum Biotechnologies by 36.0% in the 3rd quarter. Exane Asset Management now owns 68,000 shares of the biotechnology company’s stock valued at $411,000 after acquiring an additional 18,000 shares in the last quarter. AQR Capital Management LLC lifted its position in Adverum Biotechnologies by 300.0% in the 3rd quarter. AQR Capital Management LLC now owns 139,078 shares of the biotechnology company’s stock valued at $841,000 after acquiring an additional 104,306 shares in the last quarter. Finally, MetLife Investment Advisors LLC lifted its position in Adverum Biotechnologies by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 43,973 shares of the biotechnology company’s stock valued at $266,000 after acquiring an additional 15,632 shares in the last quarter. Hedge funds and other institutional investors own 58.11% of the company’s stock.

Shares of NASDAQ:ADVM traded up $0.13 during midday trading on Friday, reaching $3.75. The company had a trading volume of 2,119 shares, compared to its average volume of 1,171,276. The company has a market cap of $232.61 million, a P/E ratio of -2.81 and a beta of 3.83. Adverum Biotechnologies has a 1-year low of $2.62 and a 1-year high of $8.59.

About Adverum Biotechnologies

Adverum Biotechnologies, Inc, a clinical-stage gene therapy company, engages in developing gene therapy product candidates that target serious rare and ocular diseases. It leverages its adeno-associated virus (AAV)-based directed evolution platform to develop products. The company's pipeline of product candidates include ADVM-043 to treat alpha-1 antitrypsin deficiency, which is in Phase I/II clinical trial; and ADVM-053 for hereditary angioedema disease, which is in preclinical stage; as well as ADVM-022 and ADVM-032 for wet age-related macular degeneration disease, which are in preclinical stage.

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