Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Expected to Post Earnings of -$0.42 Per Share

Analysts expect Adverum Biotechnologies, Inc. (NASDAQ:ADVM) to post earnings of ($0.42) per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Adverum Biotechnologies’ earnings, with the highest EPS estimate coming in at ($0.41) and the lowest estimate coming in at ($0.43). Adverum Biotechnologies posted earnings of ($0.39) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 7.7%. The company is expected to announce its next earnings report on Monday, March 7th.

On average, analysts expect that Adverum Biotechnologies will report full year earnings of ($1.58) per share for the current fiscal year, with EPS estimates ranging from ($1.62) to ($1.55). For the next year, analysts forecast that the business will post earnings of ($1.48) per share, with EPS estimates ranging from ($1.75) to ($1.30). Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Adverum Biotechnologies.

Adverum Biotechnologies (NASDAQ:ADVM) last released its quarterly earnings data on Thursday, November 4th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.01).

A number of research analysts recently weighed in on ADVM shares. SVB Leerink reissued a “hold” rating on shares of Adverum Biotechnologies in a report on Tuesday, October 12th. Zacks Investment Research lowered Adverum Biotechnologies from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Royal Bank of Canada reissued a “hold” rating and set a $6.00 target price on shares of Adverum Biotechnologies in a report on Friday, July 30th. Ten investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Adverum Biotechnologies has an average rating of “Hold” and a consensus price target of $5.91.

In other Adverum Biotechnologies news, Director James Paul Scopa sold 50,000 shares of the company’s stock in a transaction on Monday, November 15th. The stock was sold at an average price of $2.18, for a total value of $109,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 12.40% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Adverum Biotechnologies by 0.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 616,913 shares of the biotechnology company’s stock worth $2,160,000 after buying an additional 5,805 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of Adverum Biotechnologies by 26.2% during the 3rd quarter. Squarepoint Ops LLC now owns 33,825 shares of the biotechnology company’s stock worth $73,000 after buying an additional 7,018 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Adverum Biotechnologies by 159.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 12,280 shares of the biotechnology company’s stock worth $43,000 after buying an additional 7,550 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Adverum Biotechnologies by 349.9% during the 1st quarter. Royal Bank of Canada now owns 10,163 shares of the biotechnology company’s stock worth $100,000 after buying an additional 7,904 shares during the last quarter. Finally, Virginia Retirement Systems ET AL lifted its position in shares of Adverum Biotechnologies by 23.0% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 42,800 shares of the biotechnology company’s stock worth $93,000 after buying an additional 8,000 shares during the last quarter. Hedge funds and other institutional investors own 72.93% of the company’s stock.

Shares of ADVM stock traded up $0.01 during trading on Thursday, reaching $2.03. 514,781 shares of the company’s stock were exchanged, compared to its average volume of 1,984,080. The stock has a market capitalization of $199.25 million, a PE ratio of -1.34 and a beta of 1.10. Adverum Biotechnologies has a twelve month low of $1.89 and a twelve month high of $14.79. The firm’s fifty day moving average price is $2.15 and its 200-day moving average price is $2.71.

Adverum Biotechnologies Company Profile

Adverum Biotechnologies, Inc is a clinical-stage gene therapy company that engages in the development of gene therapies for ocular and rare diseases. The company was founded by Mark S. Blumenkranz, Thomas W. Chalberg, Jr., Mitchell H. Finer, and Steven Daniel Schwartz on July 17, 2006 and is headquartered in Redwood City, CA.

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Earnings History and Estimates for Adverum Biotechnologies (NASDAQ:ADVM)

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