Analysts Set Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Target Price at $10.50

Adverum Biotechnologies, Inc. (NASDAQ:ADVM) has received an average recommendation of “Hold” from the six research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $10.50.

Several equities analysts have recently issued reports on ADVM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adverum Biotechnologies in a report on Wednesday, October 8th. Wall Street Zen cut shares of Adverum Biotechnologies to a “strong sell” rating in a report on Saturday, December 13th. Truist Financial set a $5.00 price target on Adverum Biotechnologies in a research report on Friday, October 24th. Chardan Capital lowered Adverum Biotechnologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Finally, HC Wainwright restated a “neutral” rating and set a $5.00 target price (down previously from $30.00) on shares of Adverum Biotechnologies in a research report on Monday, November 17th.

Adverum Biotechnologies Stock Up 2.3%

Shares of ADVM stock opened at $4.36 on Wednesday. The firm has a 50 day moving average of $4.28 and a 200-day moving average of $3.50. The company has a market cap of $96.26 million, a price-to-earnings ratio of -0.51 and a beta of 0.87. Adverum Biotechnologies has a 52 week low of $1.78 and a 52 week high of $6.12.

Adverum Biotechnologies (NASDAQ:ADVM) last issued its quarterly earnings data on Wednesday, November 12th. The biotechnology company reported ($2.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.80) by ($0.23). Analysts anticipate that Adverum Biotechnologies will post -4.92 earnings per share for the current year.

Insider Activity at Adverum Biotechnologies

In other Adverum Biotechnologies news, major shareholder Braden Michael Leonard sold 524,560 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $4.19, for a total transaction of $2,197,906.40. Following the sale, the insider owned 1,958,080 shares in the company, valued at $8,204,355.20. This trade represents a 21.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Peter Soparkar bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was purchased at an average price of $4.22 per share, with a total value of $211,000.00. Following the transaction, the chief operating officer directly owned 80,189 shares in the company, valued at $338,397.58. The trade was a 165.62% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 178,699 shares of company stock valued at $764,917 and sold 1,099,446 shares valued at $4,605,740. 6.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Adverum Biotechnologies

Institutional investors have recently bought and sold shares of the stock. BML Capital Management LLC increased its position in shares of Adverum Biotechnologies by 11.5% in the second quarter. BML Capital Management LLC now owns 3,057,526 shares of the biotechnology company’s stock valued at $6,574,000 after acquiring an additional 315,209 shares during the period. Jane Street Group LLC purchased a new position in shares of Adverum Biotechnologies in the 2nd quarter valued at approximately $153,000. Two Sigma Investments LP raised its holdings in Adverum Biotechnologies by 372.7% in the third quarter. Two Sigma Investments LP now owns 88,670 shares of the biotechnology company’s stock worth $402,000 after purchasing an additional 69,913 shares in the last quarter. Pale Fire Capital SE increased its stake in shares of Adverum Biotechnologies by 16.9% in the 1st quarter. Pale Fire Capital SE now owns 368,267 shares of the biotechnology company’s stock worth $1,609,000 after acquiring an additional 53,113 shares in the last quarter. Finally, Invesco Ltd. purchased a new position in Adverum Biotechnologies during the 1st quarter valued at about $218,000. 48.17% of the stock is currently owned by hedge funds and other institutional investors.

Adverum Biotechnologies Company Profile

Adverum Biotechnologies is a clinical-stage gene therapy company focused on the discovery, development and delivery of novel treatments for ocular and rare diseases. Utilizing adeno-associated virus (AAV)–based vectors, the company seeks to deliver long-lasting, one-time therapies designed to address underlying genetic causes of vision loss and other conditions. Its proprietary platform combines engineering of AAV capsids for targeted tissue tropism with optimized expression cassettes, aiming to improve safety and durability over current standards of care.

The company’s lead programs target retinal disorders, including wet age-related macular degeneration (wet AMD) and diabetic retinopathy, through intravitreal administration of AAV vectors expressing therapeutic proteins.