Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Adverum Biotechnologies, Inc. (NASDAQ:ADVM) have been given a consensus rating of “Hold” by the six brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $10.50.

A number of research firms have issued reports on ADVM. Mizuho set a $5.50 target price on Adverum Biotechnologies in a research report on Wednesday, October 29th. Wall Street Zen lowered shares of Adverum Biotechnologies to a “strong sell” rating in a report on Saturday, December 13th. Truist Financial set a $5.00 price objective on shares of Adverum Biotechnologies in a research note on Friday, October 24th. HC Wainwright reaffirmed a “neutral” rating and set a $5.00 target price (down previously from $30.00) on shares of Adverum Biotechnologies in a research note on Monday, November 17th. Finally, Chardan Capital downgraded shares of Adverum Biotechnologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th.

Insider Activity

In other Adverum Biotechnologies news, CEO Laurent Fischer acquired 117,614 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was acquired at an average price of $4.31 per share, for a total transaction of $506,916.34. Following the acquisition, the chief executive officer directly owned 201,513 shares in the company, valued at $868,521.03. This represents a 140.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Braden Michael Leonard sold 524,560 shares of Adverum Biotechnologies stock in a transaction that occurred on 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 approximately $8,204,355.20. This represents a 21.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have bought 178,699 shares of company stock valued at $764,917 and have sold 1,099,446 shares valued at $4,605,740. Insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On Adverum Biotechnologies

A number of hedge funds have recently modified their holdings of ADVM. BML Capital Management LLC lifted its holdings in Adverum Biotechnologies by 11.5% during the 2nd quarter. BML Capital Management LLC now owns 3,057,526 shares of the biotechnology company’s stock worth $6,574,000 after buying an additional 315,209 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Adverum Biotechnologies in the second quarter valued at approximately $45,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Adverum Biotechnologies during the 3rd quarter valued at approximately $58,000. Two Sigma Investments LP raised its holdings in Adverum Biotechnologies by 372.7% during the 3rd 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 during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Adverum Biotechnologies in the 2nd quarter worth approximately $153,000. Institutional investors and hedge funds own 48.17% of the company’s stock.

Adverum Biotechnologies Price Performance

Shares of ADVM opened at $4.36 on Friday. The firm has a 50 day simple moving average of $4.29 and a two-hundred day simple moving average of $3.67. Adverum Biotechnologies has a one year low of $1.78 and a one year high of $6.12. The company has a market cap of $96.26 million, a P/E ratio of -0.51 and a beta of 0.87.

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

About Adverum Biotechnologies

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.