Adverum Biotechnologies, Inc. (NASDAQ:ADVM – Get Free Report) major shareholder Braden Michael Leonard acquired 135,546 shares of the stock in a transaction dated Wednesday, July 17th. The stock was bought at an average price of $7.75 per share, for a total transaction of $1,050,481.50. Following the completion of the purchase, the insider now owns 2,101,546 shares in the company, valued at approximately $16,286,981.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Adverum Biotechnologies Stock Performance
ADVM traded up $0.70 during midday trading on Thursday, hitting $9.48. The company had a trading volume of 1,197,326 shares, compared to its average volume of 319,397. Adverum Biotechnologies, Inc. has a twelve month low of $6.38 and a twelve month high of $29.70. The firm’s 50-day simple moving average is $7.68 and its 200-day simple moving average is $11.72. The company has a market capitalization of $196.78 million, a PE ratio of -0.93 and a beta of 1.07.
Adverum Biotechnologies (NASDAQ:ADVM – Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.28) by ($0.22). As a group, sell-side analysts anticipate that Adverum Biotechnologies, Inc. will post -5.07 EPS for the current fiscal year.
Institutional Inflows and Outflows
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Adverum Biotechnologies in a research report on Friday, May 10th. StockNews.com upgraded shares of Adverum Biotechnologies from a “sell” rating to a “hold” rating in a research report on Monday, May 27th. Truist Financial restated a “buy” rating and issued a $60.00 price target on shares of Adverum Biotechnologies in a research report on Wednesday, May 15th. Mizuho dropped their price objective on shares of Adverum Biotechnologies from $40.00 to $22.00 and set a “buy” rating for the company in a report on Monday, April 29th. Finally, Chardan Capital boosted their target price on Adverum Biotechnologies from $4.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.40.
View Our Latest Research Report on Adverum Biotechnologies
About Adverum Biotechnologies
Adverum Biotechnologies, Inc, a clinical-stage company, develops gene therapy product candidates to treat ocular diseases. Its lead product candidate is ixoberogene soroparvovec (ADVM-022), a single intravitreal injection gene therapy candidate used for the treatment of patients with wet age-related macular degeneration and diabetic macular edema which is in phase 2 clinical trials.
Featured Stories
- Five stocks we like better than Adverum Biotechnologies
- What is Put Option Volume?
- This Cybersecurity Stock Gains Analysts’ Favor for Strong Growth
- Utilities Stocks Explained – How and Why to Invest in Utilities
- Parabolic Rise of This Stock Shows No Signs of Slowing
- Buy P&G Now, Before It Sets A New All-Time High
- Risk Tolerance vs. Risk Appetite: Key Differences
Receive News & Ratings for Adverum Biotechnologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adverum Biotechnologies and related companies with MarketBeat.com's FREE daily email newsletter.