Adverum Biotechnologies Inc (ADVM) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its stake in shares of Adverum Biotechnologies Inc (NASDAQ:ADVM) by 7.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,768,246 shares of the biotechnology company’s stock after purchasing an additional 126,514 shares during the period. Dimensional Fund Advisors LP’s holdings in Adverum Biotechnologies were worth $5,570,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Teachers Advisors LLC raised its position in shares of Adverum Biotechnologies by 12.7% during the third quarter. Teachers Advisors LLC now owns 117,797 shares of the biotechnology company’s stock valued at $713,000 after buying an additional 13,287 shares during the last quarter. Algert Global LLC raised its position in shares of Adverum Biotechnologies by 18.4% during the fourth quarter. Algert Global LLC now owns 94,113 shares of the biotechnology company’s stock valued at $296,000 after buying an additional 14,653 shares during the last quarter. MetLife Investment Advisors LLC raised its position in shares of Adverum Biotechnologies by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 43,973 shares of the biotechnology company’s stock valued at $266,000 after buying an additional 15,632 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Adverum Biotechnologies during the fourth quarter valued at about $66,000. Finally, Wells Fargo & Company MN raised its position in shares of Adverum Biotechnologies by 169.5% during the third quarter. Wells Fargo & Company MN now owns 34,142 shares of the biotechnology company’s stock valued at $206,000 after buying an additional 21,474 shares during the last quarter. 59.47% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently weighed in on ADVM shares. BidaskClub raised shares of Adverum Biotechnologies from a “hold” rating to a “buy” rating in a research note on Wednesday, March 6th. Zacks Investment Research cut shares of Adverum Biotechnologies from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Finally, ValuEngine raised shares of Adverum Biotechnologies from a “hold” rating to a “buy” rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $6.55.

NASDAQ ADVM opened at $6.65 on Friday. The stock has a market capitalization of $420.29 million, a P/E ratio of -5.64 and a beta of 3.18. Adverum Biotechnologies Inc has a twelve month low of $2.62 and a twelve month high of $7.72.

Adverum Biotechnologies (NASDAQ:ADVM) last posted its earnings results on Wednesday, March 6th. The biotechnology company reported ($0.25) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.04. The business had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $0.39 million. Adverum Biotechnologies had a negative net margin of 4,505.40% and a negative return on equity of 30.18%. On average, equities analysts expect that Adverum Biotechnologies Inc will post -1.13 EPS for the current year.

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Adverum Biotechnologies Company Profile

Adverum Biotechnologies, Inc, a clinical-stage gene therapy company, engages in developing gene therapy product candidates to treat ocular and rare diseases. Its pipeline of product candidates includes ADVM-022, an adeno- associated virus (AAV). 7m8-aflibercept for the treatment of wet age-related macular degeneration; ADVM-043, an investigational gene therapy candidate for the treatment of alpha-1 antitrypsin deficiency; and ADVM-053, a preclinical gene therapy product candidate for the treatment of hereditary angioedema.

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Institutional Ownership by Quarter for Adverum Biotechnologies (NASDAQ:ADVM)

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