Adverum Biotechnologies (NASDAQ:ADVM) Rating Reiterated by Chardan Capital

Adverum Biotechnologies (NASDAQ:ADVM)‘s stock had its “hold” rating restated by investment analysts at Chardan Capital in a research note issued to investors on Monday, AnalystRatings.com reports. They presently have a $10.00 target price on the biotechnology company’s stock. Chardan Capital’s price objective points to a potential downside of 13.79% from the stock’s previous close.

ADVM has been the subject of a number of other research reports. SunTrust Banks raised their price objective on Adverum Biotechnologies to $12.00 and gave the company a “hold” rating in a research report on Monday, July 29th. They noted that the move was a valuation call. Zacks Investment Research lowered Adverum Biotechnologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Cowen restated a “buy” rating on shares of Adverum Biotechnologies in a research report on Tuesday, July 9th. ValuEngine upgraded Adverum Biotechnologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 18th. Finally, Piper Jaffray Companies raised their price objective on Adverum Biotechnologies from $8.00 to $12.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $11.20.

Shares of Adverum Biotechnologies stock opened at $11.60 on Monday. The firm has a market cap of $863.75 million, a price-to-earnings ratio of -9.83 and a beta of 2.42. The business has a 50-day moving average price of $13.16 and a 200-day moving average price of $8.39. The company has a quick ratio of 17.79, a current ratio of 17.79 and a debt-to-equity ratio of 0.12. Adverum Biotechnologies has a twelve month low of $2.62 and a twelve month high of $16.38.

Adverum Biotechnologies (NASDAQ:ADVM) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.23) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.08. Adverum Biotechnologies had a negative return on equity of 31.21% and a negative net margin of 4,505.40%. On average, equities analysts expect that Adverum Biotechnologies will post -1.04 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of ADVM. Dimensional Fund Advisors LP raised its stake in shares of Adverum Biotechnologies by 7.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,768,246 shares of the biotechnology company’s stock valued at $5,570,000 after buying an additional 126,514 shares during the period. Geode Capital Management LLC raised its stake in shares of Adverum Biotechnologies by 19.7% in the fourth quarter. Geode Capital Management LLC now owns 698,600 shares of the biotechnology company’s stock valued at $2,200,000 after buying an additional 115,171 shares during the period. Bank of America Corp DE raised its stake in shares of Adverum Biotechnologies by 185.8% in the fourth quarter. Bank of America Corp DE now owns 40,501 shares of the biotechnology company’s stock valued at $128,000 after buying an additional 26,330 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Adverum Biotechnologies by 94.9% in the first quarter. BNP Paribas Arbitrage SA now owns 16,504 shares of the biotechnology company’s stock valued at $86,000 after buying an additional 8,038 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Adverum Biotechnologies in the first quarter valued at $60,000. Hedge funds and other institutional investors own 60.08% of the company’s stock.

About Adverum Biotechnologies

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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Analyst Recommendations for Adverum Biotechnologies (NASDAQ:ADVM)

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