Analysts forecast that Adverum Biotechnologies Inc (NASDAQ:ADVM) will post earnings of ($0.28) per share for the current quarter, Zacks reports. Three analysts have made estimates for Adverum Biotechnologies’ earnings. The highest EPS estimate is ($0.26) and the lowest is ($0.31). Adverum Biotechnologies reported earnings per share of ($0.32) during the same quarter last year, which suggests a positive year over year growth rate of 12.5%. The business is scheduled to report its next earnings report on Tuesday, March 5th.
On average, analysts expect that Adverum Biotechnologies will report full year earnings of ($1.22) per share for the current year, with EPS estimates ranging from ($1.25) to ($1.19). For the next fiscal year, analysts anticipate that the business will report earnings of ($1.14) per share, with EPS estimates ranging from ($1.48) to ($0.70). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Adverum Biotechnologies.
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ADVM has been the subject of a number of recent research reports. Raymond James lowered shares of Adverum Biotechnologies from an “outperform” rating to a “market perform” rating in a report on Friday, November 2nd. Chardan Capital restated a “hold” rating and issued a $4.50 price objective on shares of Adverum Biotechnologies in a report on Friday, November 2nd. SunTrust Banks lowered shares of Adverum Biotechnologies from a “buy” rating to a “hold” rating in a report on Friday, November 2nd. Piper Jaffray Companies set a $8.00 price target on shares of Adverum Biotechnologies and gave the company a “buy” rating in a report on Friday, November 2nd. Finally, Zacks Investment Research upgraded shares of Adverum Biotechnologies from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a report on Thursday, November 15th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $6.30.
A number of large investors have recently bought and sold shares of ADVM. Virtu Financial LLC bought a new stake in Adverum Biotechnologies during the 4th quarter valued at $66,000. Voya Investment Management LLC bought a new position in Adverum Biotechnologies in the 2nd quarter worth $107,000. Bank of America Corp DE raised its holdings in Adverum Biotechnologies by 185.8% in the 4th quarter. Bank of America Corp DE now owns 40,501 shares of the biotechnology company’s stock worth $128,000 after purchasing an additional 26,330 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Adverum Biotechnologies in the 3rd quarter worth $155,000. Finally, Wells Fargo & Company MN raised its holdings in Adverum Biotechnologies by 169.5% in the 3rd quarter. Wells Fargo & Company MN now owns 34,142 shares of the biotechnology company’s stock worth $206,000 after purchasing an additional 21,474 shares in the last quarter. Institutional investors own 54.86% of the company’s stock.
ADVM stock traded up $0.31 during midday trading on Friday, reaching $3.81. The company had a trading volume of 372,574 shares, compared to its average volume of 200,425. Adverum Biotechnologies has a 1 year low of $2.62 and a 1 year high of $8.05. The stock has a market cap of $239.53 million, a PE ratio of -2.95 and a beta of 3.05.
About Adverum Biotechnologies
Adverum Biotechnologies, Inc, a clinical-stage gene therapy company, engages in developing gene therapy product candidates that target serious rare and ocular diseases. It leverages its adeno-associated virus (AAV)-based directed evolution platform to develop products. The company's pipeline of product candidates include ADVM-043 to treat alpha-1 antitrypsin deficiency, which is in Phase I/II clinical trial; and ADVM-053 for hereditary angioedema disease, which is in preclinical stage; as well as ADVM-022 and ADVM-032 for wet age-related macular degeneration disease, which are in preclinical stage.
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