10,115 Shares in Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Bought by Captrust Financial Advisors

Captrust Financial Advisors acquired a new position in Adverum Biotechnologies, Inc. (NASDAQ:ADVM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,115 shares of the biotechnology company’s stock, valued at approximately $71,000.

Several other institutional investors also recently modified their holdings of the business. BNP Paribas Financial Markets grew its stake in shares of Adverum Biotechnologies by 177.0% in the third quarter. BNP Paribas Financial Markets now owns 4,146 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 2,649 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Adverum Biotechnologies by 2.4% in the second quarter. Renaissance Technologies LLC now owns 136,257 shares of the biotechnology company’s stock worth $935,000 after purchasing an additional 3,169 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Adverum Biotechnologies by 129.1% in the third quarter. MetLife Investment Management LLC now owns 12,582 shares of the biotechnology company’s stock worth $88,000 after purchasing an additional 7,089 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Adverum Biotechnologies in the third quarter worth $74,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Adverum Biotechnologies in the third quarter worth $93,000. Institutional investors own 48.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. StockNews.com raised shares of Adverum Biotechnologies from a “sell” rating to a “hold” rating in a research report on Wednesday, December 11th. Royal Bank of Canada cut their price target on shares of Adverum Biotechnologies from $12.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 5th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Adverum Biotechnologies in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $27.83.

Adverum Biotechnologies Price Performance

ADVM stock opened at $5.26 on Tuesday. The stock has a market capitalization of $109.42 million, a PE ratio of -0.88 and a beta of 0.91. The company’s 50-day moving average is $7.07 and its 200-day moving average is $7.18. Adverum Biotechnologies, Inc. has a 1 year low of $5.21 and a 1 year high of $29.70.

Adverum Biotechnologies (NASDAQ:ADVM) last released its quarterly earnings data on Monday, November 4th. The biotechnology company reported ($1.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.10). The firm had revenue of $1.00 million for the quarter, compared to the consensus estimate of $0.50 million. On average, analysts anticipate that Adverum Biotechnologies, Inc. will post -4.92 earnings per share for the current fiscal year.

Adverum Biotechnologies Profile

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.